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. Tech IPO prices exploded and subsequent trading prices rose to dizzying heights as the stock prices became disconnected from the traditional metrics of revenue and profits.

Lean 335

Lean Burn Rate Startup IPO 335

Steve Blank

JUNE 27, 2017

Its employees and investors don’t depend on an existing revenue stream. Every Airbnb rental is a lost night of revenue for hotels that hate it. pollution standards, it faked the tests by programming cars to pass inspections. One of the unheralded advantages of a startup is what at first glance appears to be its weakness.

Startup 275

Startup New York City Valuation Distribution 275

Steve Blank

MARCH 12, 2014

Their seniors just completed the school’s first-ever 3-credit semester program in evidence-based entrepreneurship. We realized that past K-12 Entrepreneurial classes taught students “the lemonade stand” version of how to start a company: 1) come up with an idea, 2) execute the idea, 3) do the accounting (revenue, costs, etc.).

Lean 334

Lean Customer Development Startup Silicon Valley 334

Steve Blank

APRIL 23, 2014

buy out an entire company for its revenue and profits. These include the product itself, the customer, the distribution channel, revenue model, how to get, keep and grow customers, resources and activities needed to build the business and costs.). If they decide to buy, large companies can: license/acquire intellectual property.

Acquisition 332

Acquisition Intellectual Property Silicon Valley Startup 332

Steve Blank

MAY 11, 2021

Mrinal Menon is one of my Hacking for Defense students at Stanford where he’s currently in the MBA program. Jeff Decker is a co-instructor of the Hacking for Defense class and the Stanford program director. Dozens of outreach programs across the military now offer quick revenue to early-stage companies.

Artificial Inteligence 326

Artificial Inteligence Marketing Startup China 326

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.

Maryland 272

Maryland Lean DC Virginia 272

Steve Blank

AUGUST 21, 2013

For the last two and a half years, the teams that were part of the National Science Foundation Innovation Corps were those who wanted to learn how to commercialize their science, applied to join the program, fought to get in and went through a grueling three month program. – See more here. The syllabus is here.

SBIR 314

SBIR Technical Review Lean Startup 314

Steve Blank

JANUARY 22, 2014

Today it’s dominated by capital efficient software, web and mobile startups whereas 10 years ago it was dominated by semiconductor and hardware startups that consumed huge amounts of capital before their first dollar in revenue. This is true whether the company is concept stage or ramping revenue. The Bend Experience.

Early Stage 286

Early Stage Silicon Valley Oregon Technical Review 286

Steve Blank

MARCH 17, 2020

Next, take a look at your actual revenue each month – not forecast, but real revenue coming in each month. Subtract your monthly gross burn rate from your monthly revenue to get your net burn rate. All your assumptions about customers, sales cycle and most importantly, revenue, burn rate and runway are no longer true.

Burn Rate 436

Burn Rate Startup Valuation Sales Cycle 436

Steve Blank

APRIL 12, 2010

In contrast, in a startup following the Customer Development process, this is when the founders realize that something is wrong with the business model (because revenue is not scaling.) In traditional startups this is when the VP of Sales or Marketing gets fired and the finger-pointing starts.

Business Model 332

Business Model Agile Customer Development Startup 332

Steve Blank

NOVEMBER 16, 2009

In it, I got asked a question I often hear: “What if we have a web-based business that doesn’t have revenue or paying customers? And without revenue how do we know if we achieved product/market fit to exit Customer Validation?” They’re putting money into web services/business – most without early revenue. End of theory.&#

Customer Development 219

Customer Development Web Developer Customer 219

Steve Blank

NOVEMBER 13, 2012

By then, I had become a venture capitalist at Mitsui Sumitomo Insurance and found myself talking to a lot of entrepreneurs who were proclaiming their great technology yet were struggling with little revenue, and claiming they were “crossing the chasm”. Maysee now enjoys hockey stick revenue growth. Customer Development Education.

Japan 292

Japan Customer Development Developer Customer 292

Steve Blank

NOVEMBER 2, 2009

Sales people cost money, and when they’re not bringing in revenue, their wandering in the woods is time consuming, cash-draining and demoralizing. Marketing demand creation programs (Search Engine Marketing, Public Relations, Advertising, Lead Generation, Trade Shows, etc.) Lets see why. Something else? Who’s the customer?

Lean 244

Lean Silicon Valley Startup RSS 244

Steve Blank

APRIL 23, 2018

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 Foundation , the Sloan School of Management at MIT , the Sloan program at Stanford , and the Sloan/Kettering Memorial Cancer Center in New York. There’s the Alfred P.

Michigan 268

Michigan Cofounder Stock Forecast 268

Steve Blank

NOVEMBER 4, 2013

The UCSF Office of Innovation and Technology ( Erik Lium and Stephanie Marrus) is the reason the program exists. It turns out that for commercialization, the business model (Customers, Channel, Revenue Model, etc.) for therapeutics, diagnostics, devices, bioinformatics and digital health have very little in common.

Lean 258

Lean Customer Business Model Customer Development 258

Steve Blank

MARCH 26, 2019

So in 2011, with support from the Stanford Technology Ventures Program (the entrepreneurship center in the Stanford Engineering School), we created a new capstone entrepreneurship class – the Lean LaunchPad. As a serial entrepreneur turned educator, this didn’t make sense to me.

Lean 248

Lean Business Model Balance Sheet Video 248

Steve Blank

SEPTEMBER 20, 2022

In exchange I shared with him the news that he was on step one of a ten step industry mapping program. In revenue, market share and growth rate. Over the next few weeks Shenwei shared what he had learned and sent me his increasingly refined and updated industry relationship map. The 4th mapping pass showed up 48 hours later.)

Forecast 376

Forecast China Demand Naming 376

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

JANUARY 4, 2011

I spent two weeks of December in Chile as a guest of Professor Cristóbal García, Director of EmprendeUC at the Catholic University of Chile , which just signed up a 3-year collaboration partnership with Stanford’s Technology Ventures Program. Yet the copper companies import nearly 100% of the advanced technology they use.

Silicon Valley 335

Silicon Valley Chile South America Venture Capital 335

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

MAY 21, 2020

Provide Americans over 60 and those with chronic health problems whose job cannot be done remotely with a “personal payroll protection program” –pay to have them not show up at work – until a vaccine is available. Businesses can make additional revenue catering to those who remain sheltered.

South Korea 436

South Korea Spain Italy China 436

Steve Blank

AUGUST 15, 2016

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 and lows that pushed them forward. We were looking for four students for the program, four developers in training, and we ended up getting 700 applicants in a week.

Cofounder 142

Cofounder Entrepreneur Africa Sales Cycle 142

Steve Blank

NOVEMBER 7, 2013

What we didn’t envision was that one creative corporate VP would take that post and build a world-class corporate innovation program around it. What CEOs, management teams and shareholders care about is growth —revenue growth, greater user adoption, increased market share, bigger margins, etc. We’re betting on the latter.

Lean 326

Lean Nepal Cofounder Business Model 326

Steve Blank

FEBRUARY 10, 2016

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 and lows that pushed them forward. Steve : So you needed to raise money to actually build the business?

Silicon Valley 120

Silicon Valley Ohio Columbus Entrepreneur 120

Steve Blank

NOVEMBER 5, 2020

How Should the DoD Realign its Concepts, Culture, Programs and Budgets? And so there’s a huge human capital effort to be done here to raise the overall tech literacy of all of the folks- from the program managers to the operators. I’ve got to have access to recurring revenue to survive until then.”

Technology 300

Technology China United States Government 300

Steve Blank

AUGUST 15, 2016

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 and lows that pushed them forward. We were looking for four students for the program, four developers in training, and we ended up getting 700 applicants in a week.

Cofounder 120

Cofounder Entrepreneur Africa Sales Cycle 120

Steve Blank

NOVEMBER 18, 2016

While these acquisitions have teams of great researchers, they rarely contribute actual revenue generating products (because most never reached that stage when they were acquired.) I had all that in mind as we watched our teams present. If you can’t see the video click here. If you can’t see the presentation click here.

Artificial Inteligence 318

Artificial Inteligence Lean Exit Strategy Startup 318

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. – seems like another planet. What Took You So Long.

Engineer 278

Engineer Silicon Valley United States Intellectual Property 278

Steve Blank

SEPTEMBER 19, 2016

By the end of the 20 th century the Central Intelligence Agency (CIA) realized that it was no longer the technology leader it had been when it developed the U-2, SR-71, and CORONA reconnaissance programs in the 1950’s and 1960’s. The program will scale to 13+ universities in 2017.

Silicon Valley 246

Silicon Valley Afghanistan Iraq Community 246

Steve Blank

MARCH 31, 2014

Companies horde cash and squeeze the most revenue and margin from the money they use. They can partner with suppliers, co-create with consumers, open-source key technologies, open their application programming interfaces, or run open incubators for customer ideas.

Private Equity 325

Private Equity Metrics China Intellectual Property 325

Steve Blank

DECEMBER 23, 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. I was able to get a company to let me use their license for a percentage of my revenue. He was sure he was on to something.

Cofounder 120

Cofounder Entrepreneur Colorado Customer Development 120

Steve Blank

SEPTEMBER 26, 2018

For example, in the last year the FDA announced its Pre-Cert pilot program which allows companies making software as a medical device to build products without each new device undergoing the FDA clearance process. However, if the Apple Watch becomes a device eligible for reimbursement , there’s a huge revenue upside for Apple.

China 67

China Software Review Technical Review Algorithm 67

Steve Blank

FEBRUARY 7, 2013

—– I came to the Lean LaunchPad Educators Program 2 ½ day workshop to learn from the best in the business of entrepreneurship education. Steve replied, “You have to decide if you’re running an incubator whose goal is revenue or teaching students a methodology that will last them the rest of their lives.

Delaware 297

Delaware Lean Entrepreneur Advisory Board 297

Steve Blank

MARCH 2, 2013

We believed that we could teach entrepreneurship at Hawken to the 6th to the 8th graders, so the week after Christmas Break I taught a 35-hour, one-week course in our Middle School Insights Program. On Wednesday and Thursday, splash pages were launched; email addresses captured, cost structures and revenue streams explored.

Lean 304

Lean SCRUM Ohio Cleveland 304

Steve Blank

AUGUST 31, 2009

Was the sales revenue model based on actually testing the hypotheses outside the building? Education program must emphasize the need to start with customer needs and design your entire product development strategy around a customer development blueprint, as you put it so very well. All of this is usually a bad idea.

Customer Development 238

Customer Development Developer Customer Silicon Valley 238

Steve Blank

SEPTEMBER 24, 2009

When a startup finds a repeatable sales process and steadily increasing revenue, its investors wants to harvest the rewards and build a culture of “execution.” No trade-up program? 4) You don’t see any revenue gain past three years. No discount for existing users?

Customer 195

Customer Silicon Valley RSS California 195

Steve Blank

AUGUST 20, 2013

on medical device revenues, regardless of profitability delays or cash-flow breakeven. The National Institute of Health (NIH) is also setting up translational centers through its NCATS program. But while these are all great programs, they are likely to fail to deliver on their promise.

Startup 294

Startup Venture Capital Lean Early Stage 294