Steve Blank

SEPTEMBER 5, 2018

Reading the NY Times article “ Jeffrey Katzenberg Raises $1 Billion for Short-Form Video Venture, ” I realized it was time for a new startup heuristic: the amount of customer discovery and product-market fit you need to find is inversely proportional to the amount and availability of risk capital. ” Fire, Ready, Aim.

Lean 335

Lean Burn Rate Startup IPO 335

The Startup Magazine

JUNE 17, 2021

Accomplished entrepreneurs often pride themselves on being able to spot a gap in the market from a mile away. Suppose you happen to be the owner of an online business and would like to nurture your entrepreneurial skillset. This is partly down to the great number of resources that institutes of higher learning will often possess.

Analytics 173

Analytics Technical Review Social Media Software Review 173

Up and Running

FEBRUARY 10, 2021

A key to making this entire process much easier is to invest a little time and write a business plan. It’s true — not all investors will ask to see your business plan. Why do investors want to see a business plan? The business plan document itself isn’t what’s important to investors.

Business Plan 138

Business Plan Forecast Balance Sheet Exit Strategy 138

Steve Blank

MAY 6, 2015

Waterfall Development. While it sounds simple , the Build Measure Learn approach to product development is a radical improvement over the traditional Waterfall model used throughout the 20 th century to build and ship products. activities necessary to implement the business model. Testing Hypotheses.

Lean 120

Lean Agile Business Model Customer Development 120

Startup Professionals Musings

OCTOBER 2, 2023

Angel investors and venture capitalists are looking for startups with real products and a proven business model, ready to scale. Yet I still get too many business plans that clearly are looking for money to do research and development (R&D) on a new and unproven technology. Business commercialization.

Angel Investor 256

Angel Investor Early Stage Incubator Government 256

Steve Blank

AUGUST 31, 2009

After 20 years of working in startups, I decided to take a step back and look at the product development model I had been following and see why it usually failed to provide useful guidance in activities outside the building – sales, marketing and business development. Product Development Diagram 1.

Customer Development 238

Customer Development Developer Customer Silicon Valley 238

Steve Blank

NOVEMBER 1, 2010

With an out-of-this-world business plan. When it was spun out as a a separate company, Iridium’s 1990 business plan had assumptions about potential customers, their problems and the product needed to solve that problem. A Business Plan Frozen in Time. It is death in a rapidly changing business.

Business Plan 335

Business Plan Customer Business Model Customer Development 335

Startup Professionals Musings

JULY 1, 2013

Starting a business is a lot like starting a marriage. Product development is stuck at that 90% mark, a key person leaves, and customers are talking but not buying. The press is focused on things that exist, rather than your early marketing hype. But all too soon, reality sets in. Investment partners are squeezing you.

Founder 250

Founder Startup Software Developers Software Development 250

Startup Professionals Musings

APRIL 13, 2015

Angel investors and venture capitalists are looking for startups with real products and a proven business model, ready to scale. Yet I still get too many business plans that clearly are looking for money to do research and development (R&D) on a new and unproven technology. Business commercialization.

Product Development 120

Product Development Developer Product Angel Investor 120

Steve Blank

MAY 9, 2017

I’ve seen the Valley grow from Sunnyvale to Santa Clara to today where it stretches from San Jose to South of Market in San Francisco. And to today, when its major product is simply innovation. The second thing that’s changed is that we’re now Compressing the Product Development Cycle. The founders.

Restful 222

Restful Silicon Valley Puerto Rico San Jose 222

Up and Running

FEBRUARY 12, 2022

Learn why the traditional way of writing a five-year business plan is often a waste of time and how to use a Lean Plan instead for smarter, easier strategic planning to establish your long-term vision. But, that doesn’t mean that you shouldn’t plan for the long term. What is a long-term plan?

Business Plan 83

Business Plan Lean Forecast Exit Strategy 83

Startup Professionals Musings

MAY 24, 2012

Starting a business is a lot like starting a marriage. Product development is stuck at that 90% mark, a key person leaves, and customers are talking but not buying. The press is focused on things that exist, rather than your early marketing hype. But all too soon, reality sets in. Investment partners are squeezing you.

Software Developers 229

Software Developers Software Development Business Model Product Development 229

Startup Professionals Musings

JANUARY 18, 2021

Angel investors and venture capitalists are looking for startups with real products and a proven business model, ready to scale. Yet I still get too many business plans that clearly are looking for money to do research and development (R&D) on a new and unproven technology. Business commercialization.

Early Stage 412

Early Stage Angel Investor Incubator Government 412

Gust

APRIL 27, 2014

Develop your business plan. Write down the key elements of your business plan very early, and keep it current as things evolve. Product development process.

Startup 187

Startup Institutional Investors Angel Investor Bootstrapping 187

Up and Running

OCTOBER 8, 2015

But, we neglected to do our homework and really understand the market that we were heading into. We ended up with a product that was searching for a market instead of first spending the time to figure out who our ideal customer was and building a product specifically for them. We neglected to do our market research.

Marketing 60

Marketing Forecast CTO Hire Finder 60

Startup Professionals Musings

MARCH 6, 2011

Starting a business is a lot like starting a marriage. Product development is stuck at that 90% mark, a key person leaves, and customers are talking but not buying. The press is focused on things that exist, rather than your early marketing hype. But all too soon, reality sets in. Investment partners are squeezing you.

Startup 245

Startup Software Developers Software Development Business Model 245

Startup Professionals Musings

APRIL 3, 2016

In that spirit, I offer my perspective on ten common startup failure sources that rarely get admitted by entrepreneurs: Choose to skip the written business plan. A business plan is for you first, not investors. Viral marketing costs real money, and your support staff and hosting systems cost even more.

Intellectual Property 120

Intellectual Property Startup Angel Investor Viral 120

Steve Blank

MARCH 15, 2011

By now the nine teams in our Stanford Lean LaunchPad Class were formed, In the four days between team formation and this class session we tasked them to: Write down their initial hypotheses for the 9 components of their company’s business model (who are the customers? what’s the product? what distribution channel?

Business Model 236

Business Model Nebraska Peru Germany 236

Startup Professionals Musings

APRIL 7, 2023

They are willing to cover marketing, inventory and scaling, but not product development. An example might be 50 percent for marketing, 30 percent for inventory and 20 percent for staffing. These days, even viral marketing requires real money, for events and promotions. Make your focus and priorities clear.

Elevator Pitch 228

Elevator Pitch Salary Angel Investor Viral 228

Startup Professionals Musings

APRIL 1, 2015

In that spirit, I offer my perspective on ten common startup failure sources that rarely get admitted by entrepreneurs: Choose to skip the written business plan. A business plan is for you first, not investors. Viral marketing costs real money, and your support staff and hosting systems cost even more.

Intellectual Property 120

Intellectual Property Angel Investor Viral Distribution 120

Steve Blank

NOVEMBER 5, 2009

Chasing funding versus chasing customers and a repeatable and scalable business model, is one reason startups fail. Entrepreneurs put together their funding presentation by extracting the key ideas from their business plan, putting them on PowerPoint/Keynote and pitching the company – until they get funded or exhausted.

Customer Development 262

Customer Development Developer Customer Silicon Valley 262

Startup Professionals Musings

JULY 12, 2020

They are willing to cover marketing, inventory and scaling, but not product development. An example might be 50 percent for marketing, 30 percent for inventory and 20 percent for staffing. These days, even viral marketing requires real money, for events and promotions. Make your focus and priorities clear.

Elevator Pitch 336

Elevator Pitch Salary Angel Investor Viral 336

Duct Tape Marketing

APRIL 6, 2022

Practical Strategies For Starting A Business written by John Jantsch read more at Duct Tape Marketing. Marketing Podcast with Steve Hoffman. In this episode of the Duct Tape Marketing Podcast , I interview Steve Hoffman, also known as Captain Hoff. More About Duct Tape Marketing Consultant Network: Learn more here.

San Francisco 97

San Francisco Technical Review Incubator Silicon Valley 97

Steve Blank

MARCH 4, 2014

The Enterprise: Business Model Execution We know that a startup is a temporary organization designed to search for a repeatable and scalable business model. The corollary for an enterprise is: A company is a permanent organization designed to execute a repeatable and scalable business model. Strategy Maps.

IRR 335

IRR Startup Business Model Agile 335

Steve Blank

MAY 14, 2012

Any dispassionate observer would recognize that on Day One, a start-up has no customers, and unless the founder is a true domain expert, he or she can only guess about the customer, problem, and business model. Traditionally, engineering, sales, and marketing have all focused on the immovable launch date.

Balance Sheet 335

Balance Sheet Business Model Customer Development Metrics 335

Startup Professionals Musings

MARCH 11, 2010

Starting a business is a lot like starting a marriage. Product development is stuck at that 90% mark, a key person leaves, and customers are talking but not buying. The press is focused on things that exist, rather than your early marketing hype. But all too soon, reality sets in. Investment partners are squeezing you.

Software Developers 122

Software Developers Software Development Business Model Design 122

Steve Blank

NOVEMBER 18, 2010

The revenue numbers and revenue model came from a startups original Business Plan. 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. Ritualized Crises.

Burn Rate 247

Burn Rate Management Business Model Customer Development 247

Steve Blank

MARCH 11, 2015

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. Startups have finite time and resources to find product/market fit before they run out of money.

Widget 120

Widget Lean Business Model Metrics 120

Up and Running

MAY 23, 2016

Step 1: Start with a lean plan. Instead of sitting down to write a 40-page business plan, start with a one-page pitch. It’s the fastest way to get your idea onto paper, and it’s the very first step in the lean planning process, which is much easier and more iterative than traditional business planning methods.

Software Review 74

Software Review Software Delaware Forecast 74

Women Entrepreneurs Can

NOVEMBER 19, 2022

They also look for a robust business model and product/market fit. To secure funding, a startup must have a viable business plan and a functioning business model. In addition, a startup needs to demonstrate product-market fit. Seed Rounds. Management Company.

Venture Capital 52

Venture Capital Early Stage Liquidity Event SEC 52

The Next Web

AUGUST 26, 2012

Obviously when you have found the traction you are looking for within a specific customer segment or market you can either deepen or broaden the offering. For many start-ups, the central focus is developing a product that offers value to a target audience. Develop a strong backbone. Listen to the right data.

Bankruptcy 121

Bankruptcy Technical Review Intellectual Property Due Diligence 121

Startup Professionals Musings

MAY 4, 2014

Develop your business plan. Write down the key elements of your business plan very early, and keep it current as things evolve. Product development process.

Startup 268

Startup Institutional Investors Angel Investor Bootstrapping 268

Startup Professionals Musings

MAY 31, 2014

They are willing to cover marketing, inventory and scaling, but not product development. An example might be 50 percent for marketing, 30 percent for inventory and 20 percent for staffing. These days, even viral marketing requires real money, for events and promotions. Make your focus and priorities clear.

Elevator Pitch 285

Elevator Pitch Salary Angel Investor Viral 285

Startup Professionals Musings

AUGUST 5, 2018

They are willing to cover marketing, inventory and scaling, but not product development. An example might be 50 percent for marketing, 30 percent for inventory and 20 percent for staffing. These days, even viral marketing requires real money, for events and promotions. Make your focus and priorities clear.

Elevator Pitch 139

Elevator Pitch Salary Angel Investor Viral 139

Up and Running

JULY 2, 2014

Picking the right attorney in your startup is as important as picking the right business partner. You can’t underestimate the importance of selecting an attorney who “gets” your business model, your market opportunity, and most importantly, your fundraising and exit strategy. The deal we made with him was he’d get 33.3%

Technical Review 118

Technical Review Angel Investor Due Diligence Dilution 118

Steve Blank

JUNE 8, 2009

In the last three posts, we drew the relationship of market risk and invention risk with vertical markets and pointed out verticals where customer development would be useful. In contrast to simply executing your business plan, the Customer Development process is built on low-cost and continuous learning and iterating.

Vertical 122

Vertical Silicon Valley RSS Marketing 122

Startup Professionals Musings

JANUARY 12, 2013

See how many you have personally experienced already, or are currently mentioned in your business plan: Crowd-sourcing equity. Minimum Viable Product (MVP). It suggests the minimum features to allow the product to be deployed and get feedback, and no more. Osmosis marketing. Social mobile web. Gamification.

Entrepreneur 274

Entrepreneur Accredited Investor Silicon Valley Angel Investor 274