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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Nail It then Scale It summary
Nathan Furr
Paul Ahlstrom
The Entrepreneur’s Guide to Creating and Managing Breakthrough Innovation
16 mins
Brief summary
In "Nail It then Scale It," Nathan Furr and Paul Ahlstrom provide a step-by-step guide for entrepreneurs to identify, test, and scale their business ideas. The book emphasizes the importance of validating ideas early on and iterating quickly.
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Nail It then Scale It
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Key idea 1 of 6
Thriving businesses are not founded solely on money and great ideas.
If someone handed you a million dollars today, do you think you could use it to create a successful company?
Most people wouldn’t be so sure – and it goes without saying that money isn’t all it takes to develop a successful product. Money can even hurt your business endeavor by breeding complacency; after all, necessity is the mother of invention.
As a result, start-ups with little seed capital often know exactly what’s essential to their product. On the other hand, when time and money flow freely, and there’s thus no need to manage either resource carefully, innovation often fails – or never occurs at all.
Just take an example from 1996, when the video game developer 3D Realms created the wildly successful game, Duke Nukem 3D. They finished development of the game in around 18 months with very little capital. Then, with the millions of dollars the game brought in, they got to work making the eagerly anticipated sequel, Duke Nukem Forever.
Unfortunately, the money they made bought them too much time. Decisions were never made and, in the end, the company wasted 12 years in the development stage before scrapping the game, which was never released.
It just goes to show that money really isn’t everything, and the same can be said of “brilliant” ideas. Such seemingly perfect visions often inspire blind trust, and the determination to make these ideas a reality at all costs can prove risky.
When they’re convinced that their idea is rock solid, many entrepreneurs take the “ready, fire, aim” approach. In other words, they develop and launch their project as quickly as they can, pouring money into it because they’re certain they’ll be able to adapt to the needs of customers later on.
It’s not hard to see why this approach often fails; it leads to products that attract zero demand, like a lawn mower rental service in Manhattan. Because of this failure to account for what customers want, entrepreneurs who follow this model may soon find themselves buried in debt.
But if money and great ideas won’t help you launch a thriving business, what will? You’ll find out in the upcoming blinks.
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What is Nail It then Scale It about?
Nail It then Scale It (2011) is your guide to perfecting your business plan and expanding your company. These blinks outline the process of creating innovative products that solve problems, targeting and communicating with the right markets and refining your strategy before scaling your business.
Nail It then Scale It Review
Nail It then Scale It (2011) provides a comprehensive roadmap for turning ideas into successful businesses. Here's what makes this book a valuable read:
- With its practical framework and actionable strategies, it equips readers with the tools necessary to validate and scale their business ideas.
- Backed by extensive research and real-world examples, the book offers valuable insights into the challenges and opportunities entrepreneurs face during the startup journey.
- The authors' engaging storytelling captivates readers, ensuring that the book is both informative and enjoyable, keeping boredom at bay.
Best quote from Nail It then Scale It
No product shall be developed prior to customer input. – Scott Harmon
—Nathan Furr and Paul Ahlstrom
Who should read Nail It then Scale It?
- Entrepreneurs and anyone who wants to start a business
- Business owners fed up with traditional economic models
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Book summaries like Nail It then Scale It
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Nail It then Scale It FAQs
What is the main message of Nail It then Scale It?
The main message of Nail It then Scale It is how to turn a startup into a successful company by focusing on the right product-market fit.
How long does it take to read Nail It then Scale It?
The reading time for Nail It then Scale It varies depending on the reader's speed. However, the Blinkist summary can be read in a fraction of the time.
Is Nail It then Scale It a good book? Is it worth reading?
Nail It then Scale It is a valuable read for aspiring entrepreneurs. It provides practical insights and strategies for building a successful startup.
Who is the author of Nail It then Scale It?
The authors of Nail It then Scale It are Nathan Furr and Paul Ahlstrom.
What to read after Nail It then Scale It?
If you're wondering what to read next after Nail It then Scale It, here are some recommendations we suggest:
- Scale for Success by Jan Cavelle
- Running Lean by Ash Maurya
- The Lean Startup by Eric Ries
- Startupland by Mikkel Svane
- Traction by Gabriel Weinberg and Justin Mares
- This Is Your Brain on Food by Uma Naidoo
- Buffett and Munger Unscripted by Warren E. Buffett
- Good to Great by Jim Collins
- Change Anything by Kerry Patterson
- How Big Things Get Done by Bent Flyvbjerg and Dan Gardner
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