Steve Blank

SEPTEMBER 5, 2018

Since NewTV won’t be making the content, they will be licensing from and partnering with traditional entertainment producers. NewTV will depend on partners like telcos to distribute the content. First Movers” didn’t understand customer problems or the product features that solved those problems (what we now call product-market fit).

Lean 335

Lean Burn Rate Startup IPO 335

Steve Blank

SEPTEMBER 5, 2013

Over the last three years our Lean LaunchPad / NSF Innovation Corps classes have been teaching hundreds of entrepreneurial teams a year how to build their startups by getting out of the building and testing their hypotheses behind their business model. Filed under: Customer Development , Lean LaunchPad , Teaching.

Lean 316

Lean Customer Development Sales Cycle Business Model 316

Steve Blank

MARCH 8, 2011

It was designed to bring together many of the new approaches to building a successful startup – customer development, agile development, business model generation and pivots. Get Out of the Building and test the Business Model. This post is part one. to get hard-earned information.

Lean 300

Lean Business Model Customer Development Guinea 300

Steve Blank

AUGUST 21, 2013

What we found is that during the class almost all of them pivoted - making substantive changes to one or more of their business model canvas components. In the real world a big pivot in life sciences far down the road of development is a very bad sign due to huge sunk costs.

SBIR 316

SBIR Technical Review Lean Startup 316

Steve Blank

MAY 6, 2015

Luckily Alexander Osterwalder’s business model canvas presents a visual overview of the nine components of a business on one page. They are: value proposition, product/service the company offers (along with its benefits to customers). customer segments, such as users and payers or moms or teens. Testing Hypotheses.

Lean 120

Lean Agile Business Model Customer Development 120

The Startup Magazine

MARCH 29, 2024

Designing Your Business Model Crafting a business model is like building a blueprint for your venture. Start by defining your key resources, activities, and partners. Then, consider how you’ll reach your customers and what kind of relationship you want to build with them.

Intellectual Property 158

Intellectual Property Angel Investor Business Model Bootstrapping 158

David Teten

APRIL 1, 2021

Nick Kim , Crosscut’s Head of Platform, in his presentation at the 4th Annual VC Platform Summit, shared their Platform development methodology, which he viewed as an exercise in product development. For example, recruiting writ large is useful at all stages of development. I have developed a founder curriculum on my blog.

Private Equity 78

Private Equity Venture Capital Portfolio Equity 78

A Smart Bear: Startups and Marketing for Geeks

NOVEMBER 5, 2014

It’s often said that you shouldn’t talk about price during customer development interviews. ” How many times have you heard someone agree that “it would be great if someone did X,” but when show them someone did do X, but it costs $39.99, they don’t buy? 10,000/mo means larger companies only.

Bootstrapping 294

Bootstrapping Technical Review B2C Sales Cycle 294

Steve Blank

JUNE 26, 2015

Companies pursuing innovation can Buy, Build, Partner or use Open Innovation. The first, the notion of the “ ambidextrous organization ” from O’Reilly and Tushman , posits that companies that want to do continuous innovation need to execute their core business model while innovating in parallel. Fast forward to today.

Lean 120

Lean Management Business Model Incubator 120

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.) They had 16 interviews with target customers (Zynga, Yahoo, VMware, Walmart, Zeconder, etc.)

Customer 236

Customer Business Model Nebraska Cloud 236

Steve Blank

OCTOBER 31, 2014

The biggest mistake for most of these startups was not understanding that optimizing their business model for the 24 million people in the Australian market would not prepare them for the size and scale they needed to get to big. But other critical hypotheses such as activities, resources, partners, channels needed testing offshore.

Global 335

Global Australia Silicon Valley China 335

Startup Lessons Learned

MAY 9, 2012

TLDR: Brant Cooper and Patrick Vlaskovits , authors of The Entrepreneur's Guide to Customer Development are back with a new book called The Lean Entrepreneur. It took the idea of Customer Development and made it accessible to a whole new audience. Market segments drive your business model.

Entrepreneur 167

Entrepreneur Lean Southern California San Diego 167

Steve Blank

APRIL 7, 2020

Finally to have a better chance of a viable enterprise, they need to test all the other hypotheses in their business/mission model (pricing, demand creation, revenue, costs, etc.). The key principles of customer development are: There are no facts inside the building so get the heck outside. Which are permanent?

Customer 415

Customer Business Model Restful Video 415

Steve Blank

APRIL 10, 2009

Customer Development ) to help you quickly recognize and reverse any incorrect decisions. Customer Development) to help you quickly recognize and reverse any incorrect decisions.&# Reply One difference between VCs and Entrepreneurs « Lightspeed Venture Partners Blog , on April 20, 2009 at 7:06 am Said: [.]

Silicon Valley 302

Silicon Valley RSS Startup Agile 302

Steve Blank

JANUARY 14, 2014

A pivot can change any of nine different things in your business model. A pivot may mean you changed your customer segment, your channel, revenue model/pricing, resources, activities, costs, partners, customer acquisition – lots of other things than just the product. Business Model.

Business Model 331

Business Model Lean Customer Development Channel 331

Steve Blank

DECEMBER 2, 2013

We talk a lot about Customer Development, but there’s nothing like seeing it in action to understand its power. Here’s what happened when an extraordinary Digital Health team gained several critical insights about their business model. Cost-based Pricing versus Value-based Pricing. A Five-sided Market.

Customer 324

Customer Churn Rate Customer Development Lean 324

Steve Blank

DECEMBER 7, 2010

Business schools teach aspiring executives a variety of courses around the execution of known business models, (accounting, organizational behavior, managerial skills, marketing, operations, etc.). In contrast, startups search for a business model. (Or Their objective is to get users, orders, customers, etc.

Wiki 312

Wiki Lean Management Business Model 312

Steve Blank

NOVEMBER 21, 2016

The students “get out of the building” and test their hypotheses in front of potential beneficiaries using the Customer Development methodology, all while building and updating their Minimal Viable Products. They’re also focusing on developing relationships with and getting buy-in from key partners like the Red Cross and other NGOs.

Silicon Valley 120

Silicon Valley Washington United Kingdom Lean 120

Steve Blank

NOVEMBER 21, 2016

The students “get out of the building” and test their hypotheses in front of potential beneficiaries using the Customer Development methodology, all while building and updating their Minimal Viable Products. They’re also focusing on developing relationships with and getting buy-in from key partners like the Red Cross and other NGOs.

Silicon Valley 120

Silicon Valley Washington United Kingdom Lean 120

Steve Blank

NOVEMBER 27, 2012

The class teaches the three basic skills all entrepreneurs need to know: business model design. customer development. Some general customer development slides click here. TechStars and Startup America are partnering to provide mentors in the U.S. agile engineering. The Entreprenuers Checklist.

Open Source 335

Open Source Silicon Valley Lean Customer Development 335

Steve Blank

JUNE 11, 2012

Few of the Principal Investigators or Entrepreneurial Leads had startup experience, and few of the mentors were familiar with Business Model design or Customer Development. 2) Get the teams out of the building to test their hypotheses with prospective customers. Methodology. They left with very deep knowledge.

Lean 252

Lean Incubator Business Model Georgia 252

Steve Blank

AUGUST 27, 2012

It was great to watch him embrace the spirit and practice of customer development. He was constantly in front of customers, listening, selling, installing and learning. It seemed like once a week Yuri would come back from a customer meeting brimming with new insights. And that’s where the problem was. he’d declare. “We

Founder 317

Founder Cofounder Advisory Board Burn Rate 317

Steve Blank

FEBRUARY 19, 2014

All of sudden what was an additional engineering and development effort now became a small, variable cost. As a bonus it meant the 1,400 aerial applicator companies could be a potential distribution channel partner. Build continuous customer discovery into your company DNA. Customer Development Teaching Technology'

Customer 318

Customer Algorithm Customer Development California 318

Steve Blank

JANUARY 25, 2010

In this post we’re going to offer a new definition of why startups exist : a startup is an organization formed to search for a repeatable and scalable business model. A Business Model. Ok, but what is a business model ? A business model describes how your company creates, delivers and captures value.

Agile 335

Agile Startup Silicon Valley Business Model 335

Steve Blank

FEBRUARY 22, 2010

Startups that are searching for a business model need to keep score differently than large companies that are executing a known business model. Yet most entrepreneurs and their VC’s make startups use financial models and spreadsheets that actually hinder their success. Managing the Business. Here’s why.

Balance Sheet 300

Balance Sheet Startup Burn Rate Metrics 300

Steve Blank

MARCH 11, 2010

I taught the class this semester with Ann Miura-Ko a partner at Maples Investments. Our goal is to teach students the key concepts of the startup process and help them understand that a startup is a search for a profitable business model. And learn how to pivot their model as reality intrudes.). Customer Discovery.

Intellectual Property 234

Intellectual Property Business Model Customer Development Distribution 234

Steve Blank

MARCH 11, 2015

I suggested the best place to start the conversation is with the 21 st century definition of a startup: A startup is a temporary organization designed to search for a repeatable and scalable business model. That means in their core business, large companies have a series of knowns. and how to price the product.

Widget 120

Widget Lean Business Model Metrics 120

Steve Blank

MAY 3, 2011

This week they were testing their hypotheses about Partners. Partners are the external companies whose product or service combines with your Value Proposition to create a complete customer solution or “whole product&# to satisfy customers. Answer: The most cost effective wavelength is 800-900nm ~ $20/watt.

South Dakota 223

South Dakota Business Model Lean United States 223

Steve Blank

MARCH 25, 2011

Week 3 of the class and our teams in our Stanford Lean LaunchPad class were hard at work using Customer Development to get out of the classroom and test the first key hypotheses of their business model: The Value Proposition. and report the results of face-to-face customer discovery. Syllabus is here. Veritas D.C.

Cloud 232

Cloud Intellectual Property Lean Customer Development 232

Steve Blank

AUGUST 5, 2010

Fairchild Semiconductor became the progenitor of a flood of Silicon Valley chip companies and at the same time the adoption of the limited partnership as the model for Venture Firms gave VC’s their own profitable business model. Quickly iterate the product in front of customers.

Lean 260

Lean Internet Silicon Valley Venture Capital 260

Steve Blank

JULY 25, 2011

The goal was commercial products, but as scientists and engineers the company’s founders realized that at times the cost of experimentation was failure. Large companies execute known business models. It wasn’t pure research, but rather a culture of taking sufficient risks to get to market. But by the early 1960?s

Engineer 307

Engineer Silicon Valley United States Venture Capital 307

www.startuplessonslearned.com

MAY 4, 2012

Each founder places more value on his or her own contributions than on the contributions of the other cofounders,knowing the cost and extent of his or own efforts in a way that he or she cannot know the cost and extent of others’ efforts. But such a best-case approach is hazardous. Uncertainties abound.

Equity 72

Equity Founder Technical Cofounder Cofounder 72

Seeing Both Sides

JULY 11, 2013

Before this occurs, the sales process is a craft or an art - custom-made by the founder or evangelist sales VP. You dive deep into a customer development process, working closely with a few customers who feed you requirements and are willing to trial an imperfect product that is evolving quickly.

Sales 50

Sales Technical Review Software Review B2B 50

Steve Blank

JULY 25, 2016

— Partner disagreements and a lack of planning killed Michael’s beach volleyball bar venture, but he doesn’t consider it a failure: It cost me about $80,000, but the way I look at that is it was tuition money. It cost me what it cost me to learn what I learned, and I used that, and moved into the next deal, Quick Set Concrete.

Entrepreneur 120

Entrepreneur Fort Worth America Silicon Valley 120

A Smart Bear: Startups and Marketing for Geeks

DECEMBER 20, 2010

As a good student of startup theory, especially modern theories of customer development, this time I was methodical and purposeful. If you want a step-by-step, here's a great guide and checklist of how to do early customer development by Ash Maurya. This time, though, it was intentional. And it worked.

Startup 239

Startup Campaign Turkey Customer Development 239

Startup Lessons Learned

MAY 27, 2009

The Lean Startup is a practical approach for creating and managing a new breed of company that excels in low-cost experimentation, rapid iteration, and true customer insight. It uses principles of agile software development, open source and web 2.0, No departments The Five Whys for Startups (for Harvard Business R.

Lean 60

Lean Austin San Francisco Continuous Deployment 60

The Startup Toolkit

NOVEMBER 15, 2012

So here’s another way of thinking about the stages of a startup in visual terms using the business model canvas[2]. Important Business Question #1: does anybody care at all and will they pay us? You shift from qualitative feedback (customer development) to quantitative feedback (metrics). 20 clients?

Startup 55

Startup Business Model Retention Acquisition 55