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Vertical Markets 2: Customer/Market Risk versus Invention Risk.

Steve Blank

Steve,&# he said, “you’re missing the most interesting part of vertical markets. The implications for entrepreneurs is that each of these (market risk versus invention risk,) require radically different financing models, a different type of venture investor, different timing for hiring sales and marketing, etc. Order Here.

Vertical 144
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Strategy Roundtable For Entrepreneurs: VCs Are Not Always Right

ReadWriteStart

I know that many, many entrepreneurs are feeling dejected because of investor rejections. Parallel6 is already clocking over $1 million in revenue and is looking to enhance its customer acquisition and also raise some financing. In that case, the verticals of choice could be manufacturing, wholesale and retail.

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Why the Future of Tesla May Depend on Knowing What Happened to Billy Durant

Steve Blank

The entrepreneur who founded and grew the largest startup in the world to $10 billion in revenue and got fired is someone you have probably never heard of. Sloan kept the corporate staff small and focused on policymaking, corporate finance, and planning. A version of this article appeared in the Harvard Business Review.

Michigan 268
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Raising Money Using Customer Development

Steve Blank

Unfortunately in early stage startups the drive for financing hijacks the corporate DNA and becomes the raison d’etre of the company. The Traditional VC Pitch Entrepreneurs who pursue the traditional product development model don’t have customer data to answer these questions. How many are there? Is there a profitable business model?

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How Boards Need to Evolve Over Time

Both Sides of the Table

And here’s an important point that I think modern entrepreneurs often forget: Investors are “co-owners” of your business. There are just as many bad entrepreneurs who do bad things. And somebody who isn’t thinking necessarily thinking about how to maximize their ownership in your next round of financing.

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Someone Stole My Startup Idea – Part 2: They Raised Money With My.

Steve Blank

I was out and about in Silicon Valley doing what I would now call Customer Discovery trying to understand how marketing departments in large corporations worked. I remember presenting our ideas for Marketing Automation to one VP of Marketing in a large Silicon Valley company. Certainly not fun, but great insight.

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Strategy Roundtable For Entrepreneurs: Menlo Park and The Silicon Valley Renaissance

ReadWriteStart

One theme seems to come up over and again, especially from geographies outside Silicon Valley: lack of a reliable pipeline of deals. In many of these cases, the funds or the accelerators want to put in $100,000 to $500,000 in select ventures but are having a hard time finding mature entrepreneurs to support.