Scott Anthony, a respected lecturer and writer for the Harvard Business Review, is an innovator in his teaching style. He prefers a give-and-take method with his audiences, affirming that he learns as much from panel members as they do from him. This year, he compiled a list of questions he is routinely asked at his speaking engagements regarding entrepreneurship.
Anthony is not one to mince words and is clear and concise in his advice. He affirms that at his many speaking engagements, he is often asked how to best spot room for innovation in an industry, a question he says is easily answered by talking to the consumer you wish to target. Moreover, when asked which customers to target, Anthony believes that you must look beyond "your best customers to those who face a constraint that inhibits their ability to solve the problems they face in their life."
When starting a business, Anthony asserts that budding entrepreneurs should first find "an important problem that is not adequately solved by current solutions," thereby avoiding focus groups and instead concentrating on "deep,ethnographic research." One of the most commonly asked questions, Anthony says, is how to know if an idea is good, something he says you must "let patterns guide and actions decide."
Many budding entrepreneurs also want to know how long is an appropriate amount of time to wait for a business to take off, something Anthony declares is "almost always longer than initial projections," asserting that you must be "patient for growth and impatient for profits."