Steve Blank

SEPTEMBER 21, 2012

Either way, the “hurdle” for successful, scalable startups is high, and it gets higher every day as customer acquisition challenges continue to increase. There’s just no other way but, as Steve Blank has said for a decade, to “get out of the building” and talk to the only folks who matter—your customers.

Startup 332

Startup Cofounder Customer Development Viral 332

Steve Blank

JUNE 8, 2021

This class is built on conducting in-person of interviews with customers/ beneficiaries and stakeholders, but due to the pandemic, teams now had to do all their customer discovery via a computer screen. How would customer interviews work via video? See here for an extended discussion of remote customer discovery.).

Lean 385

Lean Security Asia SBIR 385

Steve Blank

OCTOBER 10, 2011

Instead the business press dumped on the founders for “selling out.” In 2010 it got worse with an Act in parliament about the Monitoring of Foreigners’ Corporate Acquisitions. Filed under: Business Model versus Business Plan , Customer Development , Teaching , Venture Capital.

Finland 324

Finland Naming Russia Government 324

Steve Blank

DECEMBER 2, 2013

We talk a lot about Customer Development, but there’s nothing like seeing it in action to understand its power. Here’s what happened when an extraordinary Digital Health team gained several critical insights about their business model. The class has talked to ~2,200 customers to date. A Five-sided Market.

Customer 323

Customer Churn Rate Customer Development Lean 323

Steve Blank

FEBRUARY 23, 2016

As we prepared for the new Hacking for Defense class at Stanford, we had to stop and ask ourselves: How do we use the Business Model Canvas if the primary goal is not to earn money, but to fulfill a mission? In other words, how can we adapt the Business Model Canvas when the metrics of success for an organization is not revenue?

Business Model 120

Business Model Revenue Channel Community 120

Startup Lessons Learned

DECEMBER 14, 2009

Lessons Learned by Eric Ries Monday, December 14, 2009 Business ecology and the four customer currencies Lately, I’ve been rethinking the concept of “business model&# for startups, in favor of something I call “business ecology.&# Let’s begin with the four customer currencies.

Customer 156

Customer San Francisco Viral Lean 156

Steve Blank

JANUARY 21, 2016

You must also understand the value the product provides customers (along with the rest of your business model.). And going for crowdfunding before you do customer discovery with customers can lock you into the wrong idea too early. Filed under: Customer Development , SiriusXM Radio Show.

Detroit 120

Detroit Baltimore Entrepreneur Cofounder 120

Steve Blank

MARCH 18, 2014

Now you can watch Part 2 “ The Lean Approach “ This group of six videos provides an overview of how to successfully do Customer Discovery. You’ll learn how to: get to know your customers. get, keep and grow customers. 1:28: Using the Business Model Canvas. 0:24: What is Customer Development?

Intellectual Property 328

Intellectual Property Lean Customer Development Acquisition 328

Steve Blank

JUNE 12, 2020

Second, this class – which is built on the idea of interviewing customers/beneficiaries and stakeholders in person – now had to do all their customer discovery via a computer screen. How on earth would customer interviews work via video? At first this seemed to be a fatal stake through the heart of the class.

Oakland 301

Oakland Asia Lean Video 301

Steve Blank

OCTOBER 31, 2014

There’s nothing wrong with a business that supports you and perhaps an extended family. But if you want to build a scalable startup you need to be asking how you can you get enough customers/users/payers to build a business that can grow revenues past several $100M/year. With 317 million people the U.S. Trip 2 to the U.S.

Global 335

Global Australia Silicon Valley China 335

Steve Blank

JANUARY 14, 2014

A pivot can change any of nine different things in your business model. A pivot may mean you changed your customer segment, your channel, revenue model/pricing, resources, activities, costs, partners, customer acquisition – lots of other things than just the product. Business Model.

Business Model 330

Business Model Lean Customer Development Channel 330

Steve Blank

SEPTEMBER 14, 2009

In this time, building a successful business meant building a company that had paying customers quarter after quarter. It did not mean building a startup into a company to flip or hype on the market with no earnings or revenue, but building a company that had paying customers. billion.)

Silicon Valley 217

Silicon Valley IPO Technical Review Venture Capital 217

Steve Blank

APRIL 20, 2021

Shawn immediately said the name I had given the four steps was confusing – I had called it market development – he suggested that I call it Customer Development – and the name stuck. It bears repeating: an early-stage startup must focus on making one customer group excited by a mission-aligned product.

Product 436

Product Viral Channel San Francisco 436

Startup Lessons Learned

APRIL 14, 2009

Lessons Learned by Eric Ries Tuesday, April 14, 2009 Validated learning about customers Would you rather have $30,000 or $1 million in revenues for your startup? This may sound crazy, coming as it does from an advocate of c harging customers for your product from day one. They are gaining valuable customer data.

Customer 167

Customer San Francisco Lean Hockey Stick 167

Steve Blank

NOVEMBER 25, 2013

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

Oakland Incubator Lean Metrics 326

Startup Lessons Learned

SEPTEMBER 22, 2008

Lessons Learned by Eric Ries Monday, September 22, 2008 The three drivers of growth for your business model. The AARRR model (hence pirates, get it?) He also has a discussion of how your choice of business model determines which of these metric areas you want to focus on. Choose one.

San Francisco 167

San Francisco CPA SEM CTO Hire 167

Steve Blank

NOVEMBER 18, 2016

It struck me as I watched the teams try to find how their technology would solve real customer problems, is that machine learning is following a similar pattern of previous technical infrastructure innovations. Most often the first acquisitions in a hype cycle are for the “shiny objects” – the technology, the team and the tools.

Artificial Inteligence 318

Artificial Inteligence Lean Exit Strategy Startup 318

Steve Blank

JUNE 23, 2016

These resulting business models made them look incredibly profitable. They knew how to execute the current business model. ARM, a competitor, not only had a better, much lower power processor, but a better business model – they licensed their architecture to other companies that designed their own products.

Architecture 227

Architecture IRR Balance Sheet Liquidity Event 227

Startup Lessons Learned

JANUARY 10, 2011

I hear similar things for pre-revenue startups that are on schedule, on time, and on budget - even though they are busy building something that nobody wants. (In In fact, this crisis was at the heart of Steve Blank ’s original impetus to develop customer development as an alternative set of milestones to use for startups.)

Silicon Valley 167

Silicon Valley San Francisco Lean Investment Bankers 167

Steve Blank

JANUARY 8, 2019

The model described innovation occurring in three time horizons : Horizon 1 ideas provide continuous innovation to a company’s existing business model and core capabilities. Horizon 2 ideas extend a company’s existing business/model and core capabilities to new customers, markets or targets.

China 295

China Government Russia Acquisition 295

Steve Blank

FEBRUARY 22, 2010

Startups that are searching for a business model need to keep score differently than large companies that are executing a known business model. Yet most entrepreneurs and their VC’s make startups use financial models and spreadsheets that actually hinder their success. Managing the Business. Here’s why.

Balance Sheet 298

Balance Sheet Startup Burn Rate Metrics 298

Steve Blank

DECEMBER 3, 2012

Enter the Business Model Canvas. With the business model canvas in hand, we can now approach rethinking corporate innovation strategy and structure. Existing companies and their operating divisions implement known business models. Operating divisions execute the known business model.

Business Model 333

Business Model Customer Development United States Operations 333

David Teten

APRIL 1, 2021

For example, recruiting writ large is useful at all stages of development. Similarly, customer introductions are invaluable in the early days, but become less valuable once a company has a fully-formed go to market function.”. Customer Development. A well-developed model is Andreessen Horowitz’s Executive Briefing Center.

Private Equity 78

Private Equity Venture Capital Portfolio Equity 78

Steve Blank

DECEMBER 7, 2010

Business schools teach aspiring executives a variety of courses around the execution of known business models, (accounting, organizational behavior, managerial skills, marketing, operations, etc.). In contrast, startups search for a business model. (Or Their objective is to get users, orders, customers, etc.

Wiki 311

Wiki Lean Management Business Model 311

The Startup Magazine

FEBRUARY 21, 2020

It can be influenced by something seemingly small such as how information is managed by the business. In general, successful startups do three major things: They understand who their customers are, what they want and clearly define the product or service Unique Selling Point(USP). By customer development. Source: Pixabay.

Startup 113

Startup Acquisition Business Model Finance 113

Steve Blank

JULY 29, 2013

Its goal is to take the original idea and search for a repeatable and scalable business model - first by finding product/market fit, then by testing all the parts of the business model (pricing, channel, acquisition/activation, partners, costs, etc.). Filed under: Customer Development , Family/Career/Culture.

Cofounder 335

Cofounder Advisory Board Customer Development Leadership 335

View from Seed

SEPTEMBER 11, 2019

You’re obviously not showing charts of user growth, number of customers, or revenue. But even as a concept stage company there are ways to show progress with your business. For consumer companies this is usually around user acquisition, engagement, and retention. B) Post-Product Companies.

Seed Stage 149

Seed Stage B2B Seed Capital Revenue 149

Steve Blank

MARCH 4, 2014

These groups are adapting or adopting the practices of startups and accelerators – disruption and innovation rather than direct competition, customer development versus more product features, agility and speed versus lowest cost. Every large company, whether it can articulate it or not, is executing a proven business model (s).

IRR 335

IRR Startup Business Model Agile 335

Steve Blank

JUNE 7, 2019

The eight teams spoke to over 820 beneficiaries, stakeholders, requirements writers, program managers, warfighters, legal, security, customers, etc. Followed by an 8-minute slide presentation follow their customer discovery journey over the 10-weeks. All the presentations are worth a watch. Team: IntelliSense.

Oakland 266

Oakland Lean SBIR Afghanistan 266

Steve Blank

AUGUST 5, 2013

Lean Start-up Connection: Business Model Canvas. We assumed our customers would be any smart Internet users looking to make a decision—granted, an extremely broad customer segment. We guessed that these customers would find value in the ability to make quick decisions on complicated topics. Customer Development'

Lean 293

Lean Agile Customer Development SEO 293

Steve Blank

JUNE 7, 2010

The company had innovated, found a business model, grown successfully but now even as revenues continued to grow, the company was slowly but surely dying. The other founder, the business guy, managed to get its product legislated into consumer electronics devices. For me, I learned this lesson first hand. It was impressive.

Silicon Valley 267

Silicon Valley Cofounder Acquisition Kansas 267

Steve Blank

MARCH 18, 2011

VC’s worked with entrepreneurs to build profitable and scalable businesses, with increasing revenue and consistent profitability – quarter after quarter. They taught you about customers, markets and profits. Startups needed millions of dollars of funding just to get their first product out the door to customers.

Internet 334

Internet IPO Silicon Valley Agile 334

Steve Blank

MARCH 11, 2015

And when we do make bets, they’re small bets on incremental products or acquisitions that simply add to the bottom line.”. I suggested the best place to start the conversation is with the 21 st century definition of a startup: A startup is a temporary organization designed to search for a repeatable and scalable business model.

Widget 120

Widget Lean Business Model Metrics 120

Steve Blank

MARCH 11, 2010

Our goal is to teach students the key concepts of the startup process and help them understand that a startup is a search for a profitable business model. Students formed 5-person teams, came up with a business idea then got out of the building to validate their business model. What is a business model?

Intellectual Property 226

Intellectual Property Business Model Customer Development Distribution 226

ReadWriteStart

JUNE 20, 2012

In this excerpt, authors Steve Blank and Bob Dorf continue to explain the Customer Discovery Philosophy (see Part One, " Is Your Startup a Valid Vision or Just a Hallucination? "). Customer discovery turns founders’ initial hypotheses about their market and customers into facts. We call these early adopters earlyvangelists.

Customer 119

Customer Advisory Board Engineer Cofounder 119

Steve Blank

NOVEMBER 18, 2016

It struck me as I watched the teams try to find how their technology would solve real customer problems, is that machine learning is following a similar pattern of previous technical infrastructure innovations. Most often the first acquisitions in a hype cycle are for the “shiny objects” – the technology, the team and the tools.

Artificial Inteligence 120

Artificial Inteligence Lean Exit Strategy Startup 120

steveblank.com

JULY 8, 2011

signup, upgrade, trial pricing Zuora – online subscription management FeeFighters – find the cheapest credit card processors HealPay – Collections made easy Customer Support Tender – support, knowledgebase tool for your site GetSatisfaction - conversations between companies / customers.

Software Review 110

Software Review Startup Silicon Valley Analytics 110