Every once in a while I read an amazingly good business book and want to share it. I can highly recommend The Four Steps to the Epiphany by Steven Gary Blank. (Amazon link. I make no money from this promotion.)
Four Steps deals with an issue that has run through my head for years: why do start-ups fail? Mr. Blank believes that start-ups fail because of two reasons: 1) they don’t focus early and often enough on understanding the customers and 2) these companies don’t realize that the way to enter the market depends on what market type the company is going after (new market, existing market or resegmented one).
It’s not that he just describes the problem, though. He actually outlines an exact methodology for tackling this problem, literally step by step.
A little background: I love history and believe very strongly that those who don’t learn it are doomed to repeat it. After reading this book I was able to see where a number of companies I have observed over the years, including my own Infinity Softworks, have gone off course.
I have already started implementing his ideas for the next generation of Infinity Softworks. I’m certain it will pay off.