We Must Learn What Customers

At Imvu, The Cost Of Customer Acquisition Through Our Five-dollar-a-day Adwords Campaign Was Less Than Twenty-five Cents. Our Revenue From Those Same Customers Was More Than A Dollar.

Learning To See Waste And Systematically Eliminate It Has Allowed Lean Companies Such As Toyota To Dominate Entire Industries. Lean Thinking Defines Value As 'providing Benefit To The Customer'; Anything Else Is Waste.

At Imvu, We Opened Up Our Board Meetings To The Whole Company.

Our Educational System Is Not Preparing People For The 21st Century. Failure Is An Essential Part Of Entrepreneurship. If You Work Hard, You Can Get An 'a' Pretty Much Guaranteed, But In Entrepreneurship, That's Not How It Works.

There Is Much That Public Policy Can Do To Support American Entrepreneurs. Health Insurance Reform Will Make It Easier For Entrepreneurs To Take A Chance On A New Business Without Putting Their Family's Health At Risk. Tort Reform Will Make It Easier To Take Prudent Risks On New Products In A Number Of Sectors.