Evidence-based entrepreneurship began to replace traditional business planning about 2010. Silicon Valley played a major role combining Osterwalter’s business model canvas (BMC) tool with Blank’s customer development method to improve the odds for success. This process allows entrepreneurs to search, find, and execute an idea for a product or service using feedback from targeted customers. Not only does experimenting “lean” save time and money, it also reduces uncertainty and increases demand.
Vetrepreneurship (Veteran’s Entrepreneurship)
Veterans of the U. S. Armed Services are natural born entrepreneurs. Not only are they disciplined and structured, but they know how to work in teams, focus on missions, and act as leaders. Military retirees often use their pension as a bootstrap, and thirty percent of all American businesses are veteran owned.
Creativity and innovation, both entrepreneurial skills, are increasingly being used by corporate America. Known as Intrapreneurship, ideation in teams has helped many companies design new products and improve customer service. Eric Ries, author of The Lean Startup, added agile development to the process. He observed that software should be built iteratively with pieces that customers value most created first.
Disciplined Entrepreneurship, written in 2013 by Bill Aulet of MIT, is a refinement that adds Crossing the Chasm, Blue Ocean strategy, and Thomke experimentation to lean startup Instead of a canvas, Aulet uses a sequential framework, starting with a “beachhead” market and snaking through to a product 24 steps later.
The Student Success Program is a student success course that inspires and engages students with the perseverance and determination of an entrepreneurial mindset needed to succeed academically and in life. This program encompasses student success concepts in the context of an entrepreneurial mindset, helping students make connections and build relationships that can support students throughout college and beyond.
The history of American and veteran entrepreneurship is a rich and colorful story. It helps explain our phenomenal economic growth and an influence on global culture. Founded on the ideas of capitalism, free enterprise, and a spirit of healthy competition, the USA encourages business innovation and success. From the founding fathers, a westward expansion, demands for transportation, our economy has produced the likes of Jacob Astor, Cornelius Vanderbilt, Andrew Carnegie, and Henry Ford. The digital revolution only accelerated entrepreneurship making Oprah Winfrey, Walt Disney, Ray Kroc, Bill Gates, Steve Jobs, and Mark Zuckerberg fabulously wealthy. By using skills such a teamwork, leadership, persistence, and self-efficacy, U. S. veterans are twice as likely as non-veterans to be self-employed. Among the better known are Phil Knight (Nike), Fred Smith (Fed-Ex), Ross Perot (EDS), and Truett Cathy (Chick fil A).
Sprint is a method designed by a team from Google Ventures that provides a problem-solving process over just five days. The primary focus is to help people create a prototype for a business. It is the latest evidenced-based entrepreneurship method, can serve as either a problem solver or an evaluation, and is ideal for use in an incubator to test ideas.