Post by arfanho7 on Feb 22, 2024 0:33:36 GMT -7
Purchase this case How to Predict if a New Business Idea is Any Good by Michael Blanding Professor Pian Shu tackles one of the most difficult questions in the startup world How can you tell if a new business will succeed In entrepreneur Brian Chesky and his two San Francisco roommates made the rounds of Silicon Valley VC firms with what they thought was a great idea a website and mobile app that would allow homeowners to open their homes to strangers to sleep on their floor while traveling in exchange for a nightly fee.
Of course now we know the idea as Airbnb a billion business with . million listings around the world. But back then it must have seemed crazy. The liability issues alone seemed insurmountable—to say nothing of the likelihood that people would be willing to give the keys of their houses to total strangers who may or America Cell Phone Number List may not be serial killers. Five VC firms rejected the nascent company’s pitch outright and another two didn’t even bother to reply. “ ever do this ” says Assistant Professor Pian Shu a member of the Technology and Operations Management unit at Harvard Business School. “They didn’t know it would turn out to be a multibillion dollar industry.
Uncanny ability to pick winners Analyzing the data along with MIT VMS’s Roman Lubynsky the researchers found that overall in fact the mentors had an uncanny ability to predict the success of ideas. Compared to an average venture which attracted interest from six mentors a venture that attracted twice as much interest was percent more likely to commercialize which Shu and her colleagues defined as having multiple repeated sales an Amazon storefront or a technology licensing among other measures of success.
Of course now we know the idea as Airbnb a billion business with . million listings around the world. But back then it must have seemed crazy. The liability issues alone seemed insurmountable—to say nothing of the likelihood that people would be willing to give the keys of their houses to total strangers who may or America Cell Phone Number List may not be serial killers. Five VC firms rejected the nascent company’s pitch outright and another two didn’t even bother to reply. “ ever do this ” says Assistant Professor Pian Shu a member of the Technology and Operations Management unit at Harvard Business School. “They didn’t know it would turn out to be a multibillion dollar industry.
Uncanny ability to pick winners Analyzing the data along with MIT VMS’s Roman Lubynsky the researchers found that overall in fact the mentors had an uncanny ability to predict the success of ideas. Compared to an average venture which attracted interest from six mentors a venture that attracted twice as much interest was percent more likely to commercialize which Shu and her colleagues defined as having multiple repeated sales an Amazon storefront or a technology licensing among other measures of success.