Steve Blank

APRIL 12, 2010

Each sale requires us to handhold the customer and takes way too long to close. He took a deep breath, looked around the boardroom table and then proceeded to outline a radical reconfiguration of the product line (repackaging the products rather than reengineering them) and a change in sales strategy, focusing on a different customer segment.

Business Model 332

Business Model Agile Customer Development Startup 332

Steve Blank

APRIL 21, 2011

Last week the teams tested their hypotheses about Customer Relationships (how do they get, keep and grow customers.) This week they were testing their hypotheses about the sales “Channel” – how a company delivers its value proposition (i.e. its product or service) to its customers. The Nine Teams Present.

Channel 215

Channel Artificial Inteligence San Francisco Business Model 215

Startup Professionals Musings

OCTOBER 30, 2020

I suggest looking for painful problems to solve, rather than “easier to use” or “nice to have” solutions, for customers with money. Customers line up to believe and buy from people who are viewed as leaders or experts relative to a specific solution. Collaborate with customers to tune your solution.

Merger 386

Merger Acquisition Software Review Social Media 386

Startup Professionals Musings

FEBRUARY 8, 2023

Most business professionals I know have been conditioned to think of inflation as highly negative, driving up their costs, and reducing customer buying. I see it as an opportunity to find new ways to attract customers , make long-needed changes to improve productivity, and lower your own costs of doing business.

Technical Review 239

Technical Review Revenue Social Media Cost 239

Startup Professionals Musings

FEBRUARY 12, 2023

The discipline of writing down your plan is the best way to make sure you understand how to transform your idea into a business, and how to communicate it. Offer free solutions to bring in more customers. Don’t get caught in the myth that you shouldn’t worry about monetization until after you have a large customer base.

Intellectual Property 312

Intellectual Property Startup Angel Investor Viral 312

The Startup Magazine

OCTOBER 4, 2023

This will allow you to identify opportunities, challenges, customer preferences, and emerging trends. Market research involves gathering information about potential customers in your target area, competitor strategies, pricing scales, and demand patterns amongst other things.

Balance Sheet 107

Balance Sheet Technical Review Business Model Business Plan 107

Hearpreneur

OCTOBER 13, 2023

A well-constructed business model is a foundational element of a business plan and strategy. It provides clarity on how a company plans to succeed in the marketplace and is essential for attracting investors, partners, and customers. Thanks to Jordan Adair, ShirtMax ! #2- Our primary profit driver is the margin on labor.

Business Model 131

Business Model Affiliate Jordan B2C 131

YoungUpstarts

NOVEMBER 25, 2014

While it’s true that at no other time are customers in as much of a shopping mood, SMBs cannot afford to sit back and follow a “Field of Dreams” business model. An operating website does not automatically translate into customers stopping by for a visit, let alone buying something.

Customer 176

Customer Social Media eCommerce Campaign 176

Steve Blank

APRIL 4, 2011

This week they were testing who the customer, user, payer for the product will be (and discovering if they have a multi-sided business model , one with both buyers and sellers.) The news from customers was not good. talk to more customers? Which value added services do public clouds want to attract customers for?

Customer 234

Customer Business Model Nebraska Cloud 234

Steve Blank

JUNE 27, 2017

Initially, a startup has no business model and no market share to defend. If they select a business model that targets industry incumbents, they don’t have to worry about upsetting existing customers, partners or distribution channels. Its employees and investors don’t depend on an existing revenue stream.

Startup 275

Startup New York City Valuation Distribution 275

Startup Professionals Musings

MAY 17, 2020

The discipline of writing down your plan is the best way to make sure you understand how to transform your idea into a business, and how to communicate it. Offer free solutions to bring in more customers. Don’t get caught in the myth that you shouldn’t worry about monetization until after you have a large customer base.

Intellectual Property 436

Intellectual Property Angel Investor Viral Distribution 436

Steve Blank

JUNE 26, 2014

We’re changing the order in which we teach the business model canvas and customer development to better-fit therapeutics, diagnostics and medical devices. The Lean LaunchPad class uses the three “ Lean Startup ” principles: Alexander Osterwalders “ business model canvas ” to frame hypotheses.

Intellectual Property 281

Intellectual Property Lean IP Open Source 281

Steve Blank

SEPTEMBER 5, 2018

A version of this article first appeared in the Harvard Business Review. Given the stock market was buying “the story and vision” of anything internet, inflated expectations were more important than traditional metrics like customers, growth, revenue, or heaven forbid, profits. ” Fire, Ready, Aim.

Lean 335

Lean Burn Rate Startup IPO 335

Startup Professionals Musings

MAY 15, 2019

Steve Blank via Flickr by jdlasica I see more and more entrepreneurs who seem to have everything going for them – vision, motivation, passion, even a good business plan, product, and money, and yet they can’t close customers. Great businesses begin with a customer problem that has a big and monetizable pain point.

Startup 245

Startup Angel Investor Technical Review Incubator 245

Startup Professionals Musings

JANUARY 13, 2014

The real milestone, proving the business model, is that first product sold for full price to a total stranger, leaving him happy. Of course, one sale isn’t really enough, so you need to get the first customer to recommend you to a second, and make sure the rate of sales ramps up quickly enough to keep the business alive and growing.

Business Model 248

Business Model Sales Customer Distribution 248

Steve Blank

SEPTEMBER 16, 2014

Surprisingly if you’ve filled out the business model canvas you already know who you need. I was having breakfast with Radhika, an ex-grad student of mine who wanted to share her Customer Discovery progress for her consumer hardware startup. Filed under: Customer Development. Customer Development'

Cofounder 335

Cofounder Founder Intellectual Property Business Model 335

Startup Professionals Musings

JANUARY 11, 2020

They forget that adapting their company and themselves as their customers evolve is the key to long-term survival. Think of Blockbuster and Toys ‘R’ Us , both of whom missed customer changes and the move to online. Create an overt strategy to react to emerging customer trends. Expand into key new sales and delivery channels.

Customer 359

Customer Institutional Investors Channel Acquisition 359

ReadWriteStart

JULY 26, 2022

However, the news is not all bad, especially with the fresh take on digital marketplaces and the expansion range of prospects for businesses. Small and medium businesses get direct exposure to international customers and seem to be coming out as the winners in the chemical market game. Here are a few we can recommend.

Germany 175

Germany San Jose Technical Review India 175

ReadWriteStart

SEPTEMBER 9, 2022

You’ll want to select a niche with enough potential customers to make the marketplace viable — but not so much competition that it will be challenging to get started. You should also be sure to offer customer service and technical support, so customers remain happy and continue using your marketplace.

B2B 131

B2B Developer Technical Review Business Model 131

Steve Blank

APRIL 7, 2020

The classes are built on the Lean Startup methodology: Customer Discovery, Agile Engineering and the Business/Mission Model Canvas. So how do our students get out of the building to talk to customers to do Customer Discovery when they can’t get out of the building? How do should startups do it? You certainly do!

Customer 413

Customer Business Model Restful Video 413

Steve Blank

MARCH 12, 2014

Therefore we needed them to think and learn about two parts of a startup; 1) ideation - how to create new ideas and 2) customer development – how do they test the validity of their idea (is it the right product, customer, channel, pricing, etc.). Customer Discovery in the Real World.

Lean 334

Lean Customer Development Startup Silicon Valley 334

Steve Blank

SEPTEMBER 22, 2011

As part of our Lean LaunchPad classes at Stanford, Berkeley, Columbia and for the National Science Foundation, students build a startup in 8 weeks using Business Model Design + Customer Development. Get customers to the site. Test the “problem” with customer data. and Balsamiq and throwing together a web site.

Lean 333

Lean Web Coder Business Model 333

Steve Blank

OCTOBER 30, 2012

The class teaches founders how to dramatically reduce their failure rate through the combination of business model design, customer development and agile development using the Startup Owners Manual. More importantly, it makes no demands of you to stand and deliver your weekly customer development progress in front of your peers.

Startup 335

Startup Lean Incubator Business Model 335

Steve Blank

OCTOBER 25, 2010

It’s the combination of Business Model Design and Customer Development. Business Model Design. Today every business organization from startup to large company uses the words “business model.” More importantly they showed how any company’s business model could be defined in 9 boxes.

Customer Development 329

Customer Development Business Model Developer Customer 329

VC Cafe

MARCH 1, 2024

AI to build enterprise software – In the future, every enterprise could have their own custom ERP, CRM or HRIS that is continually updating itself as the company itself is changing. Eliminating middlemen in healthcare – from using AI to automate repetitive human jobs to exploring new and better business models for providing care.

Artificial Inteligence 177

Artificial Inteligence Technical Review Software Review Generative AI 177

Steve Blank

APRIL 23, 2014

Most large companies manage three types of innovation: process innovation (making existing products incrementally better), continuous innovation (building on the strength of the company’s current business model but creating new elements) and disruptive innovation (creating products or services that did not exist before.).

Acquisition 332

Acquisition Intellectual Property Silicon Valley Startup 332

Steve Blank

MAY 6, 2015

Build a product, get it into the real world, measure customers’ reactions and behaviors, learn from this, and use what you’ve learned to build something better. Repeat, learning whether to iterate, pivot or restart until you have something that customers love. Build, Measure, Learn sounds pretty simple. Waterfall Development.

Lean 120

Lean Agile Business Model Customer Development 120

Startup Professionals Musings

AUGUST 4, 2013

Many entrepreneurs work hard on the proof of concept (technical), but skip any proof of the business model (revenue flow). In other words, once they are convinced that the product works, they assume their price, sales channel, and marketing will bring in the customers. So how do you go about proving the business model?

Business Model 235

Business Model Product Advisory Board Angel Investor 235

Startup Professionals Musings

JULY 9, 2017

An effective tool I see used more and more, as a prelude to a more detailed business plan, is the Business Model Canvas , first introduced by Alexander Osterwalder back in 2008. In my experience as a new business advisor, a business is nothing until people are aligned and work in sync. Value propositions.

Business Model 143

Business Model Intellectual Property Startup Angel Investor 143

The Startup Magazine

AUGUST 11, 2023

This suggests the firm should have a list of paying customers, consistent sales cycles, a clear value proposition, and a developing revenue pipeline in the ideal situation. One needs to evaluate their go-to-market strategy, distribution channels, scalability, execution team, and so on at this time.

Seed Stage 126

Seed Stage Technical Review Early Stage Due Diligence 126

Startup Professionals Musings

JUNE 30, 2012

Many entrepreneurs work hard on the proof of concept (technical), but skip any proof of the business model (revenue flow). In other words, once they are convinced that the product works, they assume their price, sales channel, and marketing will bring in the customers. So how do you go about proving the business model?

Business Model 248

Business Model Advisory Board Entrepreneur Angel Investor 248

ReadWriteStart

MARCH 8, 2021

They want to snowball their customer acquisition, attracting thousands of new people to the brand, and reach diverse new audiences in new locations. And the revenue from your existing customers alone may not be enough to cut it. . Marketing/advertising channels. Every startup entrepreneur wants to see their company grow.

Startup 127

Startup Retention Acquisition Agile 127

ReadWriteStart

JANUARY 25, 2020

On the topic of ecommerce, one wonders to what extent this business model is applicable, and where is it likely to end? It’s the extent of this phenomenon that has resulted in soaring businesses across the world. million annual customers. This is where customer retention comes into play.

eCommerce 152

eCommerce Technical Review Social Media Analytics 152

The Startup Magazine

OCTOBER 26, 2021

For example, you can ask for feedback from your customers on what they like and dislike about your company, or you can examine your competitors’ strengths and weaknesses to see how your business compares. . A strong online presence is crucial for any small business to succeed in today’s world.

Small Business 165

Small Business Mobile Revenue Social Media 165

Gust

JANUARY 5, 2014

The real milestone, proving the business model, is that first product sold for full price to a total stranger, leaving him happy. Of course, one sale isn’t really enough, so you need to get the first customer to recommend you to a second, and make sure the rate of sales ramps up quickly enough to keep the business alive and growing.

Business Model 171

Business Model Sales Customer Distribution 171

View from Seed

SEPTEMBER 12, 2017

The old brands and distribution channels are dead or dying. But while that particular model has seen success, it certainly won’t be the only way that companies will be able to create greater personalization and serendipitous discovery for their customers. Most apparel purchases are now in some way influenced by the internet.

Internet 209

Internet eCommerce Bankruptcy Technical Review 209

ReadWriteStart

APRIL 8, 2023

Customers will be even more comfortable with the introduction of voice commerce, another unicorn of the online shopping experience. Sustainability is the Queen In 2023, customers have become even more environmentally conscious, as recent statistics prove. Only in 2021, 72.9% Amazon has been at it for years.

eCommerce 185

eCommerce Technical Review Software Review Analytics 185