David Teten

SEPTEMBER 23, 2017

Private equity and venture capital investors are copying our sisters in the hedge fund and mutual fund world: we’re trying to automate more of our job. Coalesce address the more general problem of searching through large data sets for best fits. Stanford List of Venture Capital and Private Equity Sources.

Private Equity 60

Private Equity Venture Capital Equity Technical Review 60

Steve Blank

APRIL 16, 2013

For decades this revered business magazine described management techniques that were developed in and were for large corporations – offering more efficient and creative ways to execute existing business models. ” It defined a startup as a “temporary organization designed to search for a repeatable and scalable business model.”

Technical Review 219

Technical Review Lean Venture Capital Customer Development 219

Steve Blank

JANUARY 27, 2011

We’ve been teaching that the difference between a startup and an existing company is that existing companies execute business models, while startups search for a business model. (Or Or more accurately, startups are a temporary organization designed to search for a scalable and repeatable business model.)

Business Model 275

Business Model Utah Intellectual Property Agile 275

Steve Blank

SEPTEMBER 1, 2021

The key was the realization that start-ups are not simply smaller versions of large companies, which execute/ exploit known business models, and whose customers, problems, and necessary product features are all “knowns.” In sharp contrast, start-ups operate in “search/ explore ” mode, seeking a repeatable and profitable business model.

Incubator 402

Incubator Lean Agile Business Model 402

Steve Blank

MAY 17, 2010

A business plan is the execution document that large companies write when planning product-line extensions where customer, market and product features are known. Most startups are facing unknown customer needs, an unknown product feature set and is an organization formed to search for a repeatable and scalable business model.

Business Plan 312

Business Plan Business Model Customer Development Deal Flow 312

Steve Blank

APRIL 14, 2013

For the last 10 years China essentially closed its search, media and social network software market to foreign companies with the result that Google, Facebook, Twitter, YouTube, Dropbox, and 30,000 other websites were not accessible from China. Filed under: China , Customer Development , Technology , Venture Capital.

China 323

China Silicon Valley Non-Compete Intellectual Property 323

Steve Blank

APRIL 14, 2013

For the last 10 years China essentially closed its search, media and social network software market to foreign companies with the result that Google, Facebook, Twitter, YouTube, Dropbox, and 30,000 other websites were not accessible from China. Filed under: China , Customer Development , Technology , Venture Capital.

China 215

China Silicon Valley Non-Compete Intellectual Property 215

Steve Blank

AUGUST 13, 2009

Customer Development/Lean Startups In hindsight startups and the venture capital community left out the most important first step any startup ought to be doing – hypothesis testing in front of customers- from day one. It’s what my textbook on Customer Development describes. I was an idiot.

Silicon Valley 179

Silicon Valley RSS Technical Review Lean 179

Steve Blank

NOVEMBER 5, 2009

Chasing funding versus chasing customers and a repeatable and scalable business model, is one reason startups fail. Product Development – Getting Funded as The Goal In a traditional product development model, entrepreneurs come up with an idea or concept, write a business plan and try to get funding to bring that idea to fruition.

Customer Development 262

Customer Development Developer Customer Silicon Valley 262

Steve Blank

APRIL 10, 2009

Customer Development ) to help you quickly recognize and reverse any incorrect decisions. Customer Development) to help you quickly recognize and reverse any incorrect decisions.&# The search for a profitable and scalable business model might require a startup [.] That’s why startups are agile. Order Here.

Silicon Valley 300

Silicon Valley RSS Startup Agile 300

Steve Blank

MAY 30, 2016

Understanding the left-side of the mission model canvas ( activities, resources , partners , and costs) forces all teams to ask, “Are we building a product for a DOD/IC customer only or do we have a “dual-use” product that could be sold commercially and get funded by venture capital?”. This post is a continuation of the series.

Silicon Valley 120

Silicon Valley San Diego Technical Review Incubator 120

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 20, 2013

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. Venture Capital. Filed under: Customer Development , Lean LaunchPad , Science and Industrial Policy , Teaching.

Startup 294

Startup Venture Capital Lean IPO 294

Steve Blank

JUNE 2, 2011

A revolution has taken hold as customer development and agile engineering reinvent the Startup process. 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. Victor Hugo. When The Boardroom is Bits.

Silicon Valley 281

Silicon Valley Business Model Early Stage Venture Capital 281

Steve Blank

MARCH 26, 2014

However, I will then argue that while these methods are necessary to managing new ventures inside a company, they are insufficient. A startup is a temporary organization in search of a repeatable, scalable business model. One memorable example of this was Xerox’s internal venture capital fund, Xerox Technology Ventures (XTV).

Startup 327

Startup Business Model Lean Russia 327

Steve Blank

NOVEMBER 30, 2009

Customer Development is all about gathering a list of what features customers want by talking to them, surveying them, or running “focus groups.” Gathering feature requests from customers is not what marketing should be doing in a startup. And it’s certainly not Customer Development.

Customer Development 278

Customer Development Developer Customer Silicon Valley 278

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

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

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

JUNE 11, 2009

However, you will be dealing with almost daily change, (new customer feedback/insights from a Customer Development process and technical roadblocks ,) as the company searches for a repeatable and scalable business model. This means you still need to have a resilient personality, and be agile.

Cofounder 219

Cofounder Founder Silicon Valley Technical Cofounder 219

Steve Blank

FEBRUARY 16, 2012

When venture capital teamed up with technology entrepreneurs in the 1960’s they brought with them the canonical MBA planning tool – the business plan. Tools to help them manage the search for a repeatable and scalable business model. Business Plan vs. Business Model + Customer Development. The Business Plan ?-

Business Model 263

Business Model Customer Development Utah Business Plan 263

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

JUNE 23, 2016

For the first 75 years of the 20 th century, when capital for new ventures was scarce, the smartest engineering talent went to corporate R&D labs. But starting in the last quarter of that century and accelerating in this one, a new form of financing – risk capital (angel and venture capital) — emerged.

Architecture 227

Architecture IRR Balance Sheet Liquidity Event 227

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. Silicon Valley, New York). Here’s how. The Wrong Discussion s.

Silicon Valley 290

Silicon Valley Business Model Venture Capital Balance Sheet 290

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. Do they “get&# Customer Development ? These VC’s are skilled in helping you search for the business model. Do They Get Customer Development? Lean Startups ?

Founder 231

Founder Vesting Later Stage Early Stage 231

Steve Blank

JUNE 4, 2012

This is a 3-day program for entrepreneurship faculty from around the world how to teach entrepreneurship via the Lean LaunchPad approach ( business model canvas + customer development ) and bring their entrepreneurship curriculums into the 21st century. Filed under: Customer Development , Lean LaunchPad , Teaching.

Silicon Valley 305

Silicon Valley Lean Utah Customer Development 305

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. After Stanford, Ann joined Mike Maples’ Venture Capital firm Floodgate as a partner. Learn how to put together a business model , not a business plan.

Business Model 226

Business Model Silicon Valley California Engineer 226

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. Silicon Valley, New York). Here’s how. The Wrong Discussion s.

Silicon Valley 258

Silicon Valley Business Model Venture Capital Balance Sheet 258

Steve Blank

DECEMBER 3, 2012

We propose that corporations equipped for the challenges of the 21st century think of innovation as a sliding scale between execution and search. It only emerges after an intense business model design and search activity based on the customer development process. We will propose some alternatives.

Business Model 333

Business Model Customer Development United States Operations 333

Steve Blank

JULY 27, 2009

I’ve built my company using the Customer Development Model from Day One. I recently completed the Validation step (less the industry analyst presentations) and am ready to move on to Customer Creation. Can I buy you lunch to share it with you? &# Yes, I’m serious. So the ask is made — shall it be given?

Silicon Valley 120

Silicon Valley RSS Technical Review California 120

Steve Blank

APRIL 2, 2009

You need to know the day-in-the-life of the customer. If you’re constantly correlating data and searching for patterns, all intelligence if properly integrated will give you insight. We don’t need to know all this stuff.” Yes you do. From top to bottom.

Silicon Valley 124

Silicon Valley Technical Review RSS Software Review 124

Steve Blank

MARCH 18, 2011

Customer Development , Agile Engineering and the Lean methodology enforced a process of incremental and iterative development. Startups could now get a first version of a product out to customers in weeks/months rather than months/years. That requires building a company using Agile and Customer Development.

Internet 334

Internet IPO Silicon Valley Agile 334

Steve Blank

DECEMBER 7, 2010

In contrast, startups search for a business model. (Or Or more accurately, startups are a temporary organization designed to search for a scalable and repeatable business model.) There are few courses which teach aspiring entrepreneurs the skills (business models, customer and agile development, design thinking, etc.)

Wiki 311

Wiki Lean Management Business Model 311

Steve Blank

JANUARY 21, 2013

Jim Hornthal splits his time between venture capital, entrepreneurship and education. I think you will see the work of some talented and determined entrepreneurs who have honed their customer discovery and customer development skills to an impressive level. Align and train mentors to embrace customer development.

Lean 282

Lean Cofounder Dividend Business Model 282

Startup Lessons Learned

OCTOBER 4, 2008

He serves on the advisory board of a number of technology startups, and has worked as a consultant to a number of startups, companies, and venture capital firms. Eric, I landed upon your blog when I was searching for the path to CTO a couple of months back and I have been a frequent to the site since then.

San Francisco 155

San Francisco Technical Cofounder Fractional CTO CTO 155

www.kernelmag.com

MARCH 8, 2012

Is there a junior or senior developer from a previous gig who will respect you for a previous role and be ready to build their own baby with you? So, while you’re slaving away on your customer development while keeping an eye out for your technical match, you could do worse than read Paul Graham’s 2007 essay, How not to die.

Cofounder 43

Cofounder Technical Cofounder Founder Coder 43

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