Steve Blank

JULY 13, 2021

By the end of the 20th century, case studies and business plans had reached an evolutionary dead-end for entrepreneurs. The Rise of Business Schools – Management as an Occupation. The business school was invented in the first decade of the 20th century in response to a massive economic transformation in the U.S.

Lean 433

Lean Agile Business Model Business Plan 433

Steve Blank

JUNE 12, 2020

The eight teams spoke to over 945 beneficiaries, stakeholders, requirements writers, program managers, warfighters, legal, security, customers, etc. I observed that teaching case studies and/or how to write a business plan as a capstone entrepreneurship class didn’t match the hands-on chaos of a startup.

Oakland 301

Oakland Asia Lean Video 301

Steve Blank

OCTOBER 7, 2011

—— I was invited to Finland as part of Stanford’s Engineering Technology Venture Program partnership with Aalto University. In addition to Tekes, Vigo , the government’s attempt at funding private business accelerators, started with good intentions and got hijacked by government bureaucrats.

Finland 324

Finland Venture Capital Government Russia 324

Steve Blank

APRIL 23, 2014

Incentive programs need to tie together the new acquisition’s continued success and the rest of the company. Filed under: Big Companies versus Startups: Durant versus Sloan , Business Model versus Business Plan. Appoint a “corporate concierge” to access the acquiring company’s resources.

Acquisition 332

Acquisition Intellectual Property Silicon Valley Startup 332

Steve Blank

JUNE 19, 2014

The traditional model of how to turn scientific discovery into a business has been: 1) make a substantive discovery, 2) write a business plan/grant application, 3) raise funding, 4) execute the plan, 5) reap the financial reward. Space is limited to 25 of the best teams with NIH Phase 1 grants.

Lean 269

Lean SBIR Intellectual Property Customer Development 269

Steve Blank

OCTOBER 10, 2011

I was invited to Finland as part of Stanford’s Engineering Technology Venture Program partnership with Aalto University. Filed under: Business Model versus Business Plan , Customer Development , Teaching , Venture Capital. Thanks to Kristo Ovaska and team for the fabulous logistics!)

Finland 324

Finland Naming Russia Government 324

Steve Blank

DECEMBER 13, 2010

I’ve spent the last week in Santiago, a guest of Professor Cristóbal García at the Catholic University of Chile as part of Stanford’s Engineering Technology Venture Program. Teaching in Chile. Valaparaiso houses. Entrepreneurship and innovation in what I call “Chilecon Valley” is being talked about continually here.

Chile 235

Chile Silicon Valley Lean Agile 235

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. Class Logistics. As described in the previous post , this is a hands-on class.

Business Model 226

Business Model Silicon Valley California Engineer 226

Steve Blank

MAY 7, 2009

I hate business plan competitions. I Love Business Plan Competitions I had a breakfast with a friend who has founded a few companies in Thailand and started the New Ventures Program at one of their universities. For all the reasons why business plan competitions are wonderful for students from outside the U.S.,

Business Plan 140

Business Plan Silicon Valley RSS Venture Capital 140

Steve Blank

SEPTEMBER 5, 2018

Their idea is that consumers will want a subscription service for short form entertainment (10-minute programs) for mobile rather than full length movies. Startups wrote business plans, generated expansive 5-year forecasts and executed (hired, spent and built) to the plan. He just hired Meg Whitman.

Lean 335

Lean Burn Rate Startup IPO 335

Steve Blank

MAY 29, 2019

Steve Blank: When I first starting teaching, the capstone entrepreneurship class was how to write a business plan. But years ago, we had no alternative – how to write a business plan was it. SB: I think ethics are a critical missing component of most business curriculums.

Incubator 331

Incubator Lean Programming Government 331

Steve Blank

SEPTEMBER 23, 2014

Over the last few years it’s become clear that the days of teaching “how to write a business plan” as the cornerstone of university entrepreneurship are over. We now understand the distinction between startups – who search for a business model – versus existing companies – that execute a business plan.

Lean 284

Lean Cleveland Balance Sheet Ohio 284

Steve Blank

MARCH 5, 2015

Starting this Monday, March 9 th 4-6pm Pacific Time I’ll be on the radio hosting the Bay Area Ventures program on Sirius XM radio Channel 111 – the Wharton Business Radio Channel. Over this program I’ll be talking to entrepreneurs, financial experts and academic leaders in the tech and biotech industries.

Channel 120

Channel Venture Capital Lean Business Model 120

Steve Blank

JUNE 18, 2013

I wondered if business plans and 5-year forecasts were the right way to plan a startup. It dawned on me that the plans were a symptom of a larger problem: we were executing business plans when we should first be searching for business models. We were putting the plan before the planning.

Lean 286

Lean Agile Customer Development Business Model 286

Steve Blank

JANUARY 22, 2013

My co-author and business Partner Bob Dorf spends much of his time traveling the world teaching countries and companies how to run the Lean LaunchPad program. The program is funded by the Colombian government and modeled after the NSF Innovation-Corps program created and built by my partner and co-author Steve Blank.

Colombia 321

Colombia Lean Silicon Valley Coder 321

Steve Blank

OCTOBER 31, 2014

channel partners and Chinese manufacturers and customer acquisition and activation programs outside their home country. Filed under: Business Model versus Business Plan , Customer Development. Business Model versus Business Plan Customer Development' This meant they would need U.S.

Global 335

Global Australia Silicon Valley China 335

Steve Blank

JUNE 7, 2019

The eight teams spoke to over 820 beneficiaries, stakeholders, requirements writers, program managers, warfighters, legal, security, customers, etc. I observed that teaching case studies and/or how to write a business plan as a capstone entrepreneurship class didn’t match the hands-on chaos of a startup.

Oakland 266

Oakland Lean SBIR Afghanistan 266

Steve Blank

JUNE 4, 2012

As the morning fog burns off the California coast, I am working with Steve Blank, preparing for the Lean LaunchPad Faculty Development Program we are running this August at U.C. Alex had been recruited back by his Alma Matter to create an entrepreneurship program. Small businesses make up 99.7% We think we got it figured out.

Silicon Valley 305

Silicon Valley Lean Utah Customer Development 305

Steve Blank

JANUARY 22, 2013

My co-author and business Partner Bob Dorf spends much of his time traveling the world teaching countries and companies how to run the Lean LaunchPad program. The program is funded by the Colombian government and modeled after the NSF Innovation-Corps program created and built by my partner and co-author Steve Blank.

Colombia 271

Colombia Lean Silicon Valley Coder 271

Steve Blank

OCTOBER 13, 2016

Bad Habit #3: Insisting on untested and detailed business plans. Most established companies require detailed business plans for new ideas. Business plans actually maximize the risk of failure because of the focus on executing an unproven idea rather than testing it. Don’t ask innovators for business plans.

Non-Compete 329

Non-Compete Agile Business Model San Francisco 329

Steve Blank

MARCH 5, 2012

One of the confusing things to entrepreneurs, investors and educators is the relationship between customer development and business model design and business planning and execution. When does a new venture focus on customer development and business models ? And when do business planning and execution come into play?

Search 320

Search Business Model Customer Development Agile 320

Steve Blank

JUNE 18, 2013

I wondered if business plans and 5-year forecasts were the right way to plan a startup. It dawned on me that the plans were a symptom of a larger problem: we were executing business plans when we should first be searching for business models. We were putting the plan before the planning.

Lean 178

Lean Agile Customer Development Business Model 178

Steve Blank

JULY 28, 2011

From the point of view of scientists and engineers in a university lab, too often entrepreneurship in all its VC-driven glory – income statements, balance sheets, business plans, revenue models, 5-year forecasts, etc. Each team accepted into the program will receive $50,000. Yet this system isn’t perfect. What Took You So Long.

Engineer 278

Engineer Silicon Valley United States Intellectual Property 278

Steve Blank

JANUARY 31, 2011

12 Year Olds Writing Business Plans. In this school every seventh-grade girl becomes part of a team of four or five that create and run their own business. Either way I had an astounding evening as one of the judges at the Girls Middle School 7th grade Entrepreneurial night.

Silicon Valley 304

Silicon Valley Startup Community Business Plan 304

Steve Blank

AUGUST 31, 2009

The Focus on Execution Versus Learning and Discovery The product development model assumes that customers needs are known, the product features are known, and your business model is known. Given this certainty, it’s logical that a startup will hire a sales and marketing team to simply execute your business plan.

Customer Development 238

Customer Development Developer Customer Silicon Valley 238

Steve Blank

FEBRUARY 19, 2015

Stephen and SynbiCITE , just launched the world’s first Lean LaunchPad for Synthetic Biology program. One or two companies existed which at the time were described as startups, but in reality were government-backed small companies attempting, and ultimately failing, to execute business plans. Here’s his story.

Lean 120

Lean Startup Massachusetts Merger 120

Steve Blank

NOVEMBER 18, 2015

The program examines the DNA of entrepreneurs: what makes them tick, how they came up with their ideas; and explores the habits that make them successful, and the highs, lows and pivots that pushed them forward. Pat explained that when he was a computer salesman, he created programs that eased his work problems and challenges.

Entrepreneur 120

Entrepreneur Channel Programming Customer Development 120

Steve Blank

JULY 25, 2011

Yet when venture capital got involved they brought all the processes to administer existing companies they learned in business school – how to write a business plan, accounting, organizational behavior, managerial skills, marketing, operations, etc. Scientists and Engineers = Innovation and Entrepreneurship.

Engineer 305

Engineer Silicon Valley United States Venture Capital 305

Steve Blank

JULY 20, 2015

My guests on Bay Area Ventures on Wharton Business Radio on Sirius XM Channel 111 were: Errol Arkilic , former program director for the National Science Foundation Innovation Corps (NSF I-Corps), now founder of M34 Capital. to put together a mentorship program [for academic scientists]. Steve Weinstein , CEO of MovieLabs.

Government 120

Government Channel Southern California Lean 120

Steve Blank

OCTOBER 13, 2016

Bad Habit #3: Insisting on untested and detailed business plans. Most established companies require detailed business plans for new ideas. Business plans actually maximize the risk of failure because of the focus on executing an unproven idea rather than testing it. Don’t ask innovators for business plans.

Non-Compete 120

Non-Compete Agile Business Model San Francisco 120

Steve Blank

MARCH 7, 2012

And hats off to Kathy Eisenhardt and Tom Byers of the Stanford Technology Ventures Program who gave us the freedom to invent and teach the class. Filed under: Business Model versus Business Plan , Customer Development , Lean LaunchPad , Teaching. —– The rest of the teams present next week.

Lean 256

Lean Business Model Agile United States 256

Steve Blank

OCTOBER 7, 2019

It still seems like yesterday that Ann Miura-Ko and I were creating a new class – the Lean LaunchPad at Stanford to teach students an alternative to how to write a business plan. Hacking for Defense is now supported by the National Security Innovation Network and has put hundreds of students in 24 universities through the program.

Lean 41

Lean South America Asia Australia 41

Steve Blank

JUNE 2, 2011

Jon Feiber at MDV is going to try investing in startups emerging from Universities with great engineering schools outside of Silicon Valley that have entrepreneurship programs, but minimal venture capital infrastructure. I was surprised at the reaction – all of them want to experiment with it. Or watch the video here.

Silicon Valley 281

Silicon Valley Business Model Early Stage Venture Capital 281

Steve Blank

DECEMBER 10, 2014

In my second go-around with Steve Blank, he’s still changing the course and fortunes of startups everywhere, but perhaps more profoundly, he’s now also changing the course of universities and students everywhere as a result of a program he developed with the National Science Foundation (NSF). It’s a Capitol Idea. What’s Next? to the U.S.

Maryland 272

Maryland Lean DC Virginia 272

Steve Blank

MAY 3, 2011

Their initial customer segment were upwardly mobile professionals with $2-10K discretionary purchases/year (excluding travel,) and their revenue model was affiliate program fees. Filed under: Business Model versus Business Plan , Lean LaunchPad , Teaching.

South Dakota 217

South Dakota Business Model Lean United States 217

Steve Blank

APRIL 26, 2010

Business Plans Versus Business Models at 14:08. The 400 people who filled the conference room in San Francisco and thousands who watched it across the world shared this belief. Watch the expanded version of “ Why Accountants Don’t Run Startups below. The first story, Shifts in Entrepreneurship starts at 4:20.

San Francisco 142

San Francisco Entrepreneur Lean Startup 142

Steve Blank

FEBRUARY 12, 2015

As a founder he got the company to the Build phase because he was able to think creatively and independently since conditions on the ground changed so rapidly that the original well-thought-out business plan became irrelevant.

Startup 120

Startup Lean Venture Capital Advisory Board 120