Uri Levine was frustrated by traffic jams on his commute and found validation that the problem was widespread. His solution was to co-found Waze, the crowd-sourced GPS navigation platform which became a major competitor to Google Maps before being acquired by Google for $1.4 billion.

But Uri's new book,  Fall in Love with the Problem, Not the Solution: A Handbook for Entrepreneurs is not the story of Waze. It's not one story about entrepreneurship. It's completely an A-to-Z handbook for entrepreneurs with so many specific sections, like:

• How to do a demo,
• How to build a slide deck
• How to make an effective presentation
• How do you evaluate a term sheet?
• What metrics do you use to measure the growth of your company?
• How do you manage investors, fire people, and hire people?
• What deal terms need to be negotiated for the exit?

This is such a valuable guide, it really is, and today's conversation builds upon these principles. 

Listen on as Uri & James discuss all of these topics and more, including:

• Waze built its maps using user GPS data, why did the first 1000 users download Waze? (00:11:22)
• The 4 Stages of Users: Innovators -> Early Adopters -> Early Majority -> Late Majority (00:13:14)
• What percentage of successes are problem-based vs innovation-based? (00:15:46)
• How do you distinguish between your users and your customers? (00:16:50)
• Did Waze ever consider charging subscriptions to the users? (00:18:37)
• What metrics do you look at to see if a business is on the right path? (00:39:25)
• Did Waze ever consider licensing navigation data? (00:47:39)
• Why is it more valuable to talk to customers who don't like you? (00:48:27)
• What are some techniques to cement a good first impression? (00:53:30)

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I write about all my podcasts! Check out the full post and learn what I learned at jamesaltucher.com/podcast.

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• Visit Notepd.com to read our idea lists & sign up to create your own!
• My new book, Skip the Line, is out! Make sure you get a copy wherever books are sold!
• Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.
• I write about all my podcasts! Check out the full post and learn what I learned at jamesaltuchershow.com

------------

Thank you so much for listening! If you like this episode, please rate, review, and subscribe to “The James Altucher Show” wherever you get your podcasts: 

• Apple Podcasts
• iHeart Radio
• Spotify

Follow me on social media:

• YouTube
• Twitter
• Facebook
• LinkedIn