Remove 1998 Remove Customer Development Remove Engineer Remove Product
article thumbnail

Why Pioneers Have Arrows In Their Backs

Steve Blank

The irony is that in a retrospective paper ten years later (1998), [ 2 ] the authors backed off from their claims. 3] In their analysis Golder and Tellis found almost half of the market pioneers (First Movers) in their sample of 500 brands in 50 product categories failed. First to develop or patent an idea. Product Pioneer.

article thumbnail

No Business Plan Survives First Contact With A Customer – The 5.2 billion dollar mistake.

Steve Blank

But nine months after the first call was made in 1998, Iridium was in Chapter 11 bankruptcy. When it was spun out as a a separate company, Iridium’s 1990 business plan had assumptions about potential customers, their problems and the product needed to solve that problem. No Business Plan survives first contact with a customer.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

New Rules for the New Internet Bubble

Steve Blank

Startups needed millions of dollars of funding just to get their first product out the door to customers. A hardware startup had to equip a factory to manufacture the product. Customer Development , Agile Engineering and the Lean methodology enforced a process of incremental and iterative development.

Internet 334
article thumbnail

The rise of the “successful” unsustainable company

A Smart Bear: Startups and Marketing for Geeks

” Here’s the summary of his track record (excerpted from the Fast Company article): Forefront — IPO’ed in 1995 by CBT — CBT stock fell 85% in 1998 and prompted class-action lawsuits. Like GroupOn, with a product that everyone agreed was brilliant, spawning 1,000 copy-cats. Support.com — On 2.5m

IPO 240
article thumbnail

The Lean Entrepreneur is here

Startup Lessons Learned

PayPal, under the leadership of David Marcus and Bill Scott, re-defining and re-engineering itself by embracing Lean Startup to improve the product experience. This doesn't mean pointing to the product and describing the product's value, but rather the marketing provides value itself. It's a big tent.

Lean 167
article thumbnail

Finding Technical Cofounders Is Hard

rob.by

He argued that software engineers don’t finish what they start, and that you’re better off paying a technical person than partnering with one. He picked engineers who were technically-driven but not entrepreneurially-driven. He picked engineers who weren’t comfortable taking risks as great as he wanted to take.

article thumbnail

Datablindness

Startup Lessons Learned

Lessons Learned by Eric Ries Monday, June 8, 2009 Datablindness Most of us are swimming in a sea of data about our products, companies, and teams. For example, a recent event I held started with a customer validation exercise (actually, this example is fictionalized for clarity). Too much of this data is non- actionable.