Startup Concepts - pick what suits you
In today's rapidly evolving business world, entrepreneurs are constantly seeking new ways to gain a competitive edge. This article explores four uncommon startup concepts that could provide that crucial advantage: Effectuation, Jugaad Innovation, Customer Development Model, and Exponential Organizations. Let's delve into each concept and examine three examples for each. 1. Effectuation Effectuation, developed by Saras Sarasvathy, emphasizes starting with available resources and focusing on controllable factors rather than trying to predict the future. This approach is particularly useful in uncertain environments. Examples: a) Grameen Bank: Founded by Muhammad Yunus, it started with a small $27 loan to 42 women, growing into a global microfinance movement. b) Airbnb: The founders initially rented out air mattresses in their apartment to make rent, gradually building a global hospitality platform. c) Patagonia: Yvon Chouinard started by making climbing pitons for himself and fr...