Here are some of the questions you will find an answer to: What are the core values of an entrepreneur? How do you measure up? When are you ready to talk to venture capitalists? How to think about your business idea? How to find out if you will have customers? When to approach them and how to talk to them? How to test your new product? How to grow your business? How to differentiate from your competition? How to blow away your competition? ...and many more.
Keep in mind, though, that this book is written for technology entrepreneurs and may not be equally applicable for every industry. As for myself, this book immediately claimed a prominent place in my library and I am using it very frequently.
Conclusion: Buy this one; you will not be disappointed!
The main themes are developed through understanding the true value proposition of the start-up, which includes reviewing the revenue generation possibilities, customer interest and competitive forces. Ryan's Sunflower Model is used to understand the ways in which the core competencies can be leveraged into new revenue generating areas. These are used as the foundation in building the business model and business plan, which are then used in approaching venture capitalists.
There is a kaleidoscope of useful practical examples from how to script a succinct and powerful executive summary, business plan and board meeting slides. The chapters are linked with practical examples of Ryan's start-ups, their trials, challenges and many successes.
The practical lessons were very useful to me as they provide the key insights that the entrepreneur is looking for. The book does not labor over theoretical propositions, but rather provides illuminating and tried and tested real life frameworks and guidance. The book will be beneficial for any start-up entrepreneur, business school student, corporate leader and manager -and the person who has always walked around with that one great idea that they have always wanted to deploy.
This is a 'must read' and luminaries such as Craig Barrett (CEO of Intel), Ken Siebel (MD of U.S. Trust Company) and Prof. David BenDaniel (Professor of Entrepreneurship at the Johnson Graduate Scholl of Business, Cornell University) have penned praise for this book.
A synopsis of the book: "Chapter 1 - Which Wanna-Be Are You?" focuses on analyzing the entrepreneur's and Entrepreneurial Team Profile'. This analyses the main types of entrepreneurial teams and their respective motivations and goals.
"Chapter 2 - Do the Dogs Like the Dog Food?" focuses on the fundamental question, which asks if customers really, really like and need what you are offering and reviews the detailed value proposition.
"Chapter 3 - The Sunflower Model" outlines the company's core competency and the possible ways to leverage that core into new revenue generating areas.
"Chapter 4 - The Keys to The Goldmine" concentrates on the key questions to answer in building a solid business and focuses on the value proposition, differentiation, scaling and the ability to entrench your company within the client site.
"Chapter 5 - Peeing In The Wells" gives an annotated example of a winning business presentation and executive summary, and discusses the approaches in approaching the venture capitalist.
"Chapter 6 - Sucking the Air out of the Room" is all about how you become Number One and stay Number One. It will tell you how to make selling against your company a nightmare.
"Chapter 7 - You've Got Money, Now What?" guides start-ups on how to manage operations, hiring personnel, and the management board.