Week 1 Goals:

1.  You'll meet the course team - Bill Aulet, Erdin Beshimov, and Laura Diamond
2.  You'll learn why a sip of lemonade is better than winning a science fair.
3.  You'll find out what Lamborghinis have to do with our course.

The lesson from Lemonade, Science Fairs, and Lamborghini:

1.The fundamental business of business is to get paying customers. The single necessary and sufficient condition for a business-- there is one and only one. It is to have a paying customer. So if you have a paying customer, you have a business. If you don't have a paying customer, you don't have a business yet.

2. Erdin built a business to provide the total experience only for Lamborghini, but nothing happen in the first six months. Laura have a 4-years-old VOLVO car, she willing to pay more profit that the same to Lamborghini, so do you think Erdin should be or not take Laura's business?

The advice is NO. Although Laura is a paying customer, but she isn’t Erdin’s segment customer. You should be FOCUS!

How to start your venture if you have a idea
1. Articulate the idea. Describe it. If you aren’t sure how, focus on answering these questions:
(1)  What is the problem you want to solve
(2)  Who experiences that problem
(3)  How you want to solve that problem
(4)  Why this is a better solution

2.  Reach out to at least 10 people who you think are potential users or customers for the idea. Schedule time to meet with them or speak by phone.

Welcome Letters for You from MIT Entrepreneurs: