One of the books that we read for the Entrepreneurship class was All In Startup by Diana Kander. Diana is a successful entrepreneur, New York Times Bestselling Author, Keynote Speaker, and Professor. Her book elegantly blends core entrepreneurial concepts with an intriguing story about Sam and Owen who are the fictional characters in the story. This week we were fortunate to have a Skype session with the Diana herself and ask her questions regarding the book and entrepreneurship in general. In this article I’ll share some of those questions and the core concepts, which I acquire, reading the book.
- When you start a business what are the things that you look for in potential partners?
- Partners must have more than one skill set
- Partners must put money into the business so they have a greater sense of responsibility and commitment towards the new venture
- Was Sam and Owen’s a real story?
- No, Sam and Owen are myself; they are different aspects of my own character.
- In terms of a new product how can you possibly tell if you are solving a migraine problem when the product doesn’t even exist yet?
- If a product isn’t a current migraine problem then lots of money must be spent in advertising to make people feel like this product is actually needed
- What motivated you to write this book?
- Most entrepreneurs are really stubborn, they had rather learn by failing themselves than by learning from other people’s mistakes. The goal with this book is to convey the message that learning from other people may just be as effective as learning from one’s own mistakes.
- Is your product solving a headache or a migraine problem?
- The most fundamental step before beginning a new venture is to test your own assumptions
Note: As with all the matters of life my thoughts may be wrong or outdated, thus I would highly recommend reading Diana’s book and making your own conclusions.