New business ideas tend to fall into two camps. It helps for a team to be clear which kind of business they are trying to drive as they need different kinds of leadership and management.
- Brave New World ideas are radically new and need to create their own market. There are no incumbent competitors, no economic model and a startup team must invent the model as they go along. Businesses like this need a plan but are very likely to diverge significantly from it as they find their way.
- Better-Faster-Cheaper ideas deliver something that the market already gets in an improved way. Businesses like this need to focus on execution of their plan.