Steve Blank

NOVEMBER 18, 2010

A business plan has a set of assumptions (who’s the customer, what’s the price, what’s the channel, what are the product features that matter, etc.) that make up a business model. Yet by first customer ship most of the business model hasn’t been validated or tested. Pivots By Firing Executives.

Burn Rate 248

Burn Rate Management Business Model Customer Development 248

Up and Running

SEPTEMBER 17, 2014

ROI per Marketing Channel. It’s crucial to keep a handle of ROI per marketing channel in order to optimize marketing spending. After all, a sustainable business model requires repeat customers! I believe all entrepreneurs should know their business. No Specific Metric.

Metrics 146

Metrics Burn Rate Entrepreneur Forecast 146

Steve Blank

AUGUST 27, 2012

Tossing their agile development process and at times their entire business model in the air, the company would go into fire-drill mode and engineering would start working on whatever his latest insight was. ” “A pivot is a substantive change to one or more of components to your business model.

Founder 317

Founder Cofounder Advisory Board Burn Rate 317

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 300

Balance Sheet Startup Burn Rate Metrics 300

Startup Professionals Musings

AUGUST 7, 2015

Here are the motivation elements that investors expect to hear: Size and growth potential of the market opportunity. Your customers don’t care if you are targeting a billion-dollar market and growing at double-digit rates, but investors will skip small or shrinking opportunities. First to market” is not sustainable by a startup.

Product 120

Product Intellectual Property Liquidity Event Burn Rate 120

YoungUpstarts

JANUARY 11, 2018

By saturating one market or sub-market at a time, we started building the best marketing channel there is: word of mouth (WOM). Typically, marketing dollars are spent in two ways: on awareness building (letting people know your product exists) and conversion (getting them to buy it).

Los Angeles 133

Los Angeles Investment Bankers Cofounder Viral 133

Startup Lessons Learned

MARCH 13, 2009

Announce a new product, start its PR campaign, and engage in buzz marketing activities. Marketing launch) Make a new product available to customers in the general public. This is the usual reason given for a marketing launch, but for most early stage startups, its a failure. You have to know your business model.

San Francisco 168

San Francisco PR Lean Early Stage 168

ReadWriteStart

JANUARY 27, 2011

This partnership speaks to a core philosophy of the program where we encourage entrepreneurs to get as much customer validation as possible before raising too much money, use other people's channels if you can get to them, don't burn too much cash, and all that good fiscal conservative stuff. Note, I said, validated. Safarclick.

Dilution 114

Dilution Revenue Finance Entrepreneur 114

Steve Blank

SEPTEMBER 17, 2009

In future posts I’ll describe how Eric Ries and the Lean Startup concept provide the equivalent model for product development activities inside the building and neatly integrates customer and agile development. The difference is that the ones that succeed invent a Customer Development model.

Customer Development 246

Customer Development Developer Customer Silicon Valley 246

pandodaily.com

JULY 18, 2012

But it’s possible that as the secret sauce of new media swings farther from disruptive technology and business models to a focus on curated and quality content, it’s the older entrepreneurs who are in the pole position. I have enough sense at 46 to have 2 business partners that are in their 60s and one of them is our CEO.

Entrepreneur 45

Entrepreneur San Francisco Silicon Valley Technical Review 45