Class X (15.390, Wednesday, Week 3)
new-enterprisesyear-twoInnovations that demand substantial change in peoples' behavior usually don't sell.
Business models that do not require perfect execution are easier to implement. Initially, new enterprises will probably not have the management expertise to consistently hit home runs.
Thinking about market size:
"I've got a product here for left-handed, Spanish-speaking, bi-sexual plumbers. Hold on, that's a pretty small market." -- H.A.