One of the habits I have developed over the years is related to my summer reading! Each summer, before my holidays I select three books, one related to work, one remotely-related and one completely irrelevant. I won’t bore you with the other two, which were The Hundred-Year-Old Man Who Climbed Out the Window and Disappeared and Emotional Intelligence but I would like to spend some time letting you know about the work-related one which was Disciplined Entrepreneurship by Bill Aulet.
Having read quite some other books on startups, I must admit that this book came as a surprise for me. It was definitely worth reading as it explained lots and lots of things that I was struggling with when applying some other methodologies in practice. The book by Bill Aulet is a really well-explained guide to the basics that every entrepreneur needs to know about before embarking to the life-changing experience of having your own company. It’s not as easy as the title implies but the book offers quite an insight to these steps, along with practical examples that allow you to better comprehend the risks and pitfalls of each decision you make.
If I had to choose some chapters that really amazed me, or that I found extremely useful, I would choose the following:
– Step 4: Calculate the Total Addressable Market for your Beachhead Market
– Step 6: Full Life Cycle Use Case (Lifecycle of your Product)
– Step 8: Quantify your Value Proposition (break down your promise to your customers)
– Step 13: Map the Process to Acquire a Paying Customer
– Step 15: Designing a Business Model (categories of business models)
– Step 17: Calculate the LifeTime Value of an aquired customer
– Step 19: Calculate the Cost Of Customer Aquisition (COCA)
Overall, I really enjoyed reading this book and I am really confident that combining parts of this book with approaches such as the Lean Canvas, can offer a greater opportunity for the development of a viable business venture. I am surely hanging on the chapters related to selecting a beachhead market and also profiling a persona of your customer!
The next item in my work-related reading list is the Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant. So, stay tuned for another book review… 😉