In the old days, a company raised money, used it to make a product, and then tried to sell it. This represents a Make and Sell approach to business. Today that no longer works. Today, a business needs to develop a Minimal Marketable Product (Beta Version) that is sold to earlier adopters, make observations about how consumers use it, and respond by improving the final product (V1.0). This represents and Sense and Respond approach.
