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

Steve Blank

APRIL 26, 2022

Most existing investors (those still in business) hoarded their money and stopped doing follow-on rounds until the rubble had cleared. Except, that is, for the bottom feeders of the Venture Capital business – investors who “ cram down ” their companies. ” On one hand they’re right.

Cram Down 404

Cram Down Founder Venture Capital Recapitalization 404

Steve Blank

FEBRUARY 11, 2010

The Customer Development process is the way startups quickly iterate and test each element of their business model , reducing customer and market risk. In Discovery startups take all their hypotheses about the business model: product, market, customers, channel, etc. Filed under: Customer Development , Venture Capital.

Burn Rate 248

Burn Rate Silicon Valley Marketing Boston 248

Steve Blank

MARCH 5, 2024

It makes me wonder – are startups still founded by people with a passion for creating something new?

Vietnam 179

Vietnam Venture Capital Business Model Engineer 179

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. The Business Plan ?- Business Plan vs. Business Model + Customer Development.

Business Model 263

Business Model Customer Development Utah Business Plan 263

Steve Blank

OCTOBER 10, 2011

The country needs to figure out a long term privatization strategy for Venture investing. Filed under: Business Model versus Business Plan , Customer Development , Teaching , Venture Capital. Finnish culture makes risk-taking and sharing hard.

Finland 324

Finland Naming Russia Government 324

Steve Blank

SEPTEMBER 1, 2021

Try innovating inside a large company where 99% of the company is executing the current business model, while you’re trying to figure out and build what comes next. And they also recognize that simply exploiting their existing assets, capabilities, and business models is insufficient for long-term survival.

Incubator 402

Incubator Lean Agile Business Model 402

Steve Blank

MAY 17, 2010

At best I think business plan competitions are a waste of time. Business Plan Versus Business Models. Where did the idea that startups write business plans come from? A simple way to think about it is that in a startup no business plan survives first contact with customers. What did you build/do?

Business Plan 312

Business Plan Business Model Customer Development Deal Flow 312

Steve Blank

MARCH 16, 2016

Founders can now access the largest pool of risk capital that ever existed –in the form of Private Equity (Angel Investors, family offices , Venture Capitalists (VC’s) and Hedge Funds.). At its core Venture Capital is nothing more than a small portion of the Private Equity financial asset class. FDA approvals?

Liquidity Event 120

Liquidity Event Founder Liquidation Preference Venture Capital 120

Steve Blank

DECEMBER 20, 2011

We taught them the business model / customer development / agile development solution stack. First, we brought all 21 teams to Stanford for 3-days of 10 hour-a-day classes in business model design and customer development. The class textbooks were “ The Four Steps to the Epiphany and Business Model Generation.”).

Incubator 301

Incubator Government Silicon Valley Lean 301

Steve Blank

MAY 6, 2013

Filed under: Big Companies versus Startups: Durant versus Sloan , Business Model versus Business Plan , Customer Development , Customer Development Manifesto , Lean LaunchPad , Teaching , Venture Capital.

Lean 330

Lean Venture Capital Customer Development Startup 330

Steve Blank

APRIL 14, 2013

business models. business models. Filed under: China , Customer Development , Technology , Venture Capital. China Customer Development Technology Venture Capital' This left an open playing field for Chinese software startups as they “copy to China” existing U.S. It usually doesn’t end well.

China 323

China Silicon Valley Non-Compete Intellectual Property 323

Steve Blank

SEPTEMBER 14, 2009

Over the same 30 years, Venture Capital firms have honed their skills and strategies to match Wall Streets needs to achieve liquidity for their portfolio companies. One of the biggest mistakes entrepreneurs make is misunderstanding the role of venture capital investors. What Do VC’s Do?

Silicon Valley 217

Silicon Valley IPO Technical Review Venture Capital 217

Steve Blank

MARCH 31, 2014

As the venture capital business has come roaring back in the last 5 years, startups are awash in available capital. The first will be commodity businesses that are valued for their ability to execute their current business model. First the markets favor capital efficiency over R&D.

Private Equity 325

Private Equity Metrics China Intellectual Property 325

Steve Blank

NOVEMBER 13, 2012

The book has been shepherded and edited by a great Japanese VC at Mitsui Sumitomo Insurance Venture Capital, Takashi Tsutsumi, with help from Masato Iino. Some have actually established new startups with tested business model hypotheses under their belt. ————-.

Japan 292

Japan Customer Development Developer Customer 292

Steve Blank

MAY 6, 2013

Filed under: Big Companies versus Startups: Durant versus Sloan , Business Model versus Business Plan , Customer Development , Customer Development Manifesto , Lean LaunchPad , Teaching , Venture Capital.

Lean 222

Lean Venture Capital Customer Development Startup 222

Steve Blank

NOVEMBER 16, 2009

Eric Ries in Times Square For any model to be useful it has to predict what happens in the real world – including the web. I realized the Customer Development model needs to be clearer in what exactly a startup is supposed to do, regardless of the business model. “What is the “Business Model” of your startup?&#

Customer Development 219

Customer Development Web Developer Customer 219

Steve Blank

MARCH 29, 2010

The key things I want students to take from the class are: Understand that a startup is a temporary organization designed to search for a profitable business model. Learn how to put together a business model , not a business plan. After Stanford, Ann joined Mike Maples’ Venture Capital firm Floodgate as a partner.

Business Model 226

Business Model Silicon Valley California Engineer 226

Steve Blank

APRIL 14, 2013

business models. business models. Filed under: China , Customer Development , Technology , Venture Capital. China Customer Development Technology Venture Capital' This left an open playing field for Chinese software startups as they “copy to China” existing U.S. It usually doesn’t end well.

China 215

China Silicon Valley Non-Compete Intellectual Property 215

Steve Blank

NOVEMBER 8, 2013

The Petal Diagram drives your business model canvas. ” That’s handy if you’re using a Lean Startup methodology because the Petal Chart helps you identify your first potential customer segments on the business model canvas. Filed under: Customer Development , Teaching , Venture Capital.

Venture Capital 335

Venture Capital Customer Development Business Model Lean 335

Steve Blank

MARCH 5, 2015

On our first show, Monday March 9 th 4-6pm Pacific Time join me, as I chat with Alexander Osterwalder – inventor of the Business Model Canvas , and Oren Jacob, ex-CTO of Pixar and now CEO of ToyTalk on Sirius XM Radio Channel 111. Alex Osterwalder – Business Models. Oren Jacob – CEO ToyTalk.

Channel 120

Channel Venture Capital Lean Business Model 120

Steve Blank

JULY 25, 2011

While this signaled that investments in technology companies could be very lucrative, both Shockley and Fairchild could only be funded through corporate partners – there was no venture capital industry. government backed venture firms and limited partnerships. A wave of innovation was about to meet a pile of risk capital.

Engineer 305

Engineer Silicon Valley United States Venture Capital 305

Steve Blank

JUNE 1, 2011

Reinventing the board meeting may offer venture-backed startups a more efficient, productive way to direct and measure their search for a profitable business model. The combination of Venture Capital and technology startups is only about 50 years old. The Wrong Discussion s. What do those numbers/metrics look like?

Silicon Valley 290

Silicon Valley Business Model Venture Capital Balance Sheet 290

Steve Blank

MARCH 17, 2020

But next the question is, ‘What happens to my business?”. The questions every startup or small business CEO needs to ask now are: What’s my Burn Rate and Runway? What does your new business model look like? What does my business model look like now? One of the key elements of survival is access to capital.

Burn Rate 436

Burn Rate Startup Valuation Sales Cycle 436

Steve Blank

JANUARY 20, 2014

Before moving to Bend last year, my career took me from engineering development roles at defense contractors in the 80’s to product management and executive marketing roles in companies like Qualcomm in the 90’s, to the world of venture capital at several firms including Bay Partners, Formative Ventures and Vulcan Ventures.

Silicon Valley 312

Silicon Valley Oregon Lean Venture Capital 312

Steve Blank

JUNE 2, 2011

Reinventing the board meeting may allow venture-backed startups a more efficient, productive way to direct and measure their search for a profitable business model. Startups now understand what they should be doing in their early formative days is search for a business model. for a business model.

Silicon Valley 281

Silicon Valley Business Model Early Stage Venture Capital 281

Steve Blank

JUNE 1, 2011

Reinventing the board meeting may offer venture-backed startups a more efficient, productive way to direct and measure their search for a profitable business model. The combination of Venture Capital and technology startups is only about 50 years old. The Wrong Discussion s. What do those numbers/metrics look like?

Silicon Valley 258

Silicon Valley Business Model Venture Capital Balance Sheet 258

Steve Blank

JULY 1, 2014

a language corporate innovation groups can use to communicate to business units and finance. Teams can prove their competence and validate their ideas by showing investors evidence that there’s a repeatable and scalable business model. Filed under: Customer Development Manifesto , Investment Readiness Level , Venture Capital.

Sacramento 306

Sacramento Framework Customer Development Lean 306

Steve Blank

APRIL 10, 2009

Reply Why Startups are Agile and Opportunistic -- Pivoting the Business Model , on April 14, 2010 at 6:32 am Said: [.] to see if they need to make a Pivot to find a better model. The search for a profitable and scalable business model might require a startup [.]

Silicon Valley 300

Silicon Valley RSS Startup Agile 300

Steve Blank

DECEMBER 3, 2012

Enter the Business Model Canvas. With the business model canvas in hand, we can now approach rethinking corporate innovation strategy and structure. Existing companies and their operating divisions implement known business models. Operating divisions execute the known business model.

Business Model 333

Business Model Customer Development United States Operations 333

Steve Blank

AUGUST 20, 2013

Business Model Issues. Venture Capital Issues. Early stage Venture Capital for medical device startups has dried up. The amount of capital being invested in new device companies is at an 11 year low. Business Model Issues. Venture Capital.

Startup 294

Startup Venture Capital Lean IPO 294

Steve Blank

JUNE 23, 2016

These resulting business models made them look incredibly profitable. They knew how to execute the current business model. ARM, a competitor, not only had a better, much lower power processor, but a better business model – they licensed their architecture to other companies that designed their own products.

Architecture 227

Architecture IRR Balance Sheet Liquidity Event 227

Steve Blank

APRIL 11, 2018

Companies: In the 20 th century when companies competed with peers with the same business model, they wanted employees to help them execute current business models (whether it was working on an assembly line or writing code supporting or extending current products). The Economic Environment.

Entrepreneur 336

Entrepreneur Business Model Capital Gains Aggregator 336

Steve Blank

AUGUST 5, 2010

Consumer Internet investing seems to have split off from traditional Venture Capital, and is creating a new category of VC’s: Lean VC’s. Electron-based Venture Capital. When I first came to Silicon Valley the world of Venture Capital looked pretty simple. Their capital needs are low at the front end.

Lean 258

Lean Internet Silicon Valley Venture Capital 258

Steve Blank

JULY 15, 2010

If you take funding from a venture capital firm or angel investor and want to build a large, enduring company (rather than sell it to the highest bidder), this isn’t the decade to do it. The collapse of the IPO market and dysfunctional math in the venture capital community has stacked the odds against you. Here’s why.

Venture Capital 297

Venture Capital IPO Liquidity Event Entrepreneur 297

Steve Blank

JANUARY 4, 2010

Lets take venture capital and grow this thing into a real business.”. They used Customer and Agile development to search for a scalable and repeatable business model to become a large company. Typically the size of their opportunity and company doesn’t lend itself to attracting venture capital.

Hockey Stick 276

Hockey Stick Venture Capital Startup Cofounder 276

Steve Blank

JULY 19, 2010

And that they’ll emerge from this fog of war with a scalable business model. Most founding CEO’s don’t know that they’re cannon fodder in the search for a business model. It’s About Finding the Business Model. If you don’t find this business model there is no company.

Vesting 251

Vesting Liquidity Event Venture Capital Founder Vesting 251