Up and Running

OCTOBER 11, 2017

Airbnb is a well-known example of the marketplace business model. Understanding the problem you are solving for your customers is undoubtedly the biggest challenge you’ll face when you’re starting a business. Customers need to want what you are selling and your product needs to solve a real problem.

Business Model 137

Business Model Disintermediation Affiliate Advertising 137

Startup Professionals Musings

FEBRUARY 12, 2023

These things outside your control do happen, but based on my years of experience as a startup advisor and angel investor, I still see too many strategies leading to failure that are inside the entrepreneur decision realm. I certainly agree that starting a business is fraught with risk, and none of us get it all right the first time.

Intellectual Property 312

Intellectual Property Startup Angel Investor Viral 312

Startup Professionals Musings

FEBRUARY 10, 2023

Even though the color of their money is always green, all startup investors are not the same. Investor due diligence on a startup is not a mysterious black art, but is nothing more than a final integrity check on all aspects of your business model, team, product, customers, and plan. It’s no fun for either side.

Technical Review 345

Technical Review Due Diligence Term Sheet Offshore 345

Steve Blank

APRIL 12, 2010

Startups are the search to find order in chaos. At a board meeting last week I watched as the young startup CEO delivered bad news. Each sale requires us to handhold the customer and takes way too long to close. The Search for the Business Model. Pivoting the Business Model. Steve Blank.

Business Model 332

Business Model Agile Customer Development Startup 332

The Startup Magazine

FEBRUARY 27, 2024

Retaining your existing customers is arguably as important as attracting new ones. However, many businesses unintentionally make mistakes that lead to customer turnover. Below, we explore five common mistakes that drive customers away, including how they can be avoided to ensure customer retention and satisfaction.

Customer 91

Customer Retention Technical Review Social Media 91

Startup Professionals Musings

APRIL 11, 2022

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. Customer relationships.

Business Model 334

Business Model Intellectual Property Angel Investor Channel 334

Steve Blank

JANUARY 27, 2011

The most visible step was the first International Business Model Competition , hosted by the BYU Rollins Center for Entrepreneurship and Technology. What’s A Startup? Therefore the very foundations of teaching entrepreneurship should start with how to search for a business model.

Business Model 275

Business Model Utah Intellectual Property Agile 275

Steve Blank

SEPTEMBER 5, 2018

A version of this article first appeared in the Harvard Business Review. It’s the antithesis of the Lean Startup. Almost overnight the floodgates opened, and risk capital was available at scale from venture capital investors who rushed their startups toward public offerings. ” Fire, Ready, Aim. And it may work.

Lean 335

Lean Burn Rate Startup IPO 335

Startup Professionals Musings

DECEMBER 2, 2022

You can’t succeed in business without an operational model that delivers value to customers at a reasonable price, with an underlying cost that allows you to make a profit. The most common failures are solutions looking for a problem, lack of a defined market, or an inadequate revenue model. Target market.

Business Model 256

Business Model Distribution Viral Green 256

Startup Professionals Musings

FEBRUARY 26, 2023

Every new business quickly realizes that revenue coming in every period on a committed basis is the Holy Grail to survival and growth. Based on traditional research, getting new customers is five to ten times harder than getting additional revenue from existing customers. Front-of-the-line model. Network model.

Business Model 294

Business Model Startup Cloud Curation 294

Steve Blank

OCTOBER 30, 2012

Today we are announcing the biggest entrepreneurial program ever launched – Startup Weekend Next. A partnership of Startup Weekend , Startup America , TechStars and Udacity , Startup Weekend Next brings four weeks of amazing hands-on training learning to build your startup to cities around the world.

Startup 335

Startup Lean Incubator Business Model 335

Steve Blank

JANUARY 17, 2023

Three types of organizations – Incubators, Accelerators and Venture Studios – have emerged to reduce the risk of early-stage startup failure by helping teams find product/market fit and raise initial capital. They do the most to de-risk the early stages of a startup. Reducing Startup Risk.

Technical Cofounder 346

Technical Cofounder Intellectual Property Technical Review Incubator 346

Startup Professionals Musings

FEBRUARY 14, 2022

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. I found their five phases of the process to be compelling, based on my own years of experience mentoring startups: Nail the pain.

Angel Investor 359

Angel Investor Technical Review Incubator Business Model 359

Steve Blank

FEBRUARY 25, 2010

Customer Development is a technique startups use to quickly iterate and test each part of their business model. How you execute Customer Development varies, depending on your type of business. In my book, “ The Four Steps to the Epiphany ” I use enterprise software as the business model example.

Customer Development 266

Customer Development Web Developer Customer 266

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

JULY 1, 2019

Many entrepreneurs think that adapting to the new technologies, like smart phones and Internet commerce, are the key to attracting new customers. In fact, businesses need to adapt even more completely to the changes in the buying and social behavior of consumers. Startups earn relationships and resulting stature the same way.

Customer 213

Customer Technical Review Social Media Social Network 213

Startup Professionals Musings

APRIL 12, 2019

It’s amazing how fast your startup will outgrow your garage or home office. You find that you need to be near major customers, or employee transportation hubs, where rents are higher than you ever anticipated. Then there is the need for more substantial business accounting, database, and social media monitoring.

Cost 264

Cost Founder Software Review Startup 264

ReadWriteStart

JANUARY 26, 2021

Launching a startup is ridiculously exciting. Of course, most of you reading this know that the odds of your business becoming a tech unicorn are slim, even if you have a great idea in place. That’s because more than half of all startups fail within the first five years of operation. Poor Customer Experience.

Startup 180

Startup Angel Investor Business Model Demand 180

Steve Blank

APRIL 23, 2014

For decades large companies have gone shopping in Silicon Valley for startups. What can companies learn from others’ failed efforts to integrate startups into large companies? The answer - there are two types of integration strategies, and they depend on where the startup is in its lifecycle. The Innovation Portfolio.

Acquisition 332

Acquisition Intellectual Property Silicon Valley Startup 332

Startup Professionals Musings

MARCH 22, 2013

Many entrepreneurs think that adapting to the new technologies, like smart phones and Internet commerce, are the key to attracting new customers. In fact, businesses need to adapt just as completely to the changes in the buying and social behavior of consumers. High-technology product startups, without customers, don’t make a business.

Customer 251

Customer Technical Review Startup Social Media 251

YoungUpstarts

AUGUST 27, 2020

Entrepreneurs are currently looking at an environment that is unlike any other seen in the history of commerce, while leaders of businesses and startups have to think on-the-fly to learn what potential customers need most right now. New business realities present unique opportunities for startups. Healthcare.

Entrepreneur 246

Entrepreneur Technical Review Startup LLC 246

Steve Blank

JUNE 27, 2017

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. Startups can do anything.

Startup 275

Startup New York City Valuation Distribution 275

Startup Professionals Musings

NOVEMBER 2, 2022

As a long-time mentor to entrepreneurs, here is my collection of smart risks that investors and I look for in new startups: Focus on a tough customer problem rather than a fun technology. Investors hate technology solutions looking for a problem, due to the high risk of no customers. Implement a modern real business model.

Forecast 304

Forecast Stock Options Technical Review Metrics 304

Steve Blank

NOVEMBER 13, 2012

The Japanese edition of The Startup Owner’s Manual hit the bookstores in Japan this week. I asked Tsutsumi-san to write a guest post for my blog to describe his experience with Customer Development in Japan. But customers didn’t agree. Finding a repeatable process for startups. ————-. .

Japan 292

Japan Customer Development Developer Customer 292

YoungUpstarts

NOVEMBER 14, 2020

A college syllabus is enough work for the typical student, but some enterprising students still desire to create a startup company in college. This smaller group of students are voluntarily increasing their work quota, with the additional responsibility of running a startup company. Conduct A Personal Evaluation.

Startup 264

Startup Social Media Finance Media 264

VC Cafe

APRIL 4, 2024

This creates a challenge, but also an opportunity for startups in the generative AI space. 70% of the startups in the current batch (170 out of 243) are AI companies. How can startups even compete against big tech, scale ups and other startups? Case in point: this week was Ycombinator’s W24 demo day.

Generative AI 78

Generative AI Artificial Inteligence Technical Review ChatGPT 78

NZ Entrepreneur

JUNE 19, 2023

A new batch of enterprising New Zealanders are being given the opportunity to fast track their ventures from idea through to startup, thanks to an online education initiative backed by Callaghan Innovation and entrepreneur education platform Startup NZ.

New Zealand 98

New Zealand Technical Cofounder Early Stage Entrepreneur 98

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 109

Balance Sheet Technical Review Business Model Business Plan 109

Startup Professionals Musings

DECEMBER 25, 2021

Today’s customers are overloaded and overwhelmed by too much information, so making a decision is a challenge. You may think this is only important to your marketing and sales people, but in reality it doesn’t matter how great your product or technology might be, you won’t succeed if you don’t understand your target customer decision process.

Customer 340

Customer Sales Business Model Social Media 340

VC Cafe

FEBRUARY 21, 2023

This is a question startup founders ask themselves multiple times a week. Understanding the benchmarks on conversion, retention, and churn for your business is therefore critical. Understanding the benchmarks on conversion, retention, and churn for your business is therefore critical. How are we doing?

Retention 109

Retention Conversion Churn Rate B2C 109

ReadWriteStart

JUNE 1, 2020

I have often been asked about Startup Funding by entrepreneurs. Many myths surround the subject of startup funding. Here is Startup Funding, a Comprehensive Guide for Entrepreneurs. Funding might be a need in some cases — but it’s not an absolute necessity. ? The business should be self-sustainable.

Startup 150

Startup Entrepreneur Elevator Pitch Seed Stage 150

The Startup Magazine

JULY 16, 2021

The lesson of the pandemic era is clear, as market conditions change, business models must evolve. Success is not, as you would think, about having stable business models across market conditions. There is one consideration that should be paramount in your thinking about your business model.

Business Model 167

Business Model Aggregator Revenue Analytics 167

The Startup Magazine

DECEMBER 30, 2019

Insurtech is disrupting traditional business. The New Insurance Business-Model. Upcoming insurance startups have an advantage over older models by using disruptive technology. We’re looking at more competitive pricing and customization, and it is expected to grow 41% every year between 2019 and 2023.

Artificial Inteligence 151

Artificial Inteligence Technical Review Startup Demand 151

Startup Professionals Musings

OCTOBER 17, 2020

The impact of the current pandemic on small businesses and staffing is causing us all pain, and forcing new ways of thinking. Maybe we haven’t seen the results yet, but there are thousands of startup opportunities to offer new alternatives and services, to replace those destroyed by the crisis. The impact of global instability.

Customer 417

Customer Startup China California 417

VC Cafe

AUGUST 4, 2022

In May 2022, I published a post on ‘ advice for startups in a downturn ‘ which is more business oriented advice aggregated from the top pundits. You can’t change the market, but you can change how you respond to it – is it time to test a change in business model? are you focusing on your customers?

Founder 158

Founder Aggregator Startup Valuation 158

Startup Professionals Musings

JANUARY 13, 2014

This rather crude expression weighs heavily on the mind of all good startup founders, no matter how confident they appear. The real milestone, proving the business model, is that first product sold for full price to a total stranger, leaving him happy. Customers don’t buy the impossible dream. Marty Zwilling.

Business Model 248

Business Model Sales Customer Distribution 248

Steve Blank

JUNE 23, 2020

The pandemic has upended the business models of most startups and existing companies. As the economy reopens companies are finding that customers may have disappeared or that their spending behavior has changed. Suppliers are going out of business or requiring cash-up-front terms. Here’s how.

Customer 436

Customer Marketing Customer Development Lean 436