Agile Business on the Web (long)

[avfletch]

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The piece you are missing is found in the book THE ORIGIN AND EVOLUTION OF NEW BUSINESSES by Amar Bhide.

The essence is taking shots at low cost, low probability, but potentially very high payoff bets.

Because of the nature of these small bets, an empirical iterative process (rather than a defined process) works best. Bhide discusses this in detail in his book, but from the other end-- he shows how corporations invest more, and have more to lose, and do not use empirical methods. Instead they use defined methods aimed at predictability.

Entreprenuers take shots in areas of rapid growth. Online dating was growing 100% a year when www.plentyoffish.com came in with the innovative freeby. The model is: spend minimal time and money predicting, and maximum time getting something out there, in a growth market or zone of activity and interest, inspecting and adapting quickly over several iterations.

30 to 50K is enough to get something "good enough" and get it out there. Amazon, Ebay, Google, YouTube, MySpace, PlentyofFish, ICQ, these are all examples of empirical winners.

Collaborate. Get it out there. Inspect, adapt, iterate.

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If this is the case could we see some financial calculations showing how the $30k will be invested please?