article thumbnail

Is the Lean Startup Dead?

Steve Blank

But as Carlota Perez has so aptly described, all new technology industries go through an eruption and frenzy phase, followed by a crash, then a golden age and maturity. Then the cycle repeats with a new set of technologies. Startups with huge burn rates – building leases, staff, PR and advertising – ran out of money.

Lean 335
article thumbnail

Why Founders Should Know How to Code

Steve Blank

As the farm fields flew by on the interstate I listened as Dave described how he translated his vision into a series of hypotheses and mapped them onto a business model canvas. Speed keeps cash burn rate down while allowing you to converge on a repeatable and scalable business model. Customer Discovery.

Cofounder 336
Insiders

Sign Up for our Newsletter

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

article thumbnail

It Must Be A Marketing Problem

Steve Blank

The Customer Development process is the way startups quickly iterate and test each element of their business model , reducing customer and market risk. In Discovery startups take all their hypotheses about the business model: product, market, customers, channel, etc. Six is a Proxy for Burn Rate.

Burn Rate 248
article thumbnail

Apple Vision Pro – Tech in the Search of a Market

Steve Blank

In addition, they’ve created an entirely new $85+ billion subscription business model; the App Store, iTunes, Apple Care, Apple Pay, Apple Cash, Apple Arcade, Apple Music, Apple TV. Newer versions will ride the technology wave of lighter, and cheaper versions. The same will likely be true for the Vision Pro.

Search 256
article thumbnail

5 Things You Need to Learn Before Launching a Startup

ReadWriteStart

For instance, if you are developing a unique technology, you better patent it. Business Models and Pricing Know your business model prior to launching a startup. However, sometimes founders only think about their big idea and forget about the strictly business side of a startup.

article thumbnail

Cram Down – A Test of Character for VCs and Founders

Steve Blank

At the turn of the century after the dotcom crash, startup valuations plummeted, burn rates were unsustainable, and startups were quickly running out of cash. Most existing investors (those still in business) hoarded their money and stopped doing follow-on rounds until the rubble had cleared.

Cram Down 404
article thumbnail

Reinventing the Board Meeting – Part 1 of 2

Steve Blank

Reinventing the board meeting may offer venture-backed startups a more efficient, productive way to direct and measure their search for a profitable business model. The combination of Venture Capital and technology startups is only about 50 years old. Silicon Valley, New York). Here’s how. The Wrong Discussion s.