A business idea is only as good as the opportunity it represents.
Daniel
Daniel's notes on The New Business Road Test
The New Business Road Test by John Mullins and John Walker Mullins
Notes 8
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8 notes
in reading orderThe first question every entrepreneur must answer is, 'What's the opportunity?'
To succeed, a new business must get five things right: the opportunity, the context, the people, the risk, and the potential return.
Great businesses are not built on great products; they're built on great opportunities.
Before you seek investors, get the chance to pitch your venture to the toughest critics you can find.
Starting a business involves risk – it's the entrepreneur's job to minimize it.
Entrepreneurs who persevere, even after one or more failures, can often find great success in the end.
Learn to listen to what customers are saying and not saying, what they are doing and not doing.
Keep what you read, not just what you finished.
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