Remove Business Model Remove Customer Development Remove Management Remove Sales Cycle
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Why Real Learning is Outside the Building, Not Demo Day

Steve Blank

Over the last three years our Lean LaunchPad / NSF Innovation Corps classes have been teaching hundreds of entrepreneurial teams a year how to build their startups by getting out of the building and testing their hypotheses behind their business model. Filed under: Customer Development , Lean LaunchPad , Teaching.

Lean 320
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Entrepreneurs are Everywhere Show No. 39: Jeremy Johnson and Michael Eidsaune

Steve Blank

But to do it, you need to actually have a sustainable business model. Starting a business is too risky. Prior to founding Carely , Michael Eidsaune earned his MBA in finance and spent several years in investment management, eventually earning his level 1 CFA certification. Our revenue model was wrong.

Cofounder 145
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Entrepreneurs are Everywhere Show No. 39: Jeremy Johnson and Michael Eidsaune

Steve Blank

But to do it, you need to actually have a sustainable business model. Starting a business is too risky. Prior to founding Carely , Michael Eidsaune earned his MBA in finance and spent several years in investment management, eventually earning his level 1 CFA certification. Our revenue model was wrong.

Cofounder 120
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Lessons Learned: Validated learning about customers

Startup Lessons Learned

What matters is proving the viability of the company’s business model, what investors call “traction.&# Of course this is not at all true of many profitable small businesses, but they are not what I mean by startups.) They are gaining valuable customer data. They are closing orders. What’s the problem?

Customer 167