Steve Blank

APRIL 23, 2018

A version of this article appeared in the Harvard Business Review. The entrepreneur who founded and grew the largest startup in the world to $10 billion in revenue and got fired is someone you have probably never heard of. billion in sales in today’s dollars). What Does GM Have to Do with Tesla And Elon Musk?

Michigan 296

Michigan Cofounder Stock Forecast 296

Startup Professionals Musings

JANUARY 12, 2018

The problem is that professional investors (angels and venture capital) want a proven business model before they invest, ready to scale, rather than early projections and product development. Exchanging your services for services is possible with legal counsel, accountants, engineers, and even sales people.

Intellectual Property 134

Intellectual Property Technical Review Startup Incubator 134

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. When I was a software development manager, I tried to get a “bottoms up” time estimate from the team, and then pad it by 50%.

Software Developers 229

Software Developers Software Development Business Model Product Development 229

Steve Blank

NOVEMBER 13, 2012

After many sales calls, early prospects showed little rush to buy it! By then, I had become a venture capitalist at Mitsui Sumitomo Insurance and found myself talking to a lot of entrepreneurs who were proclaiming their great technology yet were struggling with little revenue, and claiming they were “crossing the chasm”.

Japan 302

Japan Customer Development Developer Customer 302

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. When I was a software development manager, I tried to get a “bottoms up” time estimate from the team, and then pad it by 50%.

Startup 245

Startup Software Developers Software Development Business Model 245

Gust

APRIL 27, 2014

Think about the implications of each to your own business, and the potential impact of getting them done incorrectly, or forgetting to do them entirely: Manage your financials and physical assets. Use a simple accounting tool like QuickBooks, get away from co-mingled funds, and you have the first business process you need.

Startup 187

Startup Institutional Investors Angel Investor Bootstrapping 187

Steve Blank

MARCH 3, 2015

As I looked around at other schools, I saw pretty much the same landscape – business plan classes, business plan competitions and loosely coupled accelerators that focused primarily on mentoring. There had been tectonic shifts in the startup world, but our business school curriculum had barely moved. And there it was.

Business Plan 120

Business Plan Silicon Valley Saudi Arabia Lean 120

ConversionXL

SEPTEMBER 6, 2013

By the end of this article, you should have a better understanding of how to develop new products or tweak your existing offerings by working with existing or prospective customers to incorporate their feedback to create viable solutions to their problems, and clearly communicate their value. So What is Customer Development?

Customer Development 126

Customer Development Conversion Developer Customer 126

Duct Tape Marketing

APRIL 6, 2022

Founders Space was ranked the #1 incubator for overseas startups by Forbes and Entrepreneur Magazines. Steve is also the author of Surviving a Startup: Practical Strategies for Starting a Business, Overcoming Obstacles, and Coming Out on Top. But I, what I wanna do in the a book is tell entrepreneurs, you can't just dive into it.

San Francisco 95

San Francisco Technical Review Incubator Silicon Valley 95

crowdSPRING Blog

MAY 9, 2023

Online businesses have also massively grown in popularity over the last few years. In 2022 alone, e-commerce sales reached 5.2 So, if you’ve been delaying starting a lucrative online business, now is the time to begin exploring and grinding. Email Address Why Dropshipping is a good business model Low startup costs.

Business Model 121

Business Model Stock Cost Email 121

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. When I was a software development manager, I tried to get a “bottoms up” time estimate from the team, and then pad it by 50%. Marty Zwilling.

Software Developers 122

Software Developers Software Development Business Model Design 122

Steve Blank

MARCH 16, 2016

But startups require money upfront for product development and later to scale. For the first few years, your VCs want you to keep your head down, build the product, find product/market fit and ship to get to some inflection point (revenue, users, etc.). Step 4: Generate the business case for the potential acquirer.

Liquidity Event 120

Liquidity Event Founder Liquidation Preference Private Equity 120

Startup Professionals Musings

JANUARY 12, 2013

Many entrepreneurs I know don’t realize that the language they learned in the corporate world, or even their recent MBA class, won’t get them ahead in the startup world today. As a reality check, try this quick test of your entrepreneur savvy. As a reality check, try this quick test of your entrepreneur savvy. Super-angels.

Entrepreneur 274

Entrepreneur Accredited Investor Silicon Valley Angel Investor 274

Steve Blank

JUNE 25, 2009

Twenty eight years ago I was the bright, young, eager product marketing manager called out to the field to support sales by explaining the technical details of Convergent Technologies products to potential customers. So their management teams were insisting that they OEM (buy from someone else) these products.

Technology 143

Technology Silicon Valley Fractional VPE Part-Time VPE 143

Hearpreneur

SEPTEMBER 5, 2021

It impacts the pace at which businesses grow and it remains interesting to see trends that will emerge from some of these technologies. We asked entrepreneurs and business owners about the technologies that will have the biggest impact on technology and here are the responses. #1 1 – The Ethics of Digital Privacy.

Artificial Inteligence 108

Artificial Inteligence Technology Entrepreneur Cloud 108

Steve Blank

SEPTEMBER 24, 2009

Pattern Recognition One of the great things about being an entrepreneur is that you are constantly running a pattern recognition algorithm against a continual collection of customer and market data. But at times it’s why entrepreneurs can sink their own companies. More on this in later posts.)

Customer 216

Customer Silicon Valley RSS California 216

Startup Lessons Learned

FEBRUARY 7, 2013

Last May, I shared the news that long-time Lean Startup advocates Brant Cooper and Patrick Vlaskovits were working on a new book called The Lean Entrepreneur featuring illustrations by FAKEGRIMLOCK. The Embrace infant warmer was developed - by getting out of the country -- and how Rob Emrich learned and scaled his non-profit, Road of Life.

Lean 167

Lean Entrepreneur Agile San Francisco 167

David Teten

AUGUST 19, 2019

I’ve been a traditional equity VC for 8 years, and I’m now researching new business models in venture capital. In addition, I’ve noted a few multi-product lending firms, e.g., Kapitus and United Capital Source , which provide RBI as one of many structural options to companies seeking capital. . Alternative Capital. “

Revenue 60

Revenue Technical Review Software Review Equity 60

Women Entrepreneurs Can

NOVEMBER 19, 2022

These firms can provide various services, including financing and business advice. They can also help you develop your product and sales channels. VC funding is best suited for businesses with high growth potential. They also look for a robust business model and product/market fit. Seed Rounds.

Venture Capital 52

Venture Capital Early Stage Liquidity Event SEC 52

K9 Ventures

AUGUST 13, 2010

So the departments either didn’t have the capacity to pay or it would be an endless sales-cycle, where we would spend lots of time on the sales, but it still wouldn’t close. In the end the revenue simply wasn’t enough to make a sustainable business and so we had to switch gears once more (in today’s parlance that would be a “Pivot”).

Revenue 72

Revenue Developer Java Customer Development 72

Startup Lessons Learned

APRIL 14, 2009

This may sound crazy, coming as it does from an advocate of c harging customers for your product from day one. I have counseled innumerable entrepreneurs to change their focus to revenue, and many companies who refuse this advice get themselves into trouble by running out of iterations. And yet revenue alone is not a sufficient goal.

Customer 167

Customer San Francisco Lean Hockey Stick 167

Startup Professionals Musings

MAY 4, 2014

Think about the implications of each to your own business, and the potential impact of getting them done incorrectly, or forgetting to do them entirely: Manage your financials and physical assets. Use a simple accounting tool like QuickBooks, get away from co-mingled funds, and you have the first business process you need.

Startup 268

Startup Institutional Investors Angel Investor Bootstrapping 268

Up and Running

JULY 24, 2015

This list is broken into categories and is meant to be a one-stop-shop for aspiring entrepreneurs. Business planning. To start your business, you’ll need a sound business plan. But here at Bplans, we make an effort to provide entrepreneurs with the resources they need to start and run successful businesses.

Entrepreneur 60

Entrepreneur Small Business Administration SBA Pennsylvania 60

The Startup Magazine

JANUARY 20, 2019

Plus, you can get further knowledge from this site on how you can improve your franchised business by using different sales and marketing strategies. Food businesses will always be profitable because people need to eat. Food businesses will always be profitable because people need to eat. Spa and Beauty Franchises.

Green 81

Green Social Media Advertising Cost 81

Spencer Fry

MAY 2, 2014

Anyone who works in product development will know that ten months is an eternity. Unfortunately, it’s just the nature of product development — and especially so when you’re working with part-time people —that deadlines are missed and work takes much longer than you expected. I’m glad I held out, though. I love SaaS.

Bootstrapping 57

Bootstrapping Revenue Product Development Forecast 57

Austin Startup

AUGUST 20, 2017

Of all your hires, if you have commissioned sales people, those will give you the most problems if they’re not all given an equal chance to make their quotas and achieve their personal earnings goals. Keep a close eye on your competitors but also on your peer entrepreneurs in your town; they provide the context relevant to you.

Technical Review 48

Technical Review Software Review Cap Table Securities and Exchange Commission 48

Steve Blank

SEPTEMBER 17, 2009

This post describes a solution – the Customer Development Model. 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.

Customer Development 253

Customer Development Developer Customer Silicon Valley 253

Startup Professionals Musings

JANUARY 31, 2013

Think about the implications of each to your own business, and the potential impact of getting them done incorrectly, or forgetting to do them entirely: Manage your financials and physical assets. Use a simple accounting tool like QuickBooks, get away from co-mingled funds, and you have the first business process you need.

Institutional Investors 230

Institutional Investors Angel Investor Bootstrapping Database 230

Up and Running

FEBRUARY 10, 2021

Having a business plan shows that you’ve done the homework of thinking through how your business will work and what goals you’re trying to achieve. A business plan provides the structure for thinking through these things and documents your answers so you’re prepared for the inevitable questions investors will ask about your business.

Business Plan 138

Business Plan Forecast Balance Sheet Exit Strategy 138

Startup Professionals Musings

SEPTEMBER 7, 2011

Think about the implications of each to your own business, and the potential impact of getting them done incorrectly, or forgetting to do them entirely: Manage your financials and physical assets. Use a simple accounting tool like QuickBooks, get away from co-mingled funds, and you have the first business process you need.

Startup 255

Startup Institutional Investors Angel Investor Bootstrapping 255

Up and Running

FEBRUARY 12, 2022

Entrepreneurs are always thinking about the future. Successful entrepreneurs do actually predict the future — they know what customers are going to want and when they’re going to want it. Successful entrepreneurs do actually predict the future — they know what customers are going to want and when they’re going to want it.

Business Plan 83

Business Plan Lean Forecast Exit Strategy 83

The Startup Magazine

JULY 16, 2018

FUND is a national connector of entrepreneurs, VCs, angel investors, and industry experts with a focus on deal flow and making connections. When we began this journey we anticipated that it would take more than one product to satisfy the market age range of 3 to 10 years old. Why do you do what you do? CEO Name : Angela Smith.

Startup 85

Startup Texas Angel Investor Mobile 85

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. LetsGiftIt.

Dilution 114

Dilution Revenue Finance Entrepreneur 114

Startup Professionals Musings

AUGUST 1, 2010

Think about the implications of each to your own business, and the potential impact of getting them done incorrectly, or forgetting to do them entirely: Manage your financials and physical assets. Use a simple accounting tool like QuickBooks, get away from co-mingled funds, and you have the first business process you need.

Startup 239

Startup Institutional Investors Angel Investor Bootstrapping 239

Startup Lessons Learned

JULY 29, 2009

Startups especially can benefit by using technical debt to experiment, invest in process, and increase their product development leverage. The biggest source of waste in new product development is building something that nobody wants. Leverage product development with open source and third parties.

Technical Review 168

Technical Review Software Review San Francisco Lean 168

Seeing Both Sides

NOVEMBER 26, 2012

In other words, being able to efficiently access the capital markets is as core to business-building as product management, go to market and your profit formula. For example, I have huge respect and passion for product development and the role of the product manager. But that's not entirely true.

Balance Sheet 42

Balance Sheet Entrepreneur Dilution Portfolio 42

infochachkie.com

SEPTEMBER 24, 2011

Hands-on startup advice for emerging entrepreneurs. There is an inherent conflict in a consultant’s business model and the needs of a startup. If a consultant claims they can enhance your marketing efforts, pay them based on their direct impact on your incremental sales. infoChachkie. Thanks for visiting! Pyramid Power.

Equity 40

Equity Silicon Valley Cofounder PR 40