Disciplined Entrepreneurship, 2nd Edition

Disciplined Entrepreneurship, 2nd Edition

by Bill Aulet
Released April 2024
Publisher(s): Wiley
ISBN: 9781394222513

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Book description

An expanded & updated version of the award winning & bestselling one-stop entrepreneurial book used by hundreds of schools globally that has helped create or make better hundreds of thousands of entrepreneurs

Disciplined Entrepreneurship Expanded and Updated starts by combining the timeless and insightful principles of Disciplined Entrepreneurship with the practical tools found in the Disciplined Entrepreneurship Workbook into a single, comprehensive package. The book also has been updated with recent developments in the field and examples as well as a robust new library of additional resources. Author, entrepreneur, professor, and Managing Director of the Martin Trust Center for MIT Entrepreneurship, Bill Aulet systematically walks readers through exactly how to create a successful startup. This book presents a detailed, sequential—but not linear—integrated and proven 24-step framework that any entrepreneur can apply immediately to improve their chances of entrepreneurial success. Readers will also find:

  • The number-one process reason that new ventures fail
  • Entrepreneurship is not an art, but rather a craft that can be learned
  • How the best idea or product is no assurance at all that you will win—there is much more


Perfect for aspiring founders and entrepreneurs within existing organizations, Disciplined Entrepreneurship Expanded & Updated is also an invaluable resource for anyone who has already begun their entrepreneurial journey and needs practical, hands-on tools to help them take their business to the next level.

Table of contents

  1. Cover
  2. Table of Contents
  3. Title Page
  4. Copyright
  5. Dedication
  6. PREFACE
    1. Special Note on this Expanded and Enhanced 10th‐Anniversary Edition
    2. Note
  7. INTRODUCTION: News Flash: Entrepreneurship Can Be Taught!
    1. Ten Common Myths About Entrepreneurship That Must Go
    2. Five Useful Mental Models About Entrepreneurship
    3. Definition of Entrepreneurship
    4. Distinguishing Two Distinct Types of Entrepreneurship
    5. Moving from Introduction to Action and the 24 Steps
    6. Notes
  8. SIX THEMES OF THE 24 STEPS
  9. TRACKING YOUR PROGRESS: THE DISCIPLINED ENTREPRENEURSHIP (DE) CANVAS
    1. What Is the DE Canvas, and Why Is It Important?
    2. Disciplined Entrepreneurship Canvas
    3. Summary
    4. Note
  10. STEP 0: Getting Started
    1. Three Most Common Ways to Start a New Venture
    2. Raison d'Être: Internal Motivations Must Be at a Higher Level
    3. How to Go From “I Have a Passion” to “I Have an Idea or Technology” Good Enough to Start the 24 Steps
    4. Which Comes First, the Idea or the Team?
    5. Finding a Founding Team: Entrepreneurship Is Not a Solo Sport
    6. The Next Step
    7. Notes
  11. STEP 1: Market Segmentation
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. The First Commandment: The Single Necessary and Sufficient Condition for a Business
    5. Three Key Criteria to Be Met If You Are to Create a New Market That You Will Dominate
    6. Complex Paying Customers: Primary versus Secondary Customers and Multi‐Sided Markets
    7. How to Do a Market Segmentation
    8. How Long Should I Spend on Market Segmentation?
    9. What Should I Come Out of Step 1 With?
    10. EXAMPLES
    11. Summary
    12. Note
  12. STEP 1A: Primary Market Research (PMR)
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. A Practical Guide to PMR
    5. What Is PMR?
    6. Summary
    7. Notes
  13. STEP 2: Select a Beachhead Market
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. How to Choose Your Beachhead Market
    5. Your Beachhead Market Still Needs to Be Segmented Further
    6. EXAMPLES
    7. Summary
  14. STEP 3: Build an End User Profile
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. Why Target a Specific Demographic?
    5. How to Build an End User Profile
    6. Does Your Founding Team Include Someone in the End User Profile?
    7. EXAMPLES
    8. Summary
    9. Notes
  15. STEP 4: Calculate the Total Addressable Market (TAM) Size for the Beachhead Market
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. What Should My TAM Be?
    5. EXAMPLES
    6. Worksheets
    7. Summary
  16. STEP 5: Profile the Persona for the Beachhead Market
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. How to Choose and Profile Your Persona
    5. The Persona Is More Than Just a One‐Time Exercise
    6. Should I Create Multiple Personas? If So, When?
    7. The Persona Helps You Focus on What to Do—and What Not to Do
    8. Mitigating the Downside Risks of a Persona
    9. EXAMPLES
    10. Worksheet
    11. Summary
    12. Note
  17. STEP 6: Full Life Cycle Use Case
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. What to Include in a Full Life Cycle Use Case
    5. EXAMPLES
    6. Summary
  18. STEP 7: High‐Level Product Specification
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. Create a High‐Level Product Specification
    5. Next, Make a Product Brochure and/or Landing Page
    6. Concept of Spiraling Innovation
    7. EXAMPLES
    8. Summary
    9. Note
  19. STEP 8: Quantify the Value Proposition
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. Aligning Your Value Proposition with the Persona's Priorities
    5. Keep It Simple: The “As‐Is” State Compared to the “Possible” State with Your Product
    6. EXAMPLES
    7. Summary
  20. STEP 9: Identify Your Next 10 Customers
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Three Criteria to Make the List of Your Next 10 Customers
    4. How to Find Your Next 10 Customers
    5. Is the Current Persona Valid?
    6. EXAMPLES
    7. Summary
  21. STEP 10: Define Your Core
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. General and Specific Examples of Core
    5. Core Is Not Your Quantified Value Proposition Restated
    6. How to Define Your Core
    7. Do Not Disclose Your Core to the Public
    8. What About Patents?
    9. What About Culture?
    10. Core Is Different Than Competitive Position
    11. First‐Mover Advantage Is Not a Core Unless …
    12. Locking Up Suppliers Is Typically a Moat, Not a Core
    13. EXAMPLES
    14. Summary
    15. Notes
  22. STEP 11: Chart Your Competitive Position
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. The Toughest Competitor of All: The Customer's Status Quo
    5. How to Chart Your Competitive Position
    6. EXAMPLES
    7. Summary
  23. STEP 12: Determine the Customer's Decision‐Making Unit (DMU)
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. Primary Roles in the DMU
    5. Additional Roles in the DMU
    6. How to Determine the DMU
    7. EXAMPLES
    8. Summary
  24. STEP 13: Map the Process to Acquire a Paying Customer
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. Budgeting/Purchasing Authority
    5. Time Is of the Essence
    6. Optimizing Your Process Map
    7. Operationalizing Your Process: First‐Draft Sales Funnel
    8. EXAMPLES
    9. Description of the Acquisition Process
    10. Summary
    11. Notes
  25. STEP 13A: Windows of Opportunity and Triggers
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. EXAMPLES
    5. Summary
    6. Note
  26. STEP 14: Calculate the Total Addressable Market Size for Follow‐on Markets
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. Two Directions to Expand—and One Not To
    5. How to Calculate Broader TAM
    6. EXAMPLES
    7. Summary
    8. Note
  27. STEP 15: Design a Business Model
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. A Business Model Is Not Pricing
    5. Key Factors When Designing a Business Model
    6. Generalized Categories of Business Models
    7. Don't Be Afraid to Think Outside the Existing Categories
    8. EXAMPLES
    9. Summary
    10. Note
  28. STEP 16: Set Your Pricing Framework
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. Basic Pricing Concepts
    5. Avoid Analysis Paralysis—Make Your Best Guess and Keep Moving
    6. EXAMPLES
    7. Summary
  29. STEP 17: Calculate the Lifetime Value (LTV) of an Acquired Customer
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. LTV and Unit Economics in Full Perspective
    5. Key Inputs to Calculate the LTV
    6. How to Calculate Lifetime Value
    7. LTV Sample Calculation: “Widget” Plus Yearly Maintenance Fee
    8. Important Considerations
    9. EXAMPLES
    10. Summary
    11. Notes
  30. STEP 18: Design a Scalable Revenue Engine
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. What Are the Different Sales Motions
    5. Your LTV Will Dictate What Sales Motion Options Are Available
    6. Your Sales Process Will Change Over Time
    7. Design a GTM Plan Based on a Mix of Revenue‐Generating Motions That Evolve
    8. Updating Your Sales Funnel
    9. EXAMPLES
    10. Summary
    11. Note
  31. STEP 19: Calculate the Cost of Customer Acquisition (CoCA)
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. Four Factors Entrepreneurs Often Overlook About Customer Acquisition Costs
    5. How Not to Calculate CoCA: A Bottom‐Up Perspective
    6. The Right Way to Calculate CoCA: A Top‐Down Perspective
    7. How to Reduce CoCA
    8. EXAMPLES
    9. Summary
  32. STEP 20: Identify Key Assumptions
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. How to Identify Your Key Assumptions
    5. Five Conditions That Make for a Good Key Assumption
    6. EXAMPLES
    7. Summary
  33. STEP 21: Test Key Assumptions
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. Now That You Have Identified the Assumptions, Test Them
    5. EXAMPLES
    6. EXAMPLES
    7. Summary
  34. STEP 22: Define the Minimum Viable Business Product (MVBP)
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. Three Conditions of an MVBP
    5. The First Part of an MVBP Is That It Must Be Minimal
    6. “Concierge” Anything You Can
    7. Examples
    8. EXAMPLES
    9. Summary
  35. STEP 23: Show That “The Dogs Will Eat the Dog Food”
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. How to Measure Adoption
    5. EXAMPLES
    6. Summary
    7. Notes
  36. STEP 24: Develop a Product Plan
    1. In This Step, You Will:
    2. Why This Step, and Why Now?
    3. Let's Get Started
    4. EXAMPLES
    5. Summary
  37. WHAT ELSE?: Beyond the 24 Steps
    1. It Never Ends
    2. Notes
  38. GLOSSARY
  39. ACKNOWLEDGMENTS
  40. ABOUT THE AUTHOR
  41. INDEX
  42. End User License Agreement

Product information

  • Title: Disciplined Entrepreneurship, 2nd Edition
  • Author(s): Bill Aulet
  • Release date: April 2024
  • Publisher(s): Wiley
  • ISBN: 9781394222513