VC Cafe

JULY 26, 2020

“After the crash, venture capital was scarce to non-existent. Ditch the business plan and when assumptions are proven wrong, pivot Customer Development: Build a product your customers want (vs. Most of the funds that started in the late part of the boom would be underwater).

Lean 214

Lean Seed Capital Startup Burn Rate 214

Steve Blank

OCTOBER 7, 2011

Startup Accelerators: Startup Sauna and Vigo which includes Lifeline Ventures , KoppiCatch , and Veturi. Venture Capital: FVCA , NextIt Ventures , Primus Ventures , Open Ocean Capital , Connor VC , and Inventure. 9-to-5 Venture Capital. Startup Blog: Arctic Startup.

Finland 324

Finland Venture Capital Government Russia 324

Steve Blank

NOVEMBER 24, 2010

the wave of semiconductor startups in the 1960’s/70’s, the emergence of venture capital as a professional industry, the personal computer revolution in 1980’s, the rise of the Internet in the 1990’s and finally. Startups traditionally required millions of dollars of funding just to get their first product to customers.

Silicon Valley 335

Silicon Valley United States Venture Capital Software Review 335

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. The first step of Customer Development is called Customer Discovery. outside the building and test them in front of customers.

Burn Rate 248

Burn Rate Silicon Valley Marketing Boston 248

Steve Blank

APRIL 11, 2013

They provide consulting, promotion, product testing, hiring, training and incubation services to startups. Part 3, the next post describes the rise of Chinese venture capital. Torch has four major parts: Clusters, Business Incubators, Seed Funding, and Funds to support Venture Capital firms. Lessons Learned.

Programming 170

Programming Technical Review SBIR China 170

Steve Blank

MAY 9, 2017

the wave of semiconductor startups in the 1960’s/70’s, the emergence of Venture Capital as a professional industry, the personal computer revolution in 1980’s, the rise of the Internet in the 1990’s and finally. Startups traditionally required millions of dollars of funding just to get their first product to customers.

Restful 222

Restful Silicon Valley Puerto Rico San Jose 222

Both Sides of the Table

NOVEMBER 3, 2009

This is part of my ongoing series of posts and I need to file this one under both Raising Venture Capital and Startup Advice. That died with waterfall software development. I’m not even talking about your 12-page Powerpoint presentation that you need to raise venture capital or to talk with potential biz dev partners.

Business Plan 334

Business Plan AJAX Venture Capital Technical Review 334

Steve Blank

OCTOBER 10, 2011

They’ve stopped hiring the best talent, and startups are not looking so risky compared to large companies. 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.

Finland 324

Finland Naming Russia Government 324

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 244

Lean Silicon Valley Startup RSS 244

Steve Blank

JANUARY 25, 2011

He hired an operating exec as the CEO a few years ago. With a few more questions I learned that the code base, which had now grown large, still had vestiges of the original exploratory code written back in the early days when the company was in the discovery phase of Customer Development.

Part-Time VPE 318

Part-Time VPE Agile Engineer Startup 318

Steve Blank

APRIL 14, 2013

The large players like Alibaba, Baidu and Tencent historically would be more likely to simply copy a startup’s features than to hire their talent. Filed under: China , Customer Development , Technology , Venture Capital. China Customer Development Technology Venture Capital'

China 323

China Silicon Valley Non-Compete Intellectual Property 323

Steve Blank

SEPTEMBER 3, 2009

This post describes how the traditional product development model distorts startup sales, marketing and business development. This post describes how the traditional product development model distorts startup sales, marketing and business development. Freemium models have their own scorekeeping.)

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Customer Development Developer Customer Silicon Valley 215

The Next Web

DECEMBER 30, 2012

How to Build a Startup (EP245) by Steve Blank: You’ll learn the key steps of the Customer Development process. How to identify and engage the first customers for your product, and how to gather, evaluate and use their feedback to make your product, marketing and business model far stronger. Khan Academy.

Artificial Inteligence 156

Artificial Inteligence Founder Private Equity Ruby 156

Steve Blank

NOVEMBER 9, 2009

Oh, and we had no installed customer base. I had hired the VP of marketing from a potential software partner who was responsible to get all this 3 rd party software on our computer. In reality we hadn’t gotten any closer to our goal than the day we hired him. We had accomplished nothing – zero, zilch, nada.

Silicon Valley 324

Silicon Valley Software Review RSS Technical Review 324

Steve Blank

APRIL 14, 2013

The large players like Alibaba, Baidu and Tencent historically would be more likely to simply copy a startup’s features than to hire their talent. Filed under: China , Customer Development , Technology , Venture Capital. China Customer Development Technology Venture Capital'

China 215

China Silicon Valley Non-Compete Intellectual Property 215

ReadWriteStart

OCTOBER 13, 2011

Steve Blank is a retired serial entrepreneur, educator, thought leader and creator of the rigorous "Customer Development" methodology detailed in his book, "The Four Steps to the Epiphany." 9-to-5 Venture Capital. Yet Tekes does that and is trying to act like a government-run Venture Capital firm.

Finland 158

Finland Venture Capital Government Russia 158

Steve Blank

OCTOBER 19, 2009

While the last post was titled “ You Know You’re Getting Close to Your Customers When They Offer You a Job “, this post should probably be titled, “You Know You’re Getting Close to Your Customers When You Offer Them a Job.&# These hires were definitely not your standard marketing types.

Engineer 198

Engineer Silicon Valley Part-Time VPE Advisory Board 198

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. Koen, Gyorgy, and Adham are all Columbia Business School MBA 2012 students and former consultants with McKinsey and BCG.

Portfolio 144

Portfolio Private Equity Venture Capital Early Stage 144

Up and Running

MAY 18, 2016

You’ll learn more about what destroys startups, how to use the Customer Development method to succeed, how to use the Business Model Canvas, how to identify and keep your customers, and how to drive profits. Lean Customer Development: Building Products Your Customers Will Buy. B y Cindy Alvarez.

Startup 80

Startup Venture Capital Angel Investor Lean 80

Steve Blank

JULY 2, 2009

To an entrepreneur, being asked to join a venture firm with an Entrepreneur-in-Residence title means you have been tapped on the shoulder by the VC gods. The CDROM content business in the early 1990’s was one of the many of the long line of venture capital fads. We understood none of this.

Silicon Valley 120

Silicon Valley Technical Review RSS Software Review 120

The Next Web

MAY 4, 2013

Editor’s note: This is a guest post by Stefano Bernardi, who is on the founding team of Betable , where he heads Customer Development. Previously, he worked in venture capital in Europe. If you have no network, you will not be able to hire the best people in San Francisco. Fundraising.

San Francisco 159

San Francisco Europe Technical Review Due Diligence 159

Steve Blank

SEPTEMBER 10, 2009

In future posts I’ll describe how Eric Ries and the Lean Startup concept provided the equivalent model for product development activities inside the building and neatly integrates customer and agile development. Is there some defining factor that easily distinguishes the difference? Sounds like handspring.

Customer Development 196

Customer Development Developer Customer Silicon Valley 196

Steve Blank

JUNE 29, 2009

You’re Hired, You’re Fired. My first job in Silicon Valley: I was hired as a lab technician at ESL to support the training department. The manager of the training department who hired you wasn’t authorized to do so – and he’s been fired. Could I work here if he wanted to hire me?&#

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Agile Silicon Valley RSS California 245

Steve Blank

FEBRUARY 10, 2016

Hire around you to fill those weak spots. …. Will : Yes, and that was my first brutal intro into the difficulties of raising venture capital where I lived. . Steve : There is probably is no venture capital for 50 miles, if not 500 miles. . Filed under: Customer Development , SiriusXM Radio Show.

Silicon Valley 120

Silicon Valley Ohio Columbus Entrepreneur 120

Steve Blank

JUNE 25, 2009

The answer depends on your answer to two questions: which step in the Customer Development process are you on? Customer Development and Selling Strategy If you’ve just started your company you are in customer discovery. Hiring a VP of Sales in customer discovery typically sets a startup back.

Technology 138

Technology Silicon Valley Fractional VPE Part-Time VPE 138

Steve Blank

JULY 16, 2009

Successful pinball companies didn’t hire Hollywood talent. Meanwhile our company was pouring an enormous amount of dollars into building tools and video compression technology, while also hiring a lot of high-priced Hollywood talent like art directors, and script and story editors. I know what’s great and what’s not.

Silicon Valley 207

Silicon Valley RSS Video San Diego 207

Steve Blank

APRIL 20, 2009

Berkeley Haas Business School was courageous enough to give me a forum teach the Customer Development Methodology. In ten years, from the early 1950′s to the early 1960′s, the valley went through a hiring frenzy as jobs in microwave companies went from 700 to 7,000. This startup boom seemed to come out of nowhere.

Silicon Valley 270

Silicon Valley RSS San Francisco Technical Review 270

Steve Blank

APRIL 13, 2013

The previous post described the evolution of the Chinese Venture Capital system. China Venture Capital. If it’s driven by profit then the ecosystem needs both entrepreneurs as well as Venture Finance. China has the biggest Venture Capital industry outside the U.S. Entrepreneurship in Beijing.

Silicon Valley 267

Silicon Valley China Venture Capital Merger 267

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. I think you can blame Customer and Agile Development for a small part of it. Electron-based Venture Capital. Here’s why. Lean VC’s are Different.

Lean 258

Lean Internet Silicon Valley Venture Capital 258

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. They hired a world-class team with co-founders and early employees who shared their vision. The Scalable Startup.

Hockey Stick 276

Hockey Stick Venture Capital Startup Cofounder 276

David Teten

OCTOBER 1, 2015

I’ve seen a range of options for supporting entrepreneurs, which I can rank from least to most involvement in companies by investors: financier VCs, e.g., Correlation Ventures. portfolio operator VCs, e.g., Andreessen Horowitz, ff Venture Capital, First Round Capital, Google Ventures. mentor VCs, e.g., most VCs.

Software Developers 60

Software Developers Software Development Software Review Technical Cofounder 60

Steve Blank

JULY 20, 2009

Zilog Zilog was my first Silicon Valley company where you could utter the customer’s name in public. I was hired as a training instructor to teach microprocessor system design for the existing Z-80 family and to write a new course for Zilog’s soon to be launched 16-bit processor, the Z-8000. You created it and own it.

Silicon Valley 175

Silicon Valley Chad RSS San Francisco 175

Steve Blank

APRIL 9, 2009

We hired union laborers to do that. I hired a Director of Product Marketing who in his last company had ran its marketing and then went out into the field and became its national sales director. What’s your advice about hiring sales/marketing folks? (I The same was true for the Product Marketing group.

Silicon Valley 259

Silicon Valley Technical Review RSS PR 259

Steve Blank

MARCH 25, 2009

Reply steveblank , on March 28, 2009 at 7:27 am Said: Denis, Over time the blogs tagged under the “customer development&# category will build up a narrative of illustrative stories of how customer development evolved in practice. You need to hire the right type of sales people for the type of [.]

Silicon Valley 141

Silicon Valley Marketing RSS California 141

Steve Blank

APRIL 13, 2013

The previous post described the evolution of the Chinese Venture Capital system. China Venture Capital. If it’s driven by profit then the ecosystem needs both entrepreneurs as well as Venture Finance. China has the biggest Venture Capital industry outside the U.S. Entrepreneurship in Beijing.

Silicon Valley 159

Silicon Valley China Venture Capital Merger 159

Steve Blank

OCTOBER 5, 2009

Supercomputers get Personal Back in Sunnyvale my friend had not only been hired but had convinced the team that we should be building hardware – making a new class of computers not a software application. We’re building a supercomputer.” We told Andy we’d talk further when he got back from Europe.

North Carolina 125

North Carolina Silicon Valley Fractional VPE Part-Time VPE 125

Steve Blank

NOVEMBER 7, 2013

in developing these new models. We believe that using the customer development process to monetize these assets through new business models can create huge competitive advantage and more speed to market for us and other big companies. Filed under: Big Companies versus Startups: Durant versus Sloan , Customer Development.

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Lean Nepal Cofounder Customer Development 326