The Art of Start 2.0 by Guy Kawasaki

Key Takeaways

“If you can’t describe your business model in ten words or fewer, you don’t have a business model.” says Guy Kawasaki, the guy with a golden touch (“Whatever is gold, Guy touches”) and the author of “The Art of Start 2.0”, a guidebook for entrepreneurs and startup founders looking to launch successful ventures. Here are some key points from the book:

 

1. Meaning matters:

Focus on making meaning, not just money. Create a product or service that truly matters to your customers and start with a vision that is bigger than just making a profit.

2. Build MVP ASAP:

Build a prototype or minimum viable product (MVP) as soon as possible. This will help you test your idea, get feedback from customers, and improvise your product before you launch it in the market and start investing your lot of time and money.

3. Focus on your core competencies:

Focus on doing what you are good at and what you enjoy, outsource the rest. To be successful, you need to be good at what you do best and delegate tasks that are outside your expertise.

4. Dominate a niche:

Find a niche and dominate it. Don’t try to be everything to everyone. Become the go-to solution for a specific market segment.

5. Customer acquisition is the key:

Developing a great product or solution is the beginning, the key is to acquire customers and generate revenue. So, customer acquisition and customer retention should be your priority from day one.

6. Implementation & Improvement:

Organisations are successful because of good implementation, not good business plans. Moreover, the best startup founders are always looking for ways to improve themselves and their businesses. Read a lot, attend conferences to gain knowledge & meet new people, and seek out mentors to help you continue to grow and evolve.

7. Team with complementary skills:

To succeed in business, you need people who are passionate about your vision and share your values, but who also bring different perspectives and complimentary skills to the table.

8. Be agile, adaptable & lean:

The business landscape is constantly changing, so you need to be able to pivot and adjust your strategy to stay relevant for the customers. Moreover, keep your costs low and invest in things that will help you grow.

9. What’s your mantra?:

Create a business mantra for your company that truly reflects your company’s purpose and goals. A mantra is a short, simple statement that communicates the essence of your business. Its purpose is to help your employees, your vendors, your customers and your investors truly understand why the organization exists.

P.S.: Guy Kawasaki – an author, a serial entrepreneur and a venture capitalist – worked with Macintosh Division at Apple in the 1980s & 1990s and is currently the Chief Evangelist at Canva. He has published 15 books till now, including Wise Guy, Enchantment and The Power of Social Media.