Brave New World, or Better-Faster-Cheaper?

New business ideas tend to fall into two camps.

  • Brave New World ideas are radically new and need to create their own market. There are no incumbent competitors, no economic model and a startup team must invent the model as they go along. Businesses like this need a plan but are very likely to diverge significantly from it as they find their way.
  • Better-Faster-Cheaper ideas deliver something that the market already gets in an improved way. Businesses like this need to focus on execution of their plan.

It helps for a team to be clear which kind of business they are trying to drive as they need different kinds of leadership and management.

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