Steve Blank

APRIL 12, 2010

The Search for the Business Model. A startup is an organization formed to search for a repeatable and scalable business model. Investors bet on a startup CEO to find the repeatable and scalable business model. They may draw their business model formally or they may keep the pieces in their head.

Business Model 332

Business Model Agile Customer Development Startup 332

Steve Blank

APRIL 21, 2011

This week they were testing their hypotheses about the sales “Channel” – how a company delivers its value proposition (i.e. There are two major channels: physical channels and virtual (web/mobile) channels. Virtual channels include Dedicated e-commerce, Two-step e-distribution and Aggregators. All that we expected.

Channel 215

Channel Artificial Inteligence San Francisco Business Model 215

Startup Professionals Musings

FEBRUARY 14, 2022

Nail the business model. Leverage your customer conversations to predict and validate your business model. For example, when you think about distribution channels, revenue streams, or the relationship with the customer, ask customers what they expect.

Angel Investor 359

Angel Investor Technical Review Incubator Business Model 359

Hearpreneur

OCTOBER 13, 2023

A well-constructed business model is a foundational element of a business plan and strategy. Business models can vary significantly across industries and businesses, reflecting each enterprise's unique characteristics and goals. Thanks to Jordan Adair, ShirtMax ! #2- Thanks to Rodney Warner, Connective ! #3-

Business Model 131

Business Model Affiliate Jordan B2C 131

Startup Professionals Musings

OCTOBER 11, 2023

Don’t hesitate to look for new business partners who can mitigate your constraints, including distributors, new channels, or even competitors with complementary products. Adopt alternative business models to address challenges. This also applies to key customers as well as strategic partners.

Technical Review 277

Technical Review Partner Matching Channel 277

Startup Professionals Musings

OCTOBER 30, 2020

Products that can be easily produced and sold via multiple channels, including the Internet, are more easily scaled world-wide. Minimize one-time sales in your business model. You need a stable customer base with an automatically renewing revenue stream, such as the subscription model.

Merger 386

Merger Acquisition Software Review Social Media 386

Startup Professionals Musings

JUNE 12, 2022

Having only a large capital base and distribution channels, with no innovation, is not a sustainable business model. Non-industrial large organizations cling to outdated business models. Many countries have learned to make products cheaper and better. Competitive advantages are rapidly vaporizing on these.

Artificial Inteligence 315

Artificial Inteligence Offshore Merger Technical Review 315

Steve Blank

JUNE 27, 2017

Initially, a startup has no business model and no market share to defend. If they select a business model that targets industry incumbents, they don’t have to worry about upsetting existing customers, partners or distribution channels. Its employees and investors don’t depend on an existing revenue stream.

Startup 275

Startup New York City Valuation Distribution 275

Startup Professionals Musings

FEBRUARY 12, 2023

Even non-profits need a profitable business model to offset staff and operating costs. Assume passion level defines business opportunity. Entrepreneurs need to spend time working on the business, as well as in the business. Usually it pays to work in an industry for a while, before you try to fix it.

Intellectual Property 312

Intellectual Property Startup Angel Investor Viral 312

Steve Blank

JUNE 26, 2014

We’re changing the order in which we teach the business model canvas and customer development to better-fit therapeutics, diagnostics and medical devices. The Lean LaunchPad class uses the three “ Lean Startup ” principles: Alexander Osterwalders “ business model canvas ” to frame hypotheses.

Intellectual Property 281

Intellectual Property Lean IP Open Source 281

Startup Professionals Musings

APRIL 14, 2021

They depend on their favorite social channels and peers on social media to make emotional decisions for them, rather than rely on any kind of “cost-benefit” analysis. I see this even extending into business-to-business. The objective of every business must be to do both for all to win.

Customer 432

Customer Social Media Dividend Technical Review 432

The Startup Magazine

OCTOBER 4, 2023

Insights from market research enable you to spot both strengths and weaknesses in your planned business model – helping you steer clear of pitfalls while maximizing opportunities. Developing a Business Plan The findings from your market research should form the backbone of your comprehensive business plan.

Balance Sheet 108

Balance Sheet Technical Review Business Model Business Plan 108

Startup Professionals Musings

FEBRUARY 8, 2023

Now is the time to reach out to satisfied existing customers for repeat business, as it is less expensive to generate more revenue from your past customers than it is to land new ones. I recommend using digital channels, including email and social media, personalized, if possible, with promotions.

Technical Review 239

Technical Review Revenue Social Media Cost 239

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

Startup Professionals Musings

MAY 17, 2020

Even non-profits need a profitable business model to offset staff and operating costs. Assume passion level defines business opportunity. Entrepreneurs need to spend time working on the business, as well as in the business. Usually it pays to work in an industry for a while, before you try to fix it.

Intellectual Property 436

Intellectual Property Angel Investor Viral Distribution 436

Startup Professionals Musings

MAY 15, 2019

Nail the business model. Leverage your customer conversations to predict and validate your business model. For example, when you think about distribution channels, revenue streams, or the relationship with the customer, ask customers what they expect.

Startup 245

Startup Angel Investor Technical Review Incubator 245

Startup Professionals Musings

JULY 9, 2017

An effective tool I see used more and more, as a prelude to a more detailed business plan, is the Business Model Canvas , first introduced by Alexander Osterwalder back in 2008. In my experience as a new business advisor, a business is nothing until people are aligned and work in sync. Key activities. Key partners.

Business Model 143

Business Model Intellectual Property Startup Angel Investor 143

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 Channel 248

The Startup Magazine

AUGUST 11, 2023

One needs to evaluate their go-to-market strategy, distribution channels, scalability, execution team, and so on at this time. During the pre-seed fundraising stage, investors need a viable business plan to base their investments on. This is partly because information beyond the founding team and a pitch deck are scarce.

Seed Stage 126

Seed Stage Technical Review Early Stage Due Diligence 126

ReadWriteStart

SEPTEMBER 9, 2022

Finally, promote your online store through social media and other marketing channels. Understanding The Business Model of a B2B Marketplace. A business model describes how your company makes money and is essential to developing an effective business plan. Monetization Strategies.

B2B 131

B2B Developer Business Model Technical Review 131

View from Seed

JUNE 23, 2022

Upon leaving the Air Force, I went to business school and then landed a job at YouTube where I helped up-and-coming creators grow on the platform. It was during that time, I created my own YouTube channel to understand the struggles creators faced. RH: Close your eyes and imagine where your business will be in five years.

DC 156

DC Cambodia eCommerce Social Media 156

Steve Blank

SEPTEMBER 16, 2014

Surprisingly if you’ve filled out the business model canvas you already know who you need. She started by sketching her business model canvas on a napkin, but somehow the conversation quickly shifted to what was really on her mind. ——-. I told Radhika this is a perennial question for startups.

Cofounder 335

Cofounder Founder Intellectual Property Business Model 335

Steve Blank

SEPTEMBER 5, 2018

These bubble startups were actually guessing at their business model and did premature and aggressive hype and early company launches and had extremely high burn rates – all predicated on an IPO to raise more cash. Companies struggle to compete while reconfiguring legacy distribution channels, pricing models and supply chains.

Lean 335

Lean Burn Rate Startup IPO 335

Steve Blank

APRIL 23, 2014

Most large companies manage three types of innovation: process innovation (making existing products incrementally better), continuous innovation (building on the strength of the company’s current business model but creating new elements) and disruptive innovation (creating products or services that did not exist before.).

Acquisition 332

Acquisition Intellectual Property Silicon Valley Startup 332

ReadWriteStart

JULY 26, 2022

Obtaining a competitive advantage while improving consistency and quality ensures that the supply chain will soon embrace flexible business models and become more efficient. Each of these conditions then helps these companies find new and better clients while filling each business’s unique needs. Conclusion.

Germany 175

Germany San Jose Technical Review India 175

The Startup Magazine

DECEMBER 21, 2022

The internet is a great tool for business, transforming how companies interact with their customers and providing new channels to sell products, provide services, and make money. Unfortunately, the internet is also great for criminals looking to exploit businesses for their own gain. Date of birth. Physical address.

Software Review 148

Software Review Customer Technical Review Due Diligence 148

The Startup Magazine

JANUARY 9, 2020

Doesn’t it seem to you that all the benefits of this business model are too good to be true? If you’re considering it for your business, check some of the most wide-spread pitfalls, as you should be ready to face some of them when delegating your activities abroad. #1 1 Failing to choose a proper business model.

Offshore 82

Offshore Software Developers Software Development Software Review 82

ReadWriteStart

JUNE 19, 2021

Also, it can open up numerous business models and revenue channels that were earlier inaccessible for want of a suitable hardware and software solution. IoT will also enable businesses to get a fresh pair of eyes to look into data to derive insightful business insights. .

Technical Review 215

Technical Review Software Review Cloud Vertical 215

Startup Professionals Musings

JANUARY 13, 2014

The real milestone, proving the business model, is that first product sold for full price to a total stranger, leaving him happy. Many of the Internet business plans I see these days say the service is free, and revenue will come later from a huge user base. You need a sales channel that works, and one you can afford.

Business Model 248

Business Model Sales Customer Distribution 248

The Startup Magazine

FEBRUARY 27, 2024

Take advantage of various channels, including email, social media, and newsletters to stay connected with your customers. Failure to Adapt Businesses that fail to adapt to changing market trends, customer preferences, and technological advancements risk obsolescence.

Customer 90

Customer Retention Technical Review Social Media 90

Steve Blank

SEPTEMBER 22, 2011

As part of our Lean LaunchPad classes at Stanford, Berkeley, Columbia and for the National Science Foundation, students build a startup in 8 weeks using Business Model Design + Customer Development. Read Business Model Generation pages 1-72, and The Four Steps to the Epiphany Chapter 3. Step 1: Set Up Team Logistics.

Lean 333

Lean Web Coder Business Model 333

Up and Running

AUGUST 6, 2021

Older people cling to the notion of listening to their elders and getting advice through traditional channels. They’re accessible via more channels. Small businesses that choose to target younger people can choose from a range of viable digital channels for their promotional efforts.

Small Business 149

Small Business Customer Social Media Channel 149

Steve Blank

OCTOBER 30, 2012

The class teaches founders how to dramatically reduce their failure rate through the combination of business model design, customer development and agile development using the Startup Owners Manual. When you leave the class, you’ll know how to think about your startup in the now standard “language” of the business model canvas.

Startup 335

Startup Lean Incubator Business Model 335

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 Channel 234

Startup Professionals Musings

OCTOBER 17, 2018

This can happen through early marketing, independent of whether you have yet delivered a single product, proven your business model, or have any real customers. Show validation data for business model key elements. Another term often mentioned is “momentum,” or growing visibility and advocacy within your customer set.

Advisory Board 199

Advisory Board Technical Review Metrics Business Model 199

Steve Blank

FEBRUARY 16, 2012

Alexander Osterwalder and I spent last week in Salt Lake City, Utah as judges at the 2 nd Annual International Business Model Competition , hosted by Professor Nathan Furr , and his team at the BYU Center for Entrepreneurship. In an existing corporation, the business plan is the execution document for sustaining innovation.

Business Model 263

Business Model Customer Development Utah Business Plan 263

Steve Blank

NOVEMBER 11, 2013

This post is an update of what we learned about life science distribution channels. Life Science/Health Care distribution channels differ by Category. It turns out that for commercialization, the business model (Customers, Channel, Revenue Model, etc.) Channel Cost = $350-400,000 per sales team.

Distribution 224

Distribution Channel Lean Intellectual Property 224