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The Aspiring Entrepreneur Entry Strategy: A Practical Step-By-Step Guide for Finding a Validated, Winning Business Idea That Stays True to Who You Are by Andreas Aravis

You have 125 highlighted passages
You have 53 notes
Last annotated on June 27, 2016
It’s the so-called “aha moment.”Read more at location 76
 

Note: What if you have too many? Edit

Most business books either assume that you already have a business idea and jump directly into how you can turn it into a business, or cover this topic lightly and give you the same old advice:Read more at location 82
 

Note: Long sentence Edit

But before jumping on the meat of this book,Read more at location 86
 

Note: Weird expression Edit

monetizing their idea.Read more at location 112
 

Note: Monetize? Edit

“[i]deasRead more at location 119
 

Note: ? Edit

s/heRead more at location 124
 

Note: They? Edit

A bad idea, executed well, will not make a good business.Read more at location 129
 

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In business, one of the most important decisions you’ll make is what business to be in.Read more at location 146
 

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1st Type: Small-Business Startups: Work to Feed the FamilyRead more at location 158
 

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2nd Type: Lifestyle Startups: Work to Live Their PassionRead more at location 162
 

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3rd Type: Scalable Startups: Born to Be BigRead more at location 167
 

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4th Type: Buyable Startups: Acquisition TargetsRead more at location 173
 

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6th Type: Large-Company Startups: Innovate or EvaporateRead more at location 181
 

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then that the six types of startups mentioned above differs Read more at location 185

Note: Differ Edit

you need to take some time and think about which one is right for you.Read more at location 185
 

Note: How? Edit

I see what has been accomplished at great labor and expense in the past. I gather data of many thousands of experiments as a starting point, and then I make thousands more."Read more at location 205
 

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Who Is This Book For and Who Is It Not For?Read more at location 208
 

Note: Seems like this should come earlier Edit

The Aspiring Entrepreneur Entry Strategy is the perfect guidebook for those who want to find a validated, winning business idea that will eventually evolve into a lifestyle startup business.Read more at location 234
 

Note: This is a good sentence, maybe put it sooner? Edit

s/heRead more at location 239
 

Note: They Edit

Do these individuals simply areRead more at location 240
 

Note: Rewrite Edit

realizing that extraordinary results are directly determined by how you narrow you can make your focus.”Read more at location 245
 

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Telling people to just follow their passion and things will eventually work out is irresponsible advice.Read more at location 259
 

Note: I like this statement Edit

start a business,Read more at location 263
 

Note: Viable business Edit

The Convergence Model Chris Guillebeau, in his fantastic bestselling book, Read more at location 270

Note: Which book? Edit

this way of thinking often leads people into the "solution looking for a problem" trap.Read more at location 288
 

Note: Cool Edit

“iterate from a plan A to a plan that works, before running out of resources”Read more at location 294
 

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“Market matters most; neither a stellar team nor fantastic product will redeem a bad market. Markets that don’t exist don’t care how smart you are.”Read more at location 307
 

Note: I like the quotes and at the same time seems like there are a lot Edit

the market either exists or it doesn’t!Read more at location 312
 

Note: Not sure if it's that simple and clean Edit

“Champions keep playing until they get it right.”Read more at location 329
 

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Porter’s classic book, Competitive Advantage,Read more at location 340
 

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Purpose of This ChapterRead more at location 357
 

Note: Next chapter? Edit

“rests on the choice of a narrow competitive scope within an industry. The focuser selects a segment or group of segments in the industry and tailors its strategy to serving them to the exclusion of others.”Read more at location 363
 

Note: Too many quotes Edit

Susan A. Friedmann, Riches in Niches: How to Make It Big in a Small MarketRead more at location 377
 

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Rob Walling in his great book, Start Small, Stay Small,Read more at location 379
 

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Becoming an authority in your selected field is within reach.Read more at location 402
 

Note: I like this Edit

über-successfulRead more at location 411
 

Note: Pun intended? Edit

Startups win with focusRead more at location 433
 

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Dan Norris brilliantly puts it in The 7-Day Startup,Read more at location 453
 

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Step/ChapterRead more at location 465
 

Note: Too many /'s Edit

what I will show you do in this chapter.Read more at location 466
 

Note: How to do Edit

journal and write down how you spent your non-working hours during the past few weeks.Read more at location 532
 

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Michael SkokRead more at location 572
 

Note: Maybe mention who he is Edit

Bill AuletRead more at location 588
 

Note: Who? Edit

“No one gives you initiative, you have to take it.”Read more at location 596
 

Note: Good quote Edit

Unbundling is a common technique for breaking down a market into smaller niches.Read more at location 620
 

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Exercise #1Read more at location 630
 

Note: Really good Edit

get a better understanding about your nichesRead more at location 649
 

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Filter their input, as nobody possesses the ultimate truth.Read more at location 664
 

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EPVMN, which stands for: E: Evergreen PV: Personally Viable MN: Market NicheRead more at location 679
 

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Exercise #1Read more at location 702
 

Note: Exercise #4? Edit

my research indicates that they are just getting stronger every year.Read more at location 711
 

Note: How? Edit

personally viable means choosing a market niche that you genuinely give a sh*t about and will feel comfortable building a business around.Read more at location 725
 

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don’t honestly enjoyingRead more at location 728
 

Note: English Edit

According to the New York Times,Read more at location 732
 

Note: Adding references will add a lot Edit

Cinderella Syndrome is “when a woman spends all her time searching for her ‘prince charming’ to come and rescue her.”Read more at location 733
 

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Does that idea genuinely excite you?Read more at location 746
 

Note: Good question, quote Derek divers? Hell yeah? Edit

You simply pick the market niche that you are most familiar with and understand more.Read more at location 756
 

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Traditional domain experienceRead more at location 758
 

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“If you talk about it, it's a dream, if you envision it, it's possible, but if you schedule it, it's real.” - Tony RobbinsRead more at location 764
 

Note: Great quote Edit

The Startup Owner’s Manual, you need to “keep segmenting the market until you have a battle you can win.”Read more at location 767
 

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quick recapRead more at location 771
 

Note: Love recaps Edit

Disciplined Entrepreneurship,Read more at location 788
 

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buy something because they either have a problem they want to solve or a need they want to be filled, and they are convinced that the product can help them fulfil that goal.Read more at location 792
 

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The Purpose of This ChapterRead more at location 796
 

Note: These statements are good but a tad confusing, since this section is displayed just like a chapter p Edit

JTBD (Jobs to Be Done)Read more at location 803
 

Note: Heard only recently of this concept, maybe quote origin? I think I heard it from an intercom talk Edit

"He who lives by the crystal ball soon learns to eat ground glass."Read more at location 818
 

Note: Pretty horrible Edit

Exercise #1Read more at location 834
 

Note: It's nicer if you make this paragraph Stan alone, not to have to look back Edit

Chris Guillebeau’s decision-making matrix that was introduced in his book, The $100 Startup.Read more at location 841
 

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Rank each of your JTBDRead more at location 856
 

Note: Sum them up? Edit

Exercise #3Read more at location 878
 

Note: Make it readable independently Edit

Adrian HowardRead more at location 891
 

Note: Who? Edit

Josh Kaufman in his bestselling book, The Personal MBA:Read more at location 906
 

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Always keep in mind that some roads are less traveled for a reason.Read more at location 924
 

Note: Good line Edit

Michael E. Porter explains in Competitive Advantage,Read more at location 927
 

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externally homogeneous,Read more at location 934
 

Note: Non-intuitive term Edit

rank your audience segments according to how “unique” they are.Read more at location 944
 

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Reason #2:Read more at location 962
 

Note: Was there a reason #1? Edit

“going narrow and deep” (namely, going niche) doesn’t stop in the industry/market. It should instead cover the audienceRead more at location 974
 

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Bill Aulet explains in his book, Disciplined Entrepreneurship:Read more at location 975
 

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Findability means how easy it will be to find people who are interested in buying your product.Read more at location 981
 

Note: Wasn't reachability defined elsewhere Edit

think like a potential customer and browse onlineRead more at location 1021
 

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you need to kept your research wideRead more at location 1029
 

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visiting your “competitors” sites!Read more at location 1041
 

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BoomStart, the book by Professor Gary RhoadsRead more at location 1063
 

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Rip-off: identify a good idea from your neighbor where there is significant need or opportunity. Design: modify, add to, take away, make it harder, use it differently, or completely change the product by sharpening the angle.Read more at location 1065
 

Note: Rip, pivot and jam Edit

Steve Jobs famously said in 1996: "Picasso had a sayingRead more at location 1075
 

Note: That's weird Edit

understand what prevents your target audience from getting their job done perfectly,Read more at location 1088
 

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Find out what their key challenges are for getting fromRead more at location 1090
 

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Take those findings and design a proposition that will knock down those barriersRead more at location 1092
 

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focus purely on their challenges.Read more at location 1111
 

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don’t reveal your findings and hypotheses, let them talk, and listen carefullyRead more at location 1111
 

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Piece #1: Have a market niche: Done E.g., Market Niche: Yoga. Piece #2: Have a target JTBD: Done E.g., JTBD: Better my bone health. Piece #3: Decide what your market segment will be: Done E.g., Target Group: Working women in their early 40s suffering from osteopenia who love and practice yoga. Piece #4: Define what the main obstacles are for getting that job done: Done E.g., JTBD Barriers: They can’t find a training yoga course exclusively focused on their condition which would allow them to get an enhanced (and bespoke) treatment and stop feeling uncomfortable being among other women, who don’t suffer from that condition. Piece #5: Configure a bespoke “treatment” - Work In Progress Put together a solution that will eliminate those barriers and tap your target group’s externally homogeneous nature.Read more at location 1122
 

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Start Small and Release Your Full Vision IncrementallyRead more at location 1144
 

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MVP] is a concise summary of the smallest possible group of features that will work as a stand-alone product while still solving at least the core problem and demonstrating the product’s value.”Read more at location 1158
 

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Cupcake Model, which was first coined by Brandon Schauer,Read more at location 1166
 

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MVP with a reduced scopeRead more at location 1171
 

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Make sure it’s something that will help your target customers get that job done better than anybody else,Read more at location 1171
 

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is not running against the clock.Read more at location 1183
 

Note: ? Edit

massive difference between a person who agrees to give you their email address and one who is convinced that your product deserves their hard-earned money.Read more at location 1206
 

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customers often don’t act like they say they do.”Read more at location 1219
 

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Michal Bohanes learned that the hard way with his failed startup, Dinnr.Read more at location 1221
 

Note: Was this covered? Edit

“test if people behave the way they say they would with a call-to-action (CTA).”Read more at location 1247
 

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“purchase now” experience in order to test if your target customers are actually willing to pay for what you are thinking to develop.Read more at location 1249
 

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Risk-Reversal StrategyRead more at location 1280
 

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2nd action: Define your metrics (what a successful test should look like)Read more at location 1306
 

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As a rule of thumb, a good conversion rate for consumer products normally ranges from 2 to 7%.Read more at location 1308
 

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I would suggest doubling your industry average. If your industry average is 3%, set your metric to 6%.Read more at location 1310
 

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On the other hand, if the result is negative, it means that either you have a poorly designed, or even poorly executed, experiment, or that you need to iterate your proposition according to what the test has taught you.Read more at location 1319
 

Note: Really glad you mention that Edit

think hard about where the deviation lies and how you can tackle that last obstacle.Read more at location 1322
 

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let’s summarizeRead more at location 1327
 

Note: I like smmaries Edit

“Timing, perseverance, and ten years of trying will eventually make you look like an overnight success.”Read more at location 1370
 

Note: Beautiful quote

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