Steve Blank

Tesla Lost $700 Million Last Year, So Why Is Tesla’s Valuation $60 Billion?

Steve Blank

Automobile manufacturers shipped 88 million cars in 2016. Tesla shipped 76,000. Yet Wall Street values Tesla higher than any other U.S. car manufacturer. What explains this more than 1,000 to 1 discrepancy in valuation? The future.

Why good people leave large tech companies

Steve Blank

If you want to build a ship, don’t drum up the people to gather wood, divide the work, and give orders. Instead, teach them to yearn for the vast and endless sea. Antoine de Saint-Exupéry. I was visiting with an ex-student who’s now the CFO of a large public tech company. The company is still one of the hottest places to work in tech. They make hardware with a large part of their innovation in embedded software and services.

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The No Excuses Culture

Steve Blank

Getting ready for our next semester’s class, I asked my Teaching Assistant why I hadn’t seen the posters for our new class around campus. Hearing the litany of excuses that followed –“It was raining.” (The The posters go inside the building.) “We We still have time.” (We

Everything You Ever Wanted to Know about Marketing Communications

Steve Blank

I was having coffee with the CEO of a new startup, listening to her puzzle through how to communicate to potential customers. She was an academic on leave from Stanford now selling SAAS software to large companies, but was being inundated with marketing communications advice. “My

Don’t let process distract you from finding the strategy

Steve Blank

When you’re up to your neck in alligators, don’t forget the goal was to drain the swamp. I love teaching because I learn something new every class. This time it was, “Don’t let process distract you from finding the strategy.”.

Why a Company Can’t “Be More Like a Startup”

Steve Blank

This article originally appeared in the Harvard Business Review. As more and more companies face disruption from globalization, new technology, and startups that have more capital than the incumbents, the continuing cry from Wall Street investors is, “Why can’t companies be as innovative as startups?”. Here’s one reason why: Startups can do anything. Companies can only do what’s legal. Startups can do anything.

Why Some Startups Win

Steve Blank

If you don’t know where you’re going, how will you know when you get there? I was having a second coffee with an ex student, now the head of a marketing inside a rapidly growing startup. His company had marched through customer discovery, learning about the customer problem, validated solutions and was now scaling sales and marketing. All good news. But he was getting uneasy that as his headcount was growing the productivity of his marketing department seemed to be rapidly declining.

Machine Learning Meets the Lean Startup

Steve Blank

We just finished our Lean LaunchPad class at UC Berkeley’s engineering school where many of the teams embedded machine learning technology into their products.

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The 11 Bad Habits Killing Innovation in Your Company

Steve Blank

Alexander Osterwalder invented the Business Model Canvas , co-founded strategyzer.com and was the lead author of Business Model Generation which sold a million copies in 30 languages. Alexander and I often collaborate on new ideas for corporate innovation.

Hacking for Defense @ Stanford 2017 – Lessons Learned Presentations

Steve Blank

We just finished our second Hacking for Defense class at Stanford. Eight teams presented their Lessons Learned presentations. Hacking for Defense is a battle-tested problem-solving methodology that runs at Silicon Valley speed.

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Intel Disrupted: Why large companies find it difficult to innovate, and what they can do about it

Steve Blank

In the 21 st century it’s harder for large corporations to create disruptive breakthroughs. Disruptive innovations are coming from startups – Telsa for automobiles, Uber for taxis, Airbnb for hotel rentals, Netflix for video rentals and Facebook for media. What’s holding large companies back?

Dalhousie University Commencement Speech – 2017

Steve Blank

Light a path for the better angels. Thank you, Chancellor McLellan, President Florizone, Dean Charlebois, Dr. Hewitt, and Dr. Kilfoil for the invitation to speak today and thank you for the honorary degree. I’m honored to speak at a university whose motto is: Pray and Work.

Innovation, Change and the Rest of Your Life

Steve Blank

I gave the Alumni Day talk at U.C. Santa Cruz and had a few things to say about innovation. —-. Even though I live just up the coast, I’ve never had the opportunity to start a talk by saying “Go Banana Slugs.”. I’m honored for the opportunity to speak here today. We’re standing 15 air miles away from the epicenter of technology innovation. The home of some of the most valuable and fastest growing companies in the world.

Innovation – something both parties can agree on

Steve Blank

On the last day Congress was in session in 2016, Democrats and Republicans agreed on a bill that increased innovation and research for the country. For me, seeing Congress pass this bill, the American Innovation and Competitiveness Act , was personally satisfying.

Working Hard is not the same as working smart

Steve Blank

Measuring how hard your team is working by counting the number of hours they work or what time they get in and leave is how amateurs run companies. The number of hours worked is not the same as how effective they (and you) are.

The Mission Model Canvas – An Adapted Business Model Canvas for Mission-Driven Organizations

Steve Blank

As we prepared for the new Hacking for Defense class at Stanford, we had to stop and ask ourselves: How do we use the Business Model Canvas if the primary goal is not to earn money, but to fulfill a mission?

What Founders Need to Know: You Were Funded for a Liquidity Event – Start Looking

Steve Blank

There are many reasons to found a startup. There are many reasons to work at a startup. But there’s only one reason your company got funded. Liquidity. ——-. The Good News. To most founders a startup is not a job, but a calling.

Hacking for Diplomacy – The State Department Takes Notice

Steve Blank

We’ve just held our seventh and eighth weeks of Hacking for Diplomacy at Stanford, and the attention our course is getting from Washington – and around the world – has been interesting.

Hacking for Diplomacy – The State Department Takes Notice

Steve Blank

We’ve just held our seventh and eighth weeks of Hacking for Diplomacy at Stanford, and the attention our course is getting from Washington – and around the world – has been interesting.

Blank’s Rule – To predict the future 1/3 of you need to be crazy

Steve Blank

In a rapidly changing world those who copy the past have doomed their future. When companies or agencies search for disruptive and innovative strategies they often assemble a panel of experts to advise them.

How The Marine Corps Builds an Innovation Culture

Steve Blank

Jennifer Edgin is the Chief Technology Officer of the Intelligence Division at the Headquarters of the Marine Corps.

The National Geospatial Intelligence Agency Goes Lean

Steve Blank

We tend to associate the government with words like bureaucracy rather than lean innovation. But smart people within government agencies are working to change the culture and embrace new ways of doing things. The National Geospatial Intelligence Agency (NGA) is a great example.

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Innovation Outposts in Silicon Valley – Going to Where the Action Is

Steve Blank

This is the second in a series about the changing models of corporate innovation co-authored with Evangelos Simoudis. Evangelos and I are working on what we hope will become a book about the new model for corporate entrepreneurship. Read part one on the Evolution of Corporate R&D.

Lean Innovation Management – Making Corporate Innovation Work

Steve Blank

I’ve been working with large companies and the U.S. government to help them innovate faster– not just kind of fast, but 10x the number of initiatives in 1/5 the time. A 50x speedup kind of fast. Here’s how. —– Lean Innovation Management.

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Hacking for Defense @ Stanford – Making the World a Safer Place

Steve Blank

Introducing Hacking for Defense – Connecting Silicon Valley Innovation Culture and Mindset to the Department of Defense and the Intelligence Community. Hacking for Defense is a new course at Stanford’s Engineering School in the Spring of 2016.

There are 145 Entrepreneurship Courses at Stanford

Steve Blank

Stanford is an incubator with dorms. Download the full text file with links to the courses here. Filed under: Hacking For Defense , Hacking for Diplomacy , Lean LaunchPad , Teaching. Hacking For Defense Hacking for Diplomacy Lean LaunchPad Teaching

Organizational Debt is like Technical debt – but worse

Steve Blank

Startups focus on speed since they are burning cash every day as they search for product/market fit. But over time code/hardware written/built to validate hypotheses and find early customers can become unwieldy, difficult to maintain and incapable of scaling.

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Why Build, Measure, Learn – isn’t just throwing things against the wall to see if they work

Steve Blank

I am always surprised when critics complain that the Lean Startup’s Build, Measure, Learn approach is nothing more than “throwing incomplete products out of the building to see if they work.”. Unfortunately the Build, Measure, Learn diagram is the cause of that confusion.

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The 7 Deadly Healthcare Startup Sins

Steve Blank

Todd Dunn is the Director of Innovation and runs the Intermountain Healthcare Transformation Lab , which is working to foster innovation in the healthcare industry. He’s now run several Lean LaunchPad classes and has seen a ton of healthcare startups. Here’s his advice for startups in this space.

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Pixar, Artists, Founders and Corporate Innovation

Steve Blank

I’m still surprised when I find unexpected connections with innovation in different industries.

How One Startup Figured Out What Could Really Help Deaf People

Steve Blank

Thibault Duchemin and his team applied for our Lean LaunchPad class at UC Berkeley in 2014. We accepted them because it was clear Thibault was driven to solve a very personal problem – he grew up in a Deaf family, the only one who could hear.

The Innovation Insurgency Gets Educated: Hacking for Defense, Diplomacy, Development, …

Steve Blank

We’re holding our 2 nd Hacking for Defense, Diplomacy,… educators and sponsors class January 17-19 at Georgetown University. The class is for: educators who want to learn how to teach a Hacking for Defense, Diplomacy, Development, etc.

What Do I Do Now? The Startup Lifecycle

Steve Blank

Last week I got a call from Patrick an ex-student I hadn’t heard from for 8 years. He was now the CEO of a company and wanted to talk about what he admitted was a “first world” problem.

Getting to “Yes” for Corporate Innovation

Steve Blank

I’ve been working with Roberto, the Chief Innovation Officer of a diversified company I’ll call Sprocket Industries. I hadn’t heard from Roberto in awhile and when we caught up, it was clear his initial optimism had faded.

Hacking For Defense In Silicon Valley

Steve Blank

Lead, follow or get the heck out of the way. In peacetime the U.S. military is an immovable and inflexible bureaucracy. In wartime it can adapt and adopt organizational change with startling speed.

Why Corporate Entrepreneurs are Extraordinary – the Rebel Alliance

Steve Blank

I’ve spent this year working with corporations and government agencies that are adopting and adapting Lean Methodologies. The biggest surprise for me was getting schooled on how extremely difficult it is to be an innovator inside a company of executors. —– What Have We Lost?

How to Avoid Innovation Theater: The Six Decisions To Make Before Establishing an Innovation Outpost

Steve Blank

This is the third in a series about the changing models of corporate innovation co-authored with Evangelos Simoudis. Evangelos and I are working on what we hope will become a book about the new model for corporate entrepreneurship.

NYU Commencement Speech 2016

Steve Blank

NYU Engineering Commencement Speech. Thank you for the opportunity to address you on your graduation from this esteemed engineering school. I’m honored to help you celebrate this important milestone.

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The Innovation Insurgency Scales – Hacking For Defense (H4D)

Steve Blank

Hacking for Defense is a battle-tested problem-solving methodology that runs at Silicon Valley speed. We just held our first Hacking for Defense Educators Class with 75 attendees.

It’s About Women Running Startups

Steve Blank

Just before the holidays I had coffee with Anne, an ex MBA student running a fairly large product group at a search engine company, now out trying to raise money for her own startup.