A good friend of mine who decided to leave his job and pursue his own business, has asked me to assist him in developing his initial idea into a business. During our conversation, he had many questions and concerns about various aspects of his new business such as:
- Should he write a business plan?
- How and when he should raise his capital?
- How should he choose his team?
- How should he pitch his idea to others? and how many time should he practice before his first pitch?
For all of these questions and for many more decision points that entrepreneurs face as they establish their own business Guy Kawasaki, a former Apple Executive and a current Venture Capitalist, has written this book.
The book is structured in based on the different steps founders’ should work on when building their business. then in each one of these steps the author shares best practices and interesting stories that are relevant from his experience in apple and investor in early stage companies.
Throughout the book, he provides a detailed explanation about how to do every step in the way for a successful business. The thing that I liked so much about this book was how practical it is in comparison to some of the other books about this topic.
Obviously, building a new venture is not a “one plan fits all” type of a thing (otherwise we would all be millionaires already), however the book provides a really good overview and ball park estimations for steps that are crucial for every new business. That, especially due to the high ambiguity that is usually involved in building a new building from scratch, can be really helpful when building a new venture from scratch.
Gladly, my friend decided to take my advice and read the book and got an answer to most of his burning issues. The next phase that he should take care of now is the managing of the idea, a complicated issue by itself, but that is the topic for another book..