article thumbnail

The Customer Development Manifesto: Reasons for the Revolution.

Steve Blank

So what’s wrong the product development model? The first hint lies in its name; this is a product development model, not a marketing model, not a sales hiring model, not a customer acquisition model, not even a financing model (and we’ll also find that in most cases it’s even a poor model to use to develop a product.)

article thumbnail

Times Square Strategy Session – Web Startups and Customer Development

Steve Blank

I was in New York last week with my class at Columbia University and several events made me realize that the Customer Development model needs to better describe its fit with web-based businesses. And without revenue how do we know if we achieved product/market fit to exit Customer Validation?” It’s an impressive portfolio.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Air Force Academy Gets Lean

Steve Blank

In 2007, I graduated United States Air Force Academy as a computer engineer and entered the Air Force’s acquisition corps , excited and confident about my ability to bring technology to bear for our airmen. Graduation day with classmate Joseph Helton (right), killed in action in Iraq in 2009. I know our cadets will make us proud.

Lean 262
article thumbnail

Can You Trust Any vc's Under 40?

Steve Blank

Posted on September 14, 2009 by steveblank Over the last 30 years Wall Street’s appetite for technology stocks have changed radically – swinging between unbridled enthusiasm to believing they’re all toxic. Tech acquisitions went crazy at the same time the IPO market did. And some companies didn’t even have to go public to get liquid.

article thumbnail

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

Steve Blank

Customer/Market Risk Versus Invention Risk One day I was having lunch with a VC sharing what I learned from my students. I’ve heard investors ask about sustainable technical differentiation for companies that you put on the customer/market risk end of the scale. For example, complex new semiconductor architectures, (i.e.

Vertical 144
article thumbnail

SuperMac War Story 4: Repositioning SuperMac – “Market Type” at.

Steve Blank

Getting B-52s through the Soviet Air Defense System » 20 Responses brantcooper , on March 26, 2009 at 3:52 pm Said: Great story, Steve. I need to look at working in Market Types, however, since the cost of market share acquisition differs drastically, even if the cost of customer acquisition were the same.

article thumbnail

Lessons Learned: The three drivers of growth for your business.

Startup Lessons Learned

is an elegant way to model any service-oriented business: Acquisition Activation Retention Referral Revenue We used a very similar scheme at IMVU, although we werent lucky enough to have started with this framework, and so had to derive a lot of it ourselves via trial and error. The AARRR model (hence pirates, get it?)