article thumbnail

On Bubbles … And Why We’ll Be Just Fine

Both Sides of the Table

I know that most people who are close to them tend to deny their existence, as we saw in the great housing bubble of 2002-2007 and the dot com bubble of 1997-2000. That happened a lot in 2002 and again in 2008. Those with strong business models suddenly stand out when the tide goes out. Have a cushion.

article thumbnail

Stitch Fix: Reinventing Retail Through Personalization

abovethecrowd.com

While I am extremely proud of that team’s accomplishments (the parent company recombined Nordstrom.com in 2002 and the direct division now has revenue of over $1.25B and is the fastest growing unit inside of Nordstrom ), I built a healthy respect for the complexities and difficulties of managing women’s fashion inventory.

Insiders

Sign Up for our Newsletter

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

article thumbnail

The Evolution of Entrepreneurial Education and Corporate Innovation

Steve Blank

Philip Bouchard : You’ve started teaching at Berkeley since 2002, Columbia in 2003 and at Stanford since 2011. Steve Blank: When I first starting teaching, the capstone entrepreneurship class was how to write a business plan. SB: I think ethics are a critical missing component of most business curriculums.

Incubator 331
article thumbnail

Making Decisions in Context

Austin Startup

Your business works as intended if you can attract customers that fit into the context of your operation. Do they perceive enough value to pay prices that create for you a profit margin that matches your business model? Choose the engineers who understand the meaning of staying on task and fulfilling a business requirement.

article thumbnail

Hacking For Defense In Silicon Valley

Steve Blank

In a major break from the past, where the military designed all its own weapons, 10,000 scientists and engineers from academia worked in civilian-run weapons labs (most headquartered in universities) in an organization called the Office of Scientific Research and Development (OSRD). In Afghanistan in 2002 U.S. The Gulf Wars.

article thumbnail

It’s Time to Play Moneyball: The Investment Readiness Level

Steve Blank

Teams can prove their competence and validate their ideas by showing investors evidence that there’s a repeatable and scalable business model. A Lean Startup methodology offers entrepreneurs a framework to focus on what’s important: Business Model Discovery. We focus on evidence and trajectory across the business model.

Oakland 326
article thumbnail

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

Steve Blank

And they rolled all of this up into a set of financial forecasts with a “size of market” forecast from brand name management consulting firms that said they’d have 42 million customers by 2002. A Business Plan Frozen in Time. But Iridium’s business model assumptions were fixed like it was still 1990.