Masters of Business Administration (MBA) is a post graduate program that, regardless of the specialization, will provide you with conceptual, theoretical and practical training in various aspects of business-like economics, operations marketing, basic accounting, corporate finance etc. It is a multidisciplinary course that trains graduates to establish their name in the field of management. However, if the student has a bent towards one specific area of management, a specialized MBA can be pursued in that specific facet. The pros and cons of a specialized MBA are elaborately discussed later in this article.
You can pursue an MBA in any domain you like. However, the only thing that you should ensure is that it should suit your caliber. If a candidate feels that an MBA in Marketing will come to fruition in the future, he should go for it. Likewise, suppose a candidate has a knack for understanding human behavior and can potentially help an organization connect with appropriate employees to get specific tasks done. In that case, he should invest his time to pursue an MBA in Human Resources Management. Likewise, if a candidate has got a feel for figures, an MBA in accounting or finance will snugly fit in his career trajectory. The specializations for MBA can either be generic (like the ones we mentioned above) or domain-specific. Domain-specific MBA trains the candidate in one particular domain rather than several. The program can be anywhere from 18 months to 2-year time duration and can be taken online or offline. Both the modes provide equal value addition.
1. VEDVRAT CHOUDHARY - 2202250
VIBHOR GUPTA - 2202251
VISHESH KUKREJA - 2202259
VIVEK KUMAR - 2202260
INNOVATION & ENTREPRENEURSHIP
Building Product, Talking to Users and
Growing
2. THE N00B APPROACH
• Build the product in secret
• Exclusive press launch
• Wait for users
• Buy users
• Give up
3. • What is it?(one sentence)
• How does it relate to you?
• Verify others have it
PROBLEM
4. WHERE TO START?
• Learn a lot. Become an expert (Homejoy example)
• Find all about your competitors
• Identify customer segments
• Storyboard ideal user experience
5. WHAT IS V1?
• Minimum viable product
• Simple product positioning
• This is not the hard part….
6. FIRST FEW USERS
• You
• Your mom, friends, co-workers
• Online communities, e.g. HN, reddit
• Local communities, e.g. mailing lists
• Niche influencers, e.g. mommy bloggers
• Cold calls + emails
• Press
7. CUSTOMER FEEDBACK
• Support: very important
• Surveys: OK, Interviews: better
• Quantitative: retention, ratings, NPS
• Qualitative: ask why, why, why
• Beware of honesty curve
8. V-one FEATURE CREEP
• Build fast, but optimize for now
• Manual before automation
• Temporary brokenness > permanent paralysis
• Beware of Frankenstein
9. S IS FOR STEALTH AND STUPID
• Someone will steal your idea
• There is a first mover advantage
• Just launch it already
10. READY FOR A LOT USERS?
• Learn one channel at a time
• Iterate working channels
• Revisit Failed channels
• Key = Creativity
