Bill Aulet is the managing director of the Martin Trust Center for MIT Entrepreneurship as well as a senior lecturer at the MIT Sloan School of Management. Prior to joining MIT, he had a 25-year track record of success in business, from his start at IBM to his experience as a serial entrepreneur. He started and ran Cambridge Decision Dynamics and SensAble Technologies. He works around the world with entrepreneurs, small companies, large companies, and governments to promote innovation-driven entrepreneurship.

24 Steps to Success!

Disciplined Entrepreneurship will change the way youthink about starting a company. Many believe that entrepreneurshipcannot be taught, but great entrepreneurs aren't born withsomething special - they simply make great products.

PREFACE xiii
 
ACKNOWLEDGMENTS xv
 
INTRODUCTION 1
 
SIX THEMES OF THE 24 STEPS 11
 
STEP 0 Getting Started 15
 
STEP 1 Market Segmentation 23
 
STEP 2 Select a Beachhead Market 41
 
STEP 3 Build an End User Profile 49
 
STEP 4 Calculate the Total Addressable Market (TAM) Size for the Beachhead Market 57
 
STEP 5 Profile the Persona for the Beachhead Market 69
 
STEP 6 Full Life Cycle Use Case 83
 
STEP 7 High-Level Product Specification 91
 
STEP 8 Quantify the Value Proposition 103
 
STEP 9 Identify Your Next 10 Customers 113
 
STEP 10 Define Your Core 121
 
STEP 11 Chart Your Competitive Position 131
 
STEP 12 Determine the Customer's Decision-Making Unit (DMU) 139
 
STEP 13 Map the Process to Acquire a Paying Customer 149
 
STEP 14 Calculate the Total Addressable Market Size for Follow-on Markets 157
 
STEP 15 Design a Business Model 163
 
STEP 16 Set Your Pricing Framework 173
 
STEP 17 Calculate the Lifetime Value (LTV) of an Acquired Customer 181
 
STEP 18 Map the Sales Process to Acquire a Customer 195
 
STEP 19 Calculate the Cost of Customer Acquisition (COCA) 203
 
STEP 20 Identify Key Assumptions 219
 
STEP 21 Test Key Assumptions 225
 
STEP 22 Define the Minimum Viable Business Product (MVBP) 235
 
STEP 23 Show That "The Dogs Will Eat the Dog Food" 245
 
STEP 24 Develop a Product Plan 253
 
POSTLUDE: A BUSINESS IS MORE THAN 24 STEPS 261
 
GLOSSARY 263
 
ABOUT THE AUTHOR 265
 
INDEX 267

24 Steps to Success!
 
Disciplined Entrepreneurship will change the way you think about starting a company. Many believe that entrepreneurship cannot be taught, but great entrepreneurs aren't born with something special - they simply make great products. This book will show you how to create a successful startup through developing an innovative product. It breaks down the necessary processes into an integrated, comprehensive, and proven 24-step framework that any industrious person can learn and apply.
 
You will learn:
* Why the "F" word - focus - is crucial to a startup's success
* Common obstacles that entrepreneurs face - and how to overcome them
* How to use innovation to stand out in the crowd - it's not just about technology
 
Whether you're a first-time or repeat entrepreneur, Disciplined Entrepreneurship gives you the tools you need to improve your odds of making a product people want.
 
Author Bill Aulet is the managing director of the Martin Trust Center for MIT Entrepreneurship as well as a senior lecturer at the MIT Sloan School of Management.
 

For more please visit disciplinedentrepreneurship.com/