Steve Blank

OCTOBER 10, 2011

I was invited to Finland as part of Stanford’s Engineering Technology Venture Program partnership with Aalto University. Unique to Finland with its strong cultural emphasis on equality and the redistribution of wealth is a business press that doesn’t understand startups and is overtly hostile to their success.

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Finland Naming Russia Government 324

David Teten

SEPTEMBER 6, 2018

Just as with any company, the most important issue is the team; see “ How to Negotiate a Partner Role at a Venture Capital or Private Equity Firm “ . See How Private Equity and Venture Capital Investors Are Eating Their Own Dogfood. . 3) Raise capital. 4) Originate investments. 6) Due diligence.

Technical Review 60

Technical Review Private Equity Management Cap Table 60

David Teten

SEPTEMBER 6, 2018

Just as with any company, the most important issue is the team; see “ How to Negotiate a Partner Role at a Venture Capital or Private Equity Firm “ . See How Private Equity and Venture Capital Investors Are Eating Their Own Dogfood. . 3) Raise capital. 4) Originate investments. 6) Due diligence.

Technical Review 60

Technical Review Private Equity Management Cap Table 60

David Teten

MARCH 28, 2012

Best Practices in Venture Capital Portfolio Company Value Creation. Lowering that failure rate would be highly impactful on venture capitalist returns, if we could figure out how to do it. Lowering that failure rate would be highly impactful on venture capitalist returns, if we could figure out how to do it.

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Portfolio Private Equity Venture Capital Early Stage 144

Steve Blank

APRIL 10, 2009

And he recognized it was making his startup feel and act like a big ponderous company. Most decisions in a startup must be made in the face of uncertainty. Since every situation is unique, there is no perfect solution to any engineering, customer or competitor problem, and you shouldn’t agonize over trying to find one.

Silicon Valley 300

Silicon Valley RSS Startup Agile 300

Steve Blank

JANUARY 20, 2014

When Customer Development and the Lean Startup were just a sketch on the napkin, Dino Vendetti, a VC at Bay Partners, was one of the first venture capitalists I shared my ideas with. Over the years we brainstormed about how Lean entrepreneurship would affect regional development. Startups in Bend.

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Silicon Valley Oregon Lean Venture Capital 312

Steve Blank

FEBRUARY 23, 2009

I was between my 7th and 8th and final startup; licking my wounds from Rocket Science, the company I had cratered as my first and last attempt as a startup CEO. I was consulting for the two venture capital firms who between them put $12 million into my last failed startup.

Silicon Valley 125

Silicon Valley RSS Venture Capital Customer Development 125

Steve Blank

MARCH 19, 2009

Now with a new infusion of $8 million dollars of venture capital, SuperMac had been resurrected from the dead and was attempting to restart. Steve Blanks 30 years of Silicon Valley startup advice. Yet two smart VC firms, Sigma and Matrix Partners, realized that somewhere in this mess there was value. Order Here. Now In Print!

Silicon Valley 146

Silicon Valley Software Review Technical Review RSS 146

Steve Blank

AUGUST 20, 2013

What if we could increase productivity and stave the capital flight by helping Life Sciences startups build their companies more efficiently? One would think that designing a medical device would be a simple engineering problem, and startups would be emerging right and left. Venture Capital Issues. In the U.S.

Startup 294

Startup Venture Capital Lean IPO 294

Steve Blank

JUNE 11, 2009

Posted on June 11, 2009 by steveblank When my students ask me about whether they should be a founder or cofounder of a startup I ask them to take a walk around the block and ask themselves: Are you comfortable with: Chaos – startups are disorganized Uncertainty – startups never go per plan Are you: Resilient – at times you will fail – badly.

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Cofounder Founder Silicon Valley Technical Cofounder 219

Steve Blank

NOVEMBER 5, 2009

Unfortunately in early stage startups the drive for financing hijacks the corporate DNA and becomes the raison d’etre of the company. Chasing funding versus chasing customers and a repeatable and scalable business model, is one reason startups fail.

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Customer Development Developer Customer Silicon Valley 262

Steve Blank

AUGUST 13, 2009

It took me 8 startups and 21 years to get it right, (and one can argue success was due to the Internet bubble rather then any brilliance.) No internet, no blogs, no books on startups, no entrepreneurship departments in universities, etc. It took lots of trial and error, learning by experience and resilience through multiple failures.

Silicon Valley 179

Silicon Valley RSS Technical Review Lean 179

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.

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Customer Development Developer Customer Silicon Valley 242

SoCal CTO

FEBRUARY 2, 2011

A lot of my time is spent helping early-stage companies get to proof points so that they can raise capital. They might have some seed money and are thinking or raising a Series A based on success of an early release (MVP). Bill Payne is an expert on how early-stage investors should look at valuation.

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Valuation Revenue Pre-Money Valuation Early Stage 198

Steve Blank

JULY 1, 2014

Investors sitting through Incubator or Accelerator demo days have three metrics to judge fledgling startups – 1) great looking product demos, 2) compelling PowerPoint slides, and 3) a world-class team. What’s been missing for everyone is: a common language for investors to communicate objectives to startups. Here’s John’s story.

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Sacramento Framework Customer Development Lean 306

Steve Blank

MAY 28, 2009

But then, because there might be entrenched competitors and your concept is radically new, you still need to invest in the customer development process to learn how to get design wins from companies who may be happy with their existing vendors. For example, complex new semiconductor architectures, (i.e.

Vertical 144

Vertical Silicon Valley Marketing Customer 144

Steve Blank

JUNE 2, 2011

A revolution has taken hold as customer development and agile engineering reinvent the Startup process. It’s time to ask why startup board governance has failed to keep pace with innovation. Board meetings that guide startups haven’t changed since the early 1900’s. It’s time for a change. Here’s how.

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Silicon Valley Business Model Early Stage Venture Capital 281

Steve Blank

JUNE 25, 2009

Startups and Sales If you read this post you can come away with the impression that every startup with a direct salesforce needs a consultative sales team. The answer depends on your answer to two questions: which step in the Customer Development process are you on? what Market Type is your startup?

Technology 138

Technology Silicon Valley Fractional VPE Part-Time VPE 138

Steve Blank

OCTOBER 5, 2009

I had last been in Chapel Hill on a winter’s day in 1986, traveling with the VP of Sales of our new supercomputer startup, Ardent. We were on the University of North Carolina campus to meet with Fred Brooks and Henry Fuchs. We were sitting in our cheap hotel room when the phone rang.

North Carolina 125

North Carolina Silicon Valley Fractional VPE Part-Time VPE 125

Steve Blank

JUNE 15, 2010

The role of a founding CEO in a startup searching for a business model is radically different than a CEO building and growing a company. So if you’re the founder of a startup, you may want to consider who you take money from. What startup stage do they typically invest in? Do they “get&# Customer Development ?

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Founder Vesting Later Stage Early Stage 231

Steve Blank

JUNE 1, 2011

As customer and agile development reinvent the Startup, it’s time to ask why startup board governance has not kept up with the pace of innovation. Board meetings that guide startups haven’t changed since the early 1900’s. The combination of Venture Capital and technology startups is only about 50 years old.

Silicon Valley 290

Silicon Valley Business Model Venture Capital Balance Sheet 290

Steve Blank

JUNE 1, 2011

As customer and agile development reinvent the Startup, it’s time to ask why startup board governance has not kept up with the pace of innovation. Board meetings that guide startups haven’t changed since the early 1900’s. The combination of Venture Capital and technology startups is only about 50 years old.

Silicon Valley 258

Silicon Valley Business Model Venture Capital Balance Sheet 258

Steve Blank

NOVEMBER 12, 2009

Their presentation looked like this: Market/Opportunity Lessons Learned Slide 1 Lessons Learned Slide 2 Lessons Learned Slide 3 Why We’re Here Telling the Cafepress Customer Discovery and Customer Validation story allowed Fred and Maheesh to take the VC’s on their journey year by year.

Venture Capital 209

Venture Capital Silicon Valley RSS Hockey Stick 209

Steve Blank

DECEMBER 30, 2014

The Lean Launchpad® for Life Sciences (the I-Corps @ NIH ) uses the Lean Startup Model to discover and validate the business model. understand who their core and tertiary customers are, and the sales and marketing process required for initial clinical sales and downstream commercialization.

San Diego 261

San Diego North Carolina Chicago Lean 261

Steve Blank

AUGUST 20, 2009

An existing market is one where competitors have a profitable business selling to customers who can name the market and can tell you about the features that matter to them. An Existing Market All four were trying to resegment an “Existing Market.” Me – “Have you used Company x’s product? Do you know have they distribute their product?

Silicon Valley 181

Silicon Valley Startup RSS Customer Development 181

ReadWriteStart

JUNE 15, 2011

Startups now understand what they should be doing in their early formative days is search for a business model. The process they use to guide that search is "Customer Development" ; and to track their progress startups now have a scorecard to document their week-by-week changes – the business model canvas.

Silicon Valley 118

Silicon Valley Startup Early Stage Business Model 118

Steve Blank

MAY 22, 2009

Steve Blanks 30 years of Silicon Valley startup advice. Write it down and keep it in a tradeshow handbook for those who will follow. Go to trade shows like it matters. Now In Print!

Silicon Valley 128

Silicon Valley RSS California Customer Development 128

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. Over its lifetime a Lean Startup may spend less money than a traditional startup. Lets see why.

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Lean Silicon Valley Startup RSS 244

Steve Blank

APRIL 29, 2009

I’ve paraphrased his speech into the language of a startup. Startups are inherently chaos. Every potential startup founder should think about their level of comfort operating in chaos and uncertainty. Both reminded me why National Service would be a very good idea.) It’s eerily similar. It may not be for you.

Silicon Valley 170

Silicon Valley Iraq RSS Vietnam 170

Steve Blank

AUGUST 27, 2009

Thirty years later we now realize that its one the causes of early startup failure. This series of posts is a brief explanation of how we’ve evolved from Product Development to Customer Development to the Lean Startup. It has become an integral part of startup culture.

Silicon Valley 260

Silicon Valley Product Startup Product Development 260

Steve Blank

JUNE 3, 2009

Reducing Risk – Simulation versus Customer Development If you remember the first part of this discussion, startups face two types of risk; invention risk and/or customer/market risk. In either type of startup you want to put in place processes in place to reduce risk.

Vertical 128

Vertical Silicon Valley Marketing RSS 128

This is going to be BIG.

SEPTEMBER 21, 2010

It’s the kind of thing you can repeat in an elevator, simple to understand , universally applicable , and, most importantly, doesn’t burden your tech team with a lot of custom development. If you have a startup that could use a publisher with a large local community as a partner, you have nothing to lose.

Early Stage 120

Early Stage Developer Technical Review Widget 120

www.instigatorblog.com

OCTOBER 23, 2010

Home About Contact My thoughts & lessons learned on startups, entrepreneurship, marketing and other stuff. Changing Equity Structures for Early Startup Employees Tweet Recently someone asked me for advice on how much equity they should give to their early employees. the better the startup will be.

Equity 41

Equity Employee Startup Vesting 41

Steve Blank

FEBRUARY 23, 2009

This product development diagram had become part of the DNA of Silicon Valley. This product development diagram had become part of the DNA of Silicon Valley.

Product Development 143

Product Development Developer Silicon Valley Product 143

Steve Blank

FEBRUARY 23, 2009

Joseph Campbell’s insight of the repeatable patterns in mythology is equally applicable to building a successful startup. All startups (whether a new division inside a larger corporation or in the canonical garage) follow similar patterns—a series of steps which, when followed, can eliminate a lot of the early wandering in the dark.

Silicon Valley 127

Silicon Valley RSS Venture Capital California 127

Steve Blank

FEBRUARY 23, 2009

Eighty some pages later I realized that a) I had some great war stories as a good marketeer and failed CEO, b) I’d have to pay my wife and kids to read them, c) the three of them were probably the entire total available market, and d) when I looked at what I had done and what other entrepreneurs had done at their startups, that there was a pattern.

Redemption 126

Redemption Silicon Valley RSS California 126

Steve Blank

JUNE 5, 2009

There is no certainty about a startup on day-one. You make several first order approximations about your business model, distribution channels, demand creation, and customer acceptance. At each startup I couldn’t wait to do this. No building, no money, no customers, no market? Great, sign me up.

Silicon Valley 212

Silicon Valley RSS Vertical California 212