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Category: Entrepreneurship

  • The Entrepreneur’s GPS: Finding Your Place on the Science-to-Market Continuum

    The Entrepreneur’s GPS: Finding Your Place on the Science-to-Market Continuum

    Remember that healthcare session where we were discussing different types of ventures (if not check out with NSRCEL)? You asked me for a source on the framework I explained, and since I couldn’t point you to one, here’s the version I wrote up for you. Think of it as your GPS for understanding where your venture sits—and more importantly, what approach might actually work for you.

    The Big Idea: It’s All About How You Create Value

    Not all businesses are created equal. Some live in labs, others thrive in markets. Most lie somewhere in between. The key is understanding where you are on what I call the Science-to-Market Continuum—because the strategies that work for a biotech startup will likely crash and burn for a neighbourhood retailer.


    The Five Stops on Our Continuum

    Let me walk you through each type, because knowing where you fit changes everything about how you should build your venture.

    1. Science Businesses: The Lab Heroes

    These are the folks creating breakthrough scientific innovations that could change entire industries. Think of a team developing a revolutionary crystal structure that makes drilling equipment stronger, lighter, and more durable than anything we’ve seen. The same crystal may be used in another industry for a different use!

    The Reality Check: You’re not just building a product—you’re proving that science works in the real world. Your biggest headache? Getting from lab bench to factory floor. And here’s the kicker—you often need a whole ecosystem of partners to make your innovation valuable to end customers.

    1. Technology Businesses: The System Builders

    These ventures develop specific technologies that can plug into existing processes and multiply outcomes. You’re essentially creating the engine that makes other businesses run faster or better.

    Smart Move: Many license their technology early (remember how Google’s founders licensed their search tech to Yahoo! before going solo?). This generates cash, proves the technology works, and gets investor attention for the bigger play ahead.

    1. Technology-Based Businesses: The Use-Case Champions

    Here’s where you bet big on a specific application of existing technology. You see the potential in something generic and decide to build a focused solution around it. Oracle turning database technology into enterprise gold? Classic example.

    Watch Out: If you’re not crystal clear on your use case, you’ll need to navigate the narrowing process carefully. Grab a copy of “Crossing the Chasm“—it’s your playbook here.

    1. Technology-Enabled Businesses: The Problem Solvers

    You start with a market frustration and then assemble existing technologies to solve it. The Taxi4Sure story fits perfectly—founders frustrated with unreliable airport taxis built their solution using available tech, inspired by Uber but adapted for Indian realities.

    Key Insight: Inspiration doesn’t equal imitation. Just because something works elsewhere doesn’t mean you can copy-paste it to your market.

    1. Pure Market Businesses: The Access Providers

    These businesses thrive on making things available when and where customers want them. Your neighbourhood store? Perfect example. Technology is nice-to-have, not must-have. The business survives on market understanding, not tech wizardry.

    Why This Framework Changes Your Game

    Here’s the thing that tripped up several participants in our session: using the wrong playbook for your venture type is like bringing a knife to a gunfight.

    Try running lean startup methodology on a science business? You’ll go crazy waiting for those long research cycles. Use a science approach for a market business? You’ll over-engineer solutions for problems that don’t need complex fixes.

    The Plot Twist: Nothing Stays Static

    Companies don’t stay put on this continuum. They move left (toward science) or right (toward market) as they evolve. Amazon started as a pure market play (online bookstore) and now has AWS (technology) and Alexa (science-heavy AI). Understanding these shifts helps you plan your next moves.

    Your Action Plan

    1. Identify where you are on the continuum right now
    2. Choose strategies that match your position
    3. Prepare for movement—know which direction makes sense for your growth
    4. Build the right team for your stage (scientists vs. marketers vs. hybrid skills)

    The healthcare ventures I meet often struggle because they’re stuck between science and market—trying to prove efficacy while building commercial traction. Recognising this helps you sequence your efforts better.

    What’s Your Take?

    I’d love to hear which part of this continuum your venture calls home—and whether you’ve felt the pain of using mismatched strategies. Drop a comment below and let’s discuss your specific situation.

    Want me to dive deeper into how ventures move along this continuum? Many of you asked about this during our session. If there’s enough interest, I’ll write up those dynamics in my next post. Just let me know in the comments!

    Found this framework helpful? Share it with your entrepreneur friends who might be struggling to find their strategic footing. Sometimes the best gift is clarity.

    ! Disclaimer: the draft above was created based on the full length draft I wrote up explaining each of the concepts using claude 4.0. If you want to read the orginal. Do reach out.

  • The First Mile – Scott D. Anthony

    Starting a new venture always feels exciting, but the real test happens in what Scott D. Anthony calls “the first mile”—that leap from idea to reality. Reading this book was especially useful for students and aspiring entrepreneurs, since the first mile is where mistakes (and big learning) often happen.

    What Makes the First Mile So Important?

    Anthony shows that ideas aren’t the problem—it’s the process that trips most people up. The first mile is where hopes are high but risks are hidden, and getting through it needs more than optimism—it needs a plan and discipline.

    The DEFT Framework (Made Simple)

    The book’s DEFT approach is a handy guide to taking an idea and nurturing it safely:

    • Document: Write out the details—what makes your idea unique and what needs to go right.
    • Evaluate: Question your assumptions and get real about what’s uncertain.
    • Focus: Prioritize the biggest risks and pick the few issues that really matter.
    • Test: Use small, fast experiments to turn guesses into facts before investing too much.

    The Four First Mile Challenges

    Anthony warns that there are four classic mistakes innovators make in the early stage, and he gives advice on how to dodge each one:

    1. Making a Wrong Turn
      This challenge is about heading down the wrong path—maybe due to weak research or wishful thinking. To avoid this, founders should run tests early and use honest feedback to adjust their direction. Quick experiments save time and prevent costly detours .
    2. Running Out of Fuel
      This means burning through resources (like cash, energy, or team focus) before getting traction. Anthony urges entrepreneurs to be disciplined: spend only on clear proof points and review progress regularly so you don’t run dry before reaching your first real wins.
    3. Picking the Wrong Driver
      Having the wrong people in charge—or a mismatched leadership team—can make a strong idea stumble. It’s critical to match the project’s needs with the team’s strengths, and, if necessary, adjust roles or bring in new talent as the project evolves.
    4. Premature Scaling
      Trying to grow too soon, before validating key assumptions, is deadly. Anthony explains that scaling should only happen when the essentials (like product fit, market demand, and a repeatable process) are in place. Scale comes after proof, not before.

    Some Practical Tips

    • Use maps and scorecards to rank risks and decide what to tackle next.
    • Try different types of experiments (like quick interviews or small pilots) so mistakes are cheap and lessons are quick.
    • Keep learning as your core metric—progress isn’t just sales, but how much uncertainty you’ve reduced each week.

    Why This Matters for Students and New Founders

    This book is not full of fancy jargon but gives step-by-step ways to turn confusion and risk into clarity. If you read just one chapter—or remember a single habit—make it about picking one critical risk at a time and testing it quickly. That’s how you’ll make every mile count.

    If you want the journey through your first mile to be smoother, Anthony’s honest advice (and the DEFT method) is a good starting point. It’ll help you travel farther without falling into these common traps. It is a good complement to the Lean Startup appraoch.

  • Secrets of Sand Hill Road – Scott Kupor

    If you’re unfamiliar with venture capital and startup fundraising, Scott Kupor’s book “Secrets of Sand Hill Road” serves as a guide through a complex landscape. Experienced founders who have been through several funding rounds might recognize some ideas, but for newcomers, it offers a wealth of practical and actionable advice. In “Secrets of Sand Hill Road,” Kupor reveals the inner workings of venture capital, sharing insights that even veteran entrepreneurs seldom discuss. Here’s a straightforward summary of why this book is invaluable for first-time founders and startup enthusiasts.

    The book delves deeply into the often-murky world of venture financing. Kupor, managing partner at Andreessen Horowitz (a16z), exposes how venture capitalists think, operate, and make decisions. He clarifies topics that are rarely explained so clearly, providing founders with a guide to better understand their potential investors.

    From my reading, here are some points I believe will be especially useful and interesting to you:

    1. Understanding the VC Mindset and Fund Economics
      Kupor carefully explains the economics behind a venture capital fund. This covers not only how VCs earn money but also why they make certain decisions. He breaks down concepts like fund size, management fees, carried interest, and the power law distribution of returns. Knowing that VCs rely on big successes to make their funds profitable helps you shape your pitch and grasp their tolerance for risk. This perspective shift can help you align your approach with their objectives.
    2. The Term Sheet Demystified
      For many founders, the term sheet can seem like a complicated legal document full of jargon. Kupor spends considerable time explaining the parts of a term sheet, covering liquidation preferences, anti-dilution clauses, vesting schedules, and board representation. He clarifies what each term means for founders, empowering you to negotiate more confidently and avoid common mistakes. This section alone is worth reading, as it gives you the tools to protect your equity and control.
    3. The Due Diligence Process Explained
      What happens after a VC shows interest? The book thoroughly describes the due diligence process. It’s not just about your financials; VCs will examine your team, market, technology, and customer traction. Kupor provides insights into what VCs seek and how to prepare for this thorough review. Knowing what to expect can reduce stress and improve your chances of securing funding.
    4. Beyond the Money: The Value VCs Bring (and Don’t)
      Kupor offers a realistic view of the value VCs add beyond capital. He discusses how venture firms can help with recruiting, strategic advice, and networking. However, he also stresses that VCs are not operational partners and that founders remain responsible for running the company. This balanced perspective helps founders set realistic expectations and use their investors effectively without relinquishing control.

    Additional reasons that make the book special include its focus on:

    1. Fundraising Psychology
      Beyond the numbers, Kupor highlights the human element: what earns investors’ trust and how to build relationships that last beyond a single investment.
    2. Board Dynamics
      You’ll learn how board meetings actually function, why members vote as they do, and how to prepare for both supportive and challenging discussions.
    3. The Long Game
      The book explores why VCs think in terms of 10-year horizons, helping founders set realistic goals for growth and exit strategies.

    Written clearly and straightforwardly, the book makes complex topics accessible. It serves as a comprehensive playbook that can help you avoid costly errors and greatly improve your chances of obtaining the right funding for your startup.

    “Secrets of Sand Hill Road” is not just about raising money; it’s about understanding the entire venture capital ecosystem from the investor’s viewpoint. It’s an essential resource that equips founders with knowledge to navigate the VC world with confidence and clarity. Overall, it’s an easy and insightful read that prepares you for conversations that could shape your company’s relationship with venture capital.

    Key Quotes to Share
    Here are two quotes I believe you’ll appreciate after reading the book:
    “Fundraising is not a one-time event—it’s the beginning of a long-term partnership.”
    “Your valuation is not just a number; it’s a reflection of what you’re promising to build.”

    So, which part of the VC playbook excites or intimidates you the most? Leave a comment—let’s explore the investor’s mindset together.

  • The Hard thing about hard things – Ben Horowitz

    Image of the books' coverpage

    Simply an amazing book! If you are the CEO of a startup that is scaling and you are looking for a collection of learnings that could help you develop multiple perspectives about what the options that are available are, this is the book.

    Horowitz talks about several dilemmas that run through the minds of the entrepreneurs. In addition to sharing the personal war stories and several of the other companies that you may have heard about, he gets the challenges to the fore. The issues he talks about cover demoting/firing a friend; using titles and promotions; hiring from a friend’s company; managing personal psychology; hiring the smart people and what to do when they are bad employees; when to sell your company; and many more.

    I have recommended this book to several entrepreneurs who I believe are in the stage of looking if they have some right answers. If you are too, get yourself a copy.

    Happy Reading!

  • Trillon Dollar Coach – Eric Schmidt and others

    I had read about Bill Campbell, who had mentored several Silicon Valley founding teams, and when I learned this book was about him, I could not wait to get it and start reading.

    Quite unlike several other books, where the authors are working closely to put across their ideas, this one was more a tribute to their coach. Eric, along with Jonathan Rosenberg and Anal Eagle, takes you through their experience and the experiences of several others who had benefitted from the coach’s direction in their lives. Filled with several anecdotal stories, this book sheds light on what the authors feel were the key principles with which Coach Campbell operated.

    I find this a lovely read, which I guess I would like to go back to several times over the years to learn how to deal with people.

    Happy Reading!

  • Voltage Effect – John A List

    One of the rare books that I have read about scaling up of ventures. Written by a behavioral economist and an academician, John A. List, this book integrates the scaling challenges and the experimental rigor in its writing. I loved this.

    Building on his personal experience of working with Uber and then later Lyft, John touches up on several aspects that would be helpful when one is trying to understand the venture scaling from a relative distance. He highlights several key conditions for scaling, like the ingredient’s vs. the chef, the challenge of false positives, spillovers, the role of incentives, knowing when to pull the plug, and many more aspects.

    If you are grappling with trying to understand what some of the conditions could be that could answer if it is the time to scale and what you would need as ingredients before you start, this book will give you some of the answers. 

    Happy Reading!

  • Masters of Scale – Reid Hoffman

    I had been listening to Reid Hoffman’s podcast with the same title—the Masters of Scale—for nearly a year and felt there may be something more that I would get from this book. But I must admit, I was a bit disappointed while I read through the book. Most of the book talks about similar lessons that have been shared in the podcast, and this book gives very little additional insight or analysis that I would have loved to see from Hoffman, where he has a more elaborate canvas to detail out.

    I must admit, this could be my bias given the years I have put into the entrepreneurial ecosystem here. You may also find the book interesting if you have not heard the podcast as well.

    Happy Reading!

  • The Mom Test – Rob Fitzpatrick

    An exceptionally quick and handy read for those who are in the early stages of your startup journey. If you are thinking of following the lean startup approach of conducting qualitative interviews with your potential customers, this book is a must-read.

    Of all the examples and learnings he shares, I love the mom and son conversation, which I borrow into my classrooms (mostly my MBA classes) to explain the importance of listening to customers before you sell the solution. The book is embedded with several nuggets of learning for the early stages of an entrepreneur.

    I would recommend this one for all early-stage entrepreneurs.

    Happy Reading!

  • The Culture Code- Daniel Coyle

    One of my quests is about how organizational cultures get formed. My search got me to this handy book, which I suggest entrepreneurs do read—preferably early on in their venture so that they give themselves the time to build the organizational culture and allow for its development before they get to the growth phase where it’s the recruits and culture that would take over more of what they are doing through direct intervention.

    Daniel in The Culture Code breaks down the process of forming a culture for successful groups into three phases. The first emphasizes building safety into the culture, allowing for people to develop trust. The second emphasizes the role of sharing vulnerability in building the exchanges that would allow for trust to strengthen within the team and develop cooperation among the teams. And lastly, the role purposes play in the continuation of the group performance once the team culture has begun to take root.

    I would recommend this one for all early-stage entrepreneurs.

    Happy Reading!

  • 7 Sutras of Innovation – Nikhil Inamdar

    Image of cover page - 7 sutras of innovation

    This book by Nikhil was sponsored by the Marico Innovation Foundation to study the scaling up of eight organizations to emerge as the top player in their own fields. No, it was not intentional that I went out searching for another book by Nikhil Inamdar the same year. It is just one of the coincidences.

    Given the mandate of talking about these eight ventures, I think Nikhil has done a great job of presenting the stories of the eight ventures. I loved reading the stories of the following eight companies in the book: Tanbo Imaging, Goonj, Rivigo, ISRO, Forus Health, Agastya International Foundation, The Better India, and St Judes.

    The academician in me, however, began asking the question, so what? What could we extract from these eight that we could generalize? This is one layer that I would have loved to see in this book. I understand it may not have been the objective of the book, but I feel it would have given it a sense of direction having read the stories.

    Happy Reading!