Disciplined Entrepreneurship: 24 Steps to a Successful Startup

GLOSSARY

adjacent market A new market that you can easily enter from the market you are currently in; requires its own persona.

beachhead market The first market your business sells in.

business A viable organization created to achieve a goal that does not depend on outside charitable contributions.

cash-flow positive When the cash received by the company exceeds the cash that is paid out in a particular month.

competitive position How well you meet your customer's top two priorities compared to any existing or likely competition, including the status quo for the customer.

Core The central element to your business that gives you a sustained advantage over your competitors.

follow-on market A market you enter after gaining significant market share in the market you are currently in, which for this book will be the beachhead market. Either an adjacent market buying the same application as the beachhead market, or an additional application for your current persona.

gross margin The difference between revenue and marginal costs for your product. Expressed as a percentage, so a 20 percent gross margin means your revenue from each unit of product is 20 percent higher than your cost of making a unit of a product.

innovation A new-to-the-world idea or invention that gets commercialized, either by an existing business or through starting a new business. It may be technology, process, business ...