- Paperback: 320 pages
- Publisher: McGraw Hill Education; 1St Edition edition (1 July 2017)
- Language: English
- ISBN-10: 9352601955
- ISBN-13: 978-9352601950
- Package Dimensions: 23 x 17.8 x 1.8 cm
- Average Customer Review: Be the first to review this item
- Amazon Bestsellers Rank: #44,745 in Books (See Top 100 in Books)
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The Startup Equation Paperback – 1 Jul 2017
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I should also note I have been friends with the authors for a number of years. I say this not just for disclosure purposes but to point out how thrilled I am for them that they were able to put their combined expertise into a book. Steve and Ja-Nae have been heavily involved in the digital/social media world for a long time, and have helped multiple individuals and businesses launch and flourish. Point being, their insights come from hard work.
As a serial entrepreneur, I can tell you that you don't need to account for all of these pieces to be successful. That's the beauty of all the other business canvases/models out there. There is one page/poster to document the entire business. The authors of this book have several canvases to document all the components. You'd need a team just to document and update it, which isn't a bad thing but it's something that you can't just glance at and fully understand.
Like I mentioned, it's an ambitious and useful book. It's just too complicated for the typical entrepreneur. For me I didn't find enough data, case studies, and research backing how all these components, sub-components, and sub-sub-components are necessary. After a while it just felt like a list of business lists. Plus even if there were plenty of case studies, backing their list choices, I'm not sure it would help since every business is different and has different challenges/opportunities.
People have to remember if creating a business were as simple as following a formula or equation, everyone would have a billion-dollar business.
The truth is, a lot of the time entrepreneurs can't account for everything and somehow manage to create amazing businesses. I say stick to the basics, apply the scientific Method, and create remarkable value. Master the basic principles and finer details work themselves out. For a completely different philosophy on startups by a creator of three billion-dollar startups, read Thiel's "Zero to One" too.
In sum, you do need a business model but I'm not sure if it needs to be exhaustive. This book is one option of how complex business models can be. The bonus of this book are some very good infographics and general ideas. Get it for that, a bird's eye view of the entire business model universe. But simplify it!