Steve Blank

OCTOBER 31, 2014

For example, one of the critical business model hypotheses they could test locally is Product/Market fit – the connection between their Value Proposition (what product or service they were building) and the Customer Segment (who they were building it for.). They intended to get scale for their business by growing in the U.S.

Global 335

Global Australia Silicon Valley China 335

Steve Blank

MARCH 11, 2016

To be honest I built the class out of frustration watching schools teach aspiring entrepreneurs that all they need to know is how to write a business plan or how to sit in an incubator building a product. Quotes from customers that illustrated learnings and insights. Every week the teams present their results. Pivot stories.

Lean 120

Lean Incubator Business Model Channel 120

Steve Blank

JANUARY 14, 2014

A pivot can change any of nine different things in your business model. A pivot may mean you changed your customer segment, your channel, revenue model/pricing, resources, activities, costs, partners, customer acquisition – lots of other things than just the product. A Pivot is not just changing the product.

Business Model 332

Business Model Lean Customer Development Channel 332

Steve Blank

DECEMBER 7, 2010

Many entrepreneurship courses focus on teaching students “how to write a business plan.” If you’ve read any of my previous posts, you know I believe that: 1) a product is just a part of a startup, but understanding customers, channel, pricing, etc. This class is not about how to write a business plan.

Wiki 316

Wiki Lean Management Business Model 316

Steve Blank

MARCH 4, 2014

These groups are adapting or adopting the practices of startups and accelerators – disruption and innovation rather than direct competition, customer development versus more product features, agility and speed versus lowest cost. Every large company, whether it can articulate it or not, is executing a proven business model (s).

IRR 335

IRR Startup Business Model Agile 335

Steve Blank

FEBRUARY 23, 2016

As a formal method, the Lean Startup consists of three parts: The Business Model Canvas – to frame hypotheses, Customer Development – to test those hypotheses in front of customers, and Agile Engineering – to build Minimum Viable Products to maximize learning. Customer Segments is changed to Beneficiaries.

Business Model 120

Business Model Revenue Channel Community 120

Steve Blank

MARCH 11, 2010

Students formed 5-person teams, came up with a business idea then got out of the building to validate their business model. Our goal was not to teach the students to write a business plan nor were we trying to teach them how to give a pitch to VC’s. A Startup is a Search For A Business Model.

Intellectual Property 257

Intellectual Property Business Model Customer Development Distribution 257

Steve Blank

JANUARY 25, 2010

Think of a business model as a drawing that shows all the flows between the different parts of your company. A business model diagram also shows how the product gets distributed to your customers and how money flows back into your company. What’s the distribution channel. Business Plan Versus Business Model.

Agile 335

Agile Startup Silicon Valley Business Model 335

Steve Blank

MARCH 11, 2015

They’ve learned the best distribution channel to get the product from their company to the customer. The strategy and structure for 21st corporate innovation will come from emulating the speed, urgency, agility and low-cost, rapid experimentation of startups. and how to price the product. That’s now changed.

Widget 120

Widget Lean Business Model Metrics 120

Steve Blank

MAY 11, 2009

In less than a month they designed a low-cost video-capture board that plugged into the Mac and allowed you to connect a video camera and VCR. Since we had gotten out of the software business when we came out of Chapter 11 , and our sales channel didn’t know what to do with software, we licensed ReelTime to Adobe.

Video 184

Video Silicon Valley RSS California 184

Steve Blank

MARCH 25, 2011

Week 3 of the class and our teams in our Stanford Lean LaunchPad class were hard at work using Customer Development to get out of the classroom and test the first key hypotheses of their business model: The Value Proposition. and report the results of face-to-face customer discovery. This post is part three. Veritas D.C.

Cloud 237

Cloud Intellectual Property Lean Customer Development 237

Steve Blank

JUNE 8, 2009

In the last three posts, we drew the relationship of market risk and invention risk with vertical markets and pointed out verticals where customer development would be useful. In contrast to simply executing your business plan, the Customer Development process is built on low-cost and continuous learning and iterating.

Vertical 125

Vertical Silicon Valley RSS Marketing 125

Steve Blank

MARCH 15, 2011

By now the nine teams in our Stanford Lean LaunchPad Class were formed, In the four days between team formation and this class session we tasked them to: Write down their initial hypotheses for the 9 components of their company’s business model (who are the customers? what distribution channel? what’s the product?

Business Model 238

Business Model Nebraska Peru Germany 238

Steve Blank

JULY 25, 2016

Instead, he yearned to channel his creative energies. — Partner disagreements and a lack of planning killed Michael’s beach volleyball bar venture, but he doesn’t consider it a failure: It cost me about $80,000, but the way I look at that is it was tuition money. Filed under: Customer Development , SiriusXM Radio Show.

Entrepreneur 120

Entrepreneur Fort Worth America Silicon Valley 120

Steve Blank

AUGUST 27, 2009

This series of posts is a brief explanation of how we’ve evolved from Product Development to Customer Development to the Lean Startup. The Product Development Diagram Emerging early in the twentieth century, this product-centric model described a process that evolved in manufacturing industries.

Silicon Valley 269

Silicon Valley Product Startup Product Development 269

Steve Blank

MAY 3, 2011

The concept of Partners , took some explanation as some teams confused partners with the Distribution Channel.). After a week of hectic customer discovery , the team further refined their new business model. Answer: The most cost effective wavelength is 800-900nm ~ $20/watt. Costs vs. ramp vs. product iteration?

South Dakota 232

South Dakota Business Model Lean United States 232

Steve Blank

APRIL 28, 2016

The show airs on SiriusXM Channel 111 (weekly Thursdays at 1 pm Pacific, 4 pm Eastern). You’re constantly critically analyze the gaps in someone’s business plan. They’re wasting a million dollars an oil well, and they’d like to lower that direct cost. That’s how your brain’s oriented.

Entrepreneur 120

Entrepreneur Cofounder Seed Capital Texas 120

Steve Blank

APRIL 28, 2016

The show airs on SiriusXM Channel 111 (weekly Thursdays at 1 pm Pacific, 4 pm Eastern). You’re constantly critically analyze the gaps in someone’s business plan. They’re wasting a million dollars an oil well, and they’d like to lower that direct cost. That’s how your brain’s oriented.

Entrepreneur 120

Entrepreneur Cofounder Seed Capital Texas 120

Steve Blank

NOVEMBER 2, 2009

For those of you who have been following the discussion, a Lean Startup is Eric Ries ’s description of the intersection of Customer Development , Agile Development and if available, open platforms and open source. The Customer Development process (and the Lean Startup) is one way to do that.

Lean 260

Lean Silicon Valley Startup RSS 260

Startup Lessons Learned

OCTOBER 23, 2013

LSC: Tell us about the customer development you did for your book: Alistair: We''ve been thrilled at how Lean Analytics seemed to resonate with founders. As operators of an accelerator—and founders in our own right—Ben and I had constantly struggled with what the “right” numbers are for a business.

Analytics 167

Analytics Lean Widget Metrics 167

Startup Lessons Learned

JUNE 5, 2009

She has a separate team, with its own culture and office, and a mandate straight from top management to innovate without regard to the company’s historic products, channels, or supply chain. Certainly venture-backed startups don’t have this luxury – every business plan has a model in it. If it costs $0.10

San Francisco 102

San Francisco Lean Continuous Deployment Startup 102

Steve Blank

NOVEMBER 1, 2010

With an out-of-this-world business plan. When Iridium was first conceived inside Motorola in 1987, worldwide cell phone coverage was sparse, calls were unreliable and per minute costs were expensive. Cell phone handsets were the size of a lunch box and cost thousand of dollars. A Business Plan Frozen in Time.

Business Plan 335

Business Plan Customer Business Model Customer Development 335

Steve Blank

OCTOBER 11, 2016

He was also on the team that wrote the business plan for BlackGirlsCode. In 2014, Business Insider listed Dan as one of the top 46 African Americans in Tech. Filed under: Customer Development , SiriusXM Radio Show. With Freshsessions, Dan thought he was on to a great idea. Tune in Thursday, Oct.

Columbus 248

Columbus Entrepreneur Ohio Cofounder 248

Up and Running

MAY 23, 2016

Step 1: Start with a lean plan. Instead of sitting down to write a 40-page business plan, start with a one-page pitch. It’s the fastest way to get your idea onto paper, and it’s the very first step in the lean planning process, which is much easier and more iterative than traditional business planning methods.

Software Review 74

Software Review Software Delaware Forecast 74

Steve Blank

OCTOBER 11, 2016

He was also on the team that wrote the business plan for BlackGirlsCode. In 2014, Business Insider listed Dan as one of the top 46 African Americans in Tech. Filed under: Customer Development , SiriusXM Radio Show. With Freshsessions, Dan thought he was on to a great idea. Tune in Thursday, Oct.

Columbus 120

Columbus Entrepreneur Ohio Cofounder 120

Steve Blank

MAY 10, 2011

These diagrams are the visual representation of the how and the what a team learned in the class – how they tested their hypotheses by getting out of the building using the Customer Development process and what they learned about each part of their business model. is just another engineering process, not building a business.

Lean 285

Lean Business Model Agile Customer Development 285

Steve Blank

MAY 18, 2009

He welcomed us by screaming, “Do you know how much it costs every minute this line is down.&# And here’s where life gets really interesting, as the reality of product development and customer input collide, the facts change so rapidly that the original well-thought-out business plan becomes irrelevant.

Founder 310

Founder Silicon Valley RSS China 310

Startup Lessons Learned

MARCH 13, 2009

Again, its critical to focus your marketing launch on those publications, venues, and channels that your potential partners are paying attention to. Do some Customer Development instead. The problem is that customers dont read your business plan. You cant really anticipate what the customer will like or not.

San Francisco 168

San Francisco PR Lean Early Stage 168

Startup Lessons Learned

DECEMBER 14, 2009

Each of these four currencies represents a way for a customer to “pay&# for services from a company. Constructing a working business model is a form of ecosystem design. A minimum viable product in this category must answer the question: does my media content or channel command the attention of a valuable audience?

Customer 156

Customer San Francisco Viral Lean 156

Steve Blank

MARCH 26, 2019

It’s hard to imagine, but only a decade ago, the capstone entrepreneurship class in most universities was how to write – or pitch- a business plan. In my experience, I saw that most business plans don’t survive first contact with customers. As a serial entrepreneur turned educator, this didn’t make sense to me.

Lean 254

Lean Business Model Balance Sheet Video 254

maplebutter.com

JANUARY 8, 2013

Near shoring development with your team (ex: your team is based in Canada / India) is cool, but not outsourcing. Outsourcing is something a big company, with a known customer / problem (that has revenue & traction) does to save cost. I don’t have any formal business training and I actually think it’s served me well.

Technical Review 44

Technical Review Startup Cofounder Software Review 44

grasshopperherder.com

FEBRUARY 19, 2011

Q: “What will be your best channel for customer acquisition?&# Problem is the practicality, cost and hassle of the microtransaction. BTW, What do business plans look like? Sign up for Grasshopper Herder Other Subscription Options: Recent Posts Is the business plan dead? if it can be harnessed.

Cofounder 47

Cofounder NDA Founder Sweat Equity 47

Steve Blank

MAY 9, 2017

When the product and channel are bits, adoption by 10’s and 100’s of millions and even billions of users can happen in years versus decades. Continuous innovation requires the imagination and courage to challenge the initial hypotheses of your current business model (channel, cost, customers, products, supply chain, etc.)

Restful 243

Restful Silicon Valley Puerto Rico San Jose 243

Startup Lessons Learned

FEBRUARY 12, 2009

In the world of startups, this is like trying to sell a product to a very demanding customer who needs to see a lot of features before buying. Resegmented market (low cost variety). Heres a situation where you offer to do the job for 1/10th the cost. In fact, you cant go through traditional channels at all.

San Francisco 89

San Francisco Continuous Deployment Ruby Lean 89

www.vccafe.com

MARCH 11, 2013

Steve Blank on Lean Customer Development. tells you how much adwords cost. hire low-cost international engineering talent. outsourcing for small business. BPS : Business Plan Servicesâ?? s leading practice that is dedicated to providing full assistance with business planning. SW Courses.

Software Review 53

Software Review Technical Review Startup 53