article thumbnail

9 Success Principles To Propel Your Next New Venture

Startup Professionals Musings

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. Minimize permanent hiring and customized operational facilities. Every new business has unexpected pivots and adjustments, and outsourcing is easier to manage.

Merger 386
article thumbnail

5 Startup Cost Realities Most Founders Underestimate

Startup Professionals Musings

Now, with powerful high-level tools and open source software, winning smartphone apps can be built by a good hacker for a few thousand dollars. Unfortunately, even today, building a good product doesn’t guarantee you a business. Unanticipated pivots, quality write-offs, and shrinkage.

Cost 264
Insiders

Sign Up for our Newsletter

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

article thumbnail

I-Corps @ NIH – Pivoting the Curriculum

Steve Blank

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. Lessons Learned.

article thumbnail

The Best Ways to Save Money as a New Startup

ReadWriteStart

Oftentimes, new startups are inclined to cut costs that seem superfluous or unnecessary for the core business model to function. But when you cut something that is essential in business — it is problematic; digital marketing is the best way for a startup to increase brand awareness and attract new paying customers.

Startup 106
article thumbnail

30 Entrepreneurs Reveal Their Favorite Disruptors

Hearpreneur

Wikipedia isn’t the most reliable source in the world, but it’s good enough to get a brief overview. Moreover, I like inspiring myself with interesting online business models and Wikipedia is a great example of a user-generated content-based website. It led the way to a new kind of business model and changed the game.

article thumbnail

Entrepreneurship as a Science – The Business Model/Customer Development Stack

Steve Blank

At the same time every computer company was writing its own operating system. Soon standard operating systems (e.g. In the last decade open source software (e.g It’s the combination of Business Model Design and Customer Development. Business Model Design. Business Model Canvas.

article thumbnail

Lean Innovation Management – Making Corporate Innovation Work

Steve Blank

The first, the notion of the “ ambidextrous organization ” from O’Reilly and Tushman , posits that companies that want to do continuous innovation need to execute their core business model while innovating in parallel. Horizon 1 activities support existing business models. Horizon 1 is the company’s core business.

Lean 120