Steve Blank
JANUARY 22, 2014
Angels & Crowdfunding : Coincident with the capital efficient movement came the current wave of angel investors, this time armed with the ability to collectively fund startups to the point of meaningful value creation on modest amounts of capital. Valley-sized VC funds don’t work. Build $10-30M funds.
Steve Blank
NOVEMBER 5, 2009
Chasing funding versus chasing customers and a repeatable and scalable business model, is one reason startups fail. Product Development – Getting Funded as The Goal In a traditional product development model, entrepreneurs come up with an idea or concept, write a business plan and try to get funding to bring that idea to fruition.
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Steve Blank
JULY 1, 2014
Investors sitting through Incubator or Accelerator demo days have three metrics to judge fledgling startups – 1) great looking product demos, 2) compelling PowerPoint slides, and 3) a world-class team. Other than “I’ll know it when I see it”, there’s no formal way for an investor to assess project maturity or quantify risks.
Feld Thoughts
NOVEMBER 18, 2013
They decide to go out and raise money on a convertible note – several angel investors have signaled interest in participating in the note and they don’t feel ready to pitch VCs yet. Fundraising goes better than expected and they quickly find themselves with a $750k round consisting of several VCs and a bunch of angels.
Startup Lessons Learned
SEPTEMBER 15, 2008
The application of agile development methodologies which dramatically reduce waste and unlock creativity in product development. See Customer Development Engineering for my first stab at articulating the theory involved) Ferocious customer-centric rapid iteration, as exemplified by the Customer Development process.
SoCal CTO
JULY 13, 2011
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Steve Blank
JUNE 1, 2011
3) An experienced board brings an extensive network of customers, partners, help in recruiting, follow-on financing, etc. The Wrong Metrics. Traditional startup board meetings spend an insane amount of wasted time using Fortune 100 company metrics like income statements, cash flow, balance sheet, waterfall charts. Not Real-time.
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