Startup Professionals Musings

AUGUST 4, 2013

Many entrepreneurs work hard on the proof of concept (technical), but skip any proof of the business model (revenue flow). In other words, once they are convinced that the product works, they assume their price, sales channel, and marketing will bring in the customers. So how do you go about proving the business model?

Business Model 235

Business Model Product Advisory Board Angel Investor 235

YoungUpstarts

OCTOBER 22, 2012

by Bill Lee, author of “ The Hidden Wealth of Customers: Realizing the Untapped Value of Your Most Important Asset “ Harnessing the power of references and referrals seems like an obvious win. What could make more sense than to leverage the enthusiasm of happy customers to convince buyers that they need your products and services?

Programming 145

Programming Customer Social Media Advisory Board 145

Startup Professionals Musings

JUNE 30, 2012

Many entrepreneurs work hard on the proof of concept (technical), but skip any proof of the business model (revenue flow). In other words, once they are convinced that the product works, they assume their price, sales channel, and marketing will bring in the customers. So how do you go about proving the business model?

Business Model 248

Business Model Advisory Board Entrepreneur Angel Investor 248

The Startup Magazine

OCTOBER 25, 2017

They identify and support high impact startups that need access to customers, mentors, training, and capital. Endeavor Miami is also uniquely challenged in that Miami is a leading startup creator yet falls behind in their scaled business growth. They must scale their businesses. But not every startup has exponential scalability.

Miami 61

Miami Technical Review Software Review Artificial Inteligence 61

Startup Professionals Musings

MAY 22, 2010

Don’t expect them to believe your $100M revenue projection, if you are still waiting for the first revenue dollar. A great business often starts with one person, but it doesn’t end there. Build qualified advisory board. Get a real customer and real revenue. Only real results count.

Intellectual Property 222

Intellectual Property Sweat Equity CTO Hire Fractional CTO 222

Startup Professionals Musings

APRIL 15, 2011

Many entrepreneurs work hard on the proof of concept (technical), but skip any proof of the business model (revenue flow). In other words, once they are convinced that the product works, they assume their price, sales channel, and marketing will bring in the customers. So how do you go about proving the business model?

Business Model 234

Business Model Advisory Board Startup Angel Investor 234

Steve Blank

MAY 19, 2015

But over time code/hardware written/built to validate hypotheses and find early customers can become unwieldy, difficult to maintain and incapable of scaling. to drive traffic to their site, which they then turned into ad revenue. Does customer communication need to change ? Is that feasible?

Technical Review 120

Technical Review Salary Early Stage Software Review 120

Startup Professionals Musings

APRIL 5, 2010

Many entrepreneurs work hard on the proof of concept (technical), but skip any proof of the business model (revenue flow). In other words, once they are convinced that the product works, they assume their price, sales channel, and marketing will bring in the customers. So how do you go about proving the business model?

Business Model 120

Business Model Advisory Board Angel Investor Channel 120

Austin Startup

MAY 29, 2019

Yesterday I was having a discussion with one of our executives on the strength of network effects inherent in the data.world business model. This led to a far ranging strategic discussion that got us both really excited about the huge potential of our business. check out The Entrepreneur’s Essentials #1 on that front).

Networking 48

Networking Fractional CTO CTO Hire B2C 48

Startup Professionals Musings

JUNE 22, 2016

According to most experts , business traction is evidence that somebody really wants your product. It’s business momentum, independent of whether you have a product delivered, proven the business model, or significantly penetrated the opportunity. Build an inside advisory board of influencers and experts.

Metrics 143

Metrics Advisory Board Startup Lean 143

Up and Running

AUGUST 30, 2017

You want to review all the different components of your business model. This description should basically be an elevator pitch for potential partners and business investors to get excited about what you’re offering and your unique location, philosophy, and approach. What is your business model? How will you grow?

Business Plan 93

Business Plan SBA Software Review Advisory Board 93

The Startup Magazine

MAY 28, 2019

Embargo is the brainchild of co-founders; Tsewang Wangkang, Nik von Solodkoff and Frederick Szydlowski which created quite a trio linking their finance, hospitality and IT background to solve a problem all three had experienced themselves – the huge disconnect between customers and venues in the bar, restaurant and coffee shop scene.

Advisory Board 90

Advisory Board Angel Investor Startup Cofounder 90

Steve Blank

AUGUST 27, 2012

It was great to watch him embrace the spirit and practice of customer development. He was constantly in front of customers, listening, selling, installing and learning. It seemed like once a week Yuri would come back from a customer meeting brimming with new insights. And that’s where the problem was. A Pivot a Week.

Founder 316

Founder Cofounder Advisory Board Burn Rate 316

YoungUpstarts

JUNE 7, 2017

In creating a successful business, it is important that you assess your business idea in terms of its ability to make money. Business model viability, along with the capabilities of you and your team, are the key considerations for prospective investors in your company. Is the customer desperate to solve this problem?

Advisory Board 138

Advisory Board Revenue Vertical Business Model 138

Steve Blank

FEBRUARY 7, 2013

The class was designed to teach educators (and the adjunct entrepreneurs that support them) the Lean LaunchPad approach (Business Model Design, Customer Development and Agile Engineering) for teaching entrepreneurship. Steve said that if this was my goal, then indeed, the Customer Discovery approach is best.

Delaware 297

Delaware Lean Entrepreneur Advisory Board 297

Startup Professionals Musings

AUGUST 13, 2012

Terms like “every customer needs this” and “next generation platform” are far too soft, and should be avoided. This is not the place for a detailed product specification, but an explanation of how and why it works, including a customer-centric quantification of the benefits. Explain the business model.

Business Plan 283

Business Plan Sweat Equity Exit Strategy Intellectual Property 283

Startup Professionals Musings

FEBRUARY 13, 2016

Just because your technology is exciting and potentially disruptive doesn’t mean you are ready to build a business. Investors want to hear about customers with money who have a painful problem that you can solve now. How does your business model make money? What are your forecasts for revenue, expenses and cash flow?

Sweat Equity 120

Sweat Equity Advisory Board Liquidity Event Startup 120

Startup Professionals Musings

MAY 13, 2011

Terms like “every customer needs this” and “next generation platform” are far too soft, and should be avoided. This is not the place for a detailed product specification, but an explanation of how and why it works, including a customer-centric quantification of the benefits. Explain the business model.

Business Plan 290

Business Plan Sweat Equity Exit Strategy Intellectual Property 290

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

JUNE 15, 2010

The role of a founding CEO in a startup searching for a business model is radically different than a CEO building and growing a company. Do they “get&# Customer Development ? These VC’s are skilled in helping you search for the business model. Your potential business model? Lean Startups

Founder 231

Founder Vesting Later Stage Early Stage 231

Steve Blank

FEBRUARY 7, 2013

The class was designed to teach educators (and the adjunct entrepreneurs that support them) the Lean LaunchPad approach (Business Model Design, Customer Development and Agile Engineering) for teaching entrepreneurship. Steve said that if this was my goal, then indeed, the Customer Discovery approach is best.

Delaware 189

Delaware Lean Entrepreneur Advisory Board 189

The Startup Magazine

JUNE 19, 2018

We enjoy visionary leadership, dedicated engineers working on their life ambitions, exceptional operational leadership, the A list of advisory board members, highly skilled assembly technicians, and energetic marketing and product team members. We have been revenue positive since day one. What is your secret sauce? Our people!

Texas 73

Texas Advisory Board Startup Angel Investor 73

Steve Blank

FEBRUARY 12, 2015

We’re at 70 people, and we’ll do $40 million in revenue this year and should get to cash flow breakeven this quarter. ” In this first step, the goal of a startup is to search for a repeatable and scalable business model. It sounded like he was living the dream. I was trying to figure out why we were meeting.

Startup 120

Startup Lean Venture Capital Advisory Board 120

Gust

AUGUST 5, 2012

Terms like “every customer needs this” and “next generation platform” are far too soft, and should be avoided. This is not the place for a detailed product specification, but an explanation of how and why it works, including a customer-centric quantification of the benefits. Explain the business model.

Business Plan 182

Business Plan Sweat Equity Exit Strategy Intellectual Property 182

Startup Professionals Musings

APRIL 22, 2010

Terms like “every customer needs this” and “next generation platform” are far too soft, and should be avoided. This is not the place for a detailed product specification, but an explanation of how and why it works, including a customer-centric quantification of the benefits. Explain the business model.

Business Plan 186

Business Plan Exit Strategy Sweat Equity Intellectual Property 186

Hearpreneur

OCTOBER 20, 2019

Often entrepreneurs and business owners create their daily, weekly, quartely or yearly goals around their business. It could be more revenue, hiring clients or launching a new product or service, where setting goals presents a fresh opportunity to achieve different objectives. not mine as hairy and big as they may be.

Papua New Guinea 64

Papua New Guinea Hawaii Advisory Board Churn Rate 64

Duct Tape Marketing

NOVEMBER 11, 2021

14:43] Getting your best customers who already evangelize your business even more engaged. [16:25] 16:25] Having special, exclusive offers for your best customers. So one of the real keys is that you stay top of mind by having some things that come into the home or come into the business on a regular basis.

Affiliate 96

Affiliate Advisory Board Networking Programming 96

betashop.com

OCTOBER 8, 2012

But, you can iterate and iterate on features, but you cannot iterate your way to a business model. I’ve seen too many businesses get stuck or fail because of their endless pursuit for the magic new feature that is going to help them gain traction. It’s not about you, it’s about your customers. Provide feedback.

Technical Review 108

Technical Review Technology Software Review Valuation 108

Steve Blank

JUNE 22, 2009

Army Signal Corps advisory board, and the Army was going to acquire their first computer for research. We Changed Our Mind In 1966, 10 years after Hewlett’s memo, Hewlett Packard’s revenue and headcount had grown ten fold; $200 million and 11,000 employees – all from test and measurement equipment.

Silicon Valley 164

Silicon Valley RSS California Agile 164