My friend and business mentor Danny Warshay of DEWventures.com and I had our bi-weekly “intimate-phone-chat-that-we-record-and-send-to-anyone-who-will-listen” on Monday.
Danny teaches entrepreneurship at Brown University, the only Ivy League school named after the first word of a Van Morrison song title, and he is an alum of Harvard Business School, which impresses you even if you won’t admit it.
Plus he spent a few years in brand management at Procter & Gamble.
Plus he’s a serial start-up guy, lending his talents to a bunch of new ventures in publishing, natural health, engineering, and so on.
Plus plus he travels around the world teaching and consulting on entrepreneurship, from China to Egypt to Portugal to Israel to I can’t even keep track of where else.
So when we got on the horn to talk about what he calls “bottom up research,” I was all ears.
My Beginner Entrepreneurial Mistake
And when – this was totally unrehearsed – I mentioned an early mistake I made when I was first starting out on my own, I got Danny onto his soapbox in a big way. It starts at 4 minutes 30 seconds in the audio (below).
Danny’s mild-mannered, calm, earnest demeanor vanished as he ranted about how many times he hears otherwise savvy entrepreneurs pull out this particular number – the one I had used – to justify their business plan to themselves, to partners and to investors.
In the process, you’ll discover how to conduct free research that’s arguably more valuable than anything you can buy or commission. Danny shares two examples of “bottom up research” from his P&G days, showing how Tide and Dawn teams innovated based on this method of research that’s available to all of us, regardless of how pinched our pennies.
Click the arrow below for a short course in entrepreneurship from one of the leading teachers in the US. Or click the blue link to download the MP3 for listening at your leisure: