Steve Blank

FEBRUARY 6, 2014

The class is designed for students who said they want a hands-on experience in what it takes to build a startup – not just writing a business plan or listening to lectures. Others complained that they had paid for plane tickets and it would cost them money to change, etc. Customer Development Lean LaunchPad Teaching'

Lean 283

Lean Customer Development Business Model Email 283

Steve Blank

MAY 6, 2015

Repeat, learning whether to iterate, pivot or restart until you have something that customers love. Waterfall Development. While it sounds simple , the Build Measure Learn approach to product development is a radical improvement over the traditional Waterfall model used throughout the 20 th century to build and ship products.

Lean 120

Lean Agile Business Model Customer Development 120

YoungUpstarts

SEPTEMBER 4, 2016

On an elementary level, this translates into efficient manufacturing at a lower cost. Learn how these disjointed sources of materials affect your supply chain costs and cause potential delays. Develop Relationships with Supply Chain Partners. trillion in profits due to cost-saving and increased revenues.

Management 145

Management Forecast Los Angeles San Francisco 145

Steve Blank

APRIL 4, 2011

Veritas , was the team building a low cost, residential wind turbine that average homeowners could afford. From a slow start of customer interaction they made major progress in getting out for the building. This week they refined their target market by building a map of potential customers in the U.S.

Customer 240

Customer Business Model Nebraska Cloud 240

Steve Blank

OCTOBER 31, 2014

They realized if they could develop and promote a well-coordinated sports technologies industry, they could capture their unfair share of the $300 billon sports consumer market. Trip 1 to China to understand manufacturing landscape, potential partners and rough cost of goods. Business Model versus Business Plan Customer Development'

Global 335

Global Australia Silicon Valley China 335

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 332

Business Model Lean Customer Development Channel 332

Steve Blank

MARCH 11, 2016

To be honest I built the class out of frustration watching schools teach aspiring entrepreneurs that all they need to know is how to write a business plan or how to sit in an incubator building a product. entrepreneurship is experiential and requires theory and a ton of practice. We organized the class as: Team-based.

Lean 120

Lean Incubator Business Model Channel 120

Steve Blank

DECEMBER 7, 2010

There are few courses which teach aspiring entrepreneurs the skills (business models, customer and agile development, design thinking, etc.) Many entrepreneurship courses focus on teaching students “how to write a business plan.” This class is not about how to write a business plan.

Wiki 316

Wiki Lean Management Business Model 316

Steve Blank

MAY 11, 2009

And I got to experience a type of customer buying behavior I had never seen before – the Novelty Effect. Present at the Creation It was early 1991 and Apple’s software development team was hard at work on QuickTime , the first multimedia framework for a computer. The software was idiot proof. It was fun watching it happen.

Video 184

Video Silicon Valley RSS California 184

Steve Blank

DECEMBER 3, 2012

It only emerges after an intense business model design and search activity based on the customer development process. Companies will have to maintain a portfolio of new business model initiatives, not unlike a venture capital firm, and they will have to accept that maybe only 1 out 10 initiatives might succeed.

Business Model 334

Business Model Customer Development United States Operations 334

Steve Blank

JANUARY 25, 2010

Think of a business model as a drawing that shows all the flows between the different parts of your company. A business model diagram also shows how the product gets distributed to your customers and how money flows back into your company. Most of the time the darn customers don’t behave as you predicted.

Agile 335

Agile Startup Silicon Valley Business Model 335

Steve Blank

NOVEMBER 15, 2011

Our Lean LaunchPad class teaches scientists and engineers that starting a company is another research project that can be solved by an iterative process of hypotheses testing and experimentation built around the business model / customer development / agile development solution stack.

Silicon Valley 245

Silicon Valley Lean Customer Development Business Model 245

Steve Blank

MARCH 4, 2014

These groups are adapting or adopting the practices of startups and accelerators – disruption and innovation rather than direct competition, customer development versus more product features, agility and speed versus lowest cost. StageGate Process. Corporate KPI’s, Policy and Procedures: Innovation Killers.

IRR 335

IRR Startup Business Model Agile 335

Steve Blank

MARCH 11, 2015

They know the activities, resources and partners (manufacturing, regulation, IP, supply chain, etc.) – and the costs to deliver the product/service and have well defined product development and product management tools that emphasize the linear nature of shipping products to existing customers. That’s now changed.

Widget 120

Widget Lean Business Model Metrics 120

Steve Blank

FEBRUARY 23, 2016

As a formal method, the Lean Startup consists of three parts: The Business Model Canvas – to frame hypotheses, Customer Development – to test those hypotheses in front of customers, and Agile Engineering – to build Minimum Viable Products to maximize learning. Customer Segments is changed to Beneficiaries.

Business Model 120

Business Model Revenue Channel Community 120

Steve Blank

MARCH 11, 2010

Students formed 5-person teams, came up with a business idea then got out of the building to validate their business model. Our goal was not to teach the students to write a business plan nor were we trying to teach them how to give a pitch to VC’s. A Startup is a Search For A Business Model.

Intellectual Property 257

Intellectual Property Business Model Customer Development Distribution 257

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. This post is part three. Veritas D.C.

Cloud 237

Cloud Intellectual Property Lean Customer Development 237

Steve Blank

AUGUST 27, 2009

This series of posts is a brief explanation of how we’ve evolved from Product Development to Customer Development to the Lean Startup. The Product Development Diagram Emerging early in the twentieth century, this product-centric model described a process that evolved in manufacturing industries.

Silicon Valley 269

Silicon Valley Product Startup Product Development 269

Steve Blank

MARCH 1, 2010

It’s Part of the Plan. Most investors require you to write a business plan which includes a section called a “competitive analysis” in which you tell potential investors how your product compares to products other companies trying to develop and sell to the same customers. No feature lists without facts.

Customer Development 263

Customer Development Metrics Differentiation Engineer 263

Steve Blank

JUNE 8, 2009

In the last three posts, we drew the relationship of market risk and invention risk with vertical markets and pointed out verticals where customer development would be useful. In contrast to simply executing your business plan, the Customer Development process is built on low-cost and continuous learning and iterating.

Vertical 125

Vertical Silicon Valley RSS Marketing 125

Steve Blank

MARCH 18, 2011

Startups built every possible feature the founding team envisioned (using “Waterfall development,”) into a monolithic “release” of the product taking months or years to build a first product release. The Business Plan (Concept- Alpha-Beta - FCS ) became the playbook for startups. Rules For the New Bubble: 2011 -2014. Visibility.

Internet 335

Internet IPO Silicon Valley Agile 335

Startup Lessons Learned

SEPTEMBER 8, 2008

It cost us a few hundred thousand dollars to get our app up and running, but none of that was dollars spent on software licenses or professional services. We just had our app support a few tens of thousands of customers, and it did well. The Entrepreneur’s Guide to Customer Development ► June (3) What is a startup?

San Francisco 68

San Francisco Technology Continuous Deployment Lean 68

Steve Blank

JUNE 3, 2009

Reducing Risk – Simulation versus Customer Development If you remember the first part of this discussion, startups face two types of risk; invention risk and/or customer/market risk. The Customer Development Process I teach and write about is designed to do just that. However, for the Web 2.0

Vertical 137

Vertical Silicon Valley Marketing RSS 137

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

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. The Stanford class introduced the first management tools for entrepreneurs built around the business model / customer development / agile development solution stack.

Engineer 311

Engineer Silicon Valley United States Venture Capital 311

Steve Blank

MARCH 15, 2011

Off to a running start, they not only wrote down their initial business model hypotheses but they immediately got out of the building and began interviewing prospective customers to test their three most critical assumptions in any business: Value Proposition , Customer Segment and Channel. in Control Systems.

Business Model 238

Business Model Nebraska Peru Germany 238

VC Cafe

JULY 26, 2020

Most principles of Lean Startup remain true, as described by Steve Blank in The Lean Startup Changes Everything : Business Plans are dead: Startups a series of hypothesis that need to be tested. Ditch the business plan and when assumptions are proven wrong, pivot Customer Development: Build a product your customers want (vs.

Lean 214

Lean Seed Capital Startup Burn Rate 214

Steve Blank

NOVEMBER 2, 2009

For those of you who have been following the discussion, a Lean Startup is Eric Ries ’s description of the intersection of Customer Development , Agile Development and if available, open platforms and open source. The Customer Development process (and the Lean Startup) is one way to do that.

Lean 260

Lean Silicon Valley Startup RSS 260

Steve Blank

MAY 3, 2011

Answer: The most cost effective wavelength is 800-900nm ~ $20/watt. Final question: Is the improved absorption efficiency worth the extra cost? Veritas , building a low cost wind turbine for cities. Our lecture covered Key Resources and Cost Structure. What are the key financials metrics for costs in your business model?

South Dakota 232

South Dakota Business Model Lean United States 232

www.startuplessonslearned.com

MAY 4, 2012

They assume that the tasks that they are performing during the early stage of startup development are the same tasks that will be performed during the next and very different stages. At the company level, founders learn about the flaws in their initial plans and adjust the startup’s strategy, business plan,and business model.

Equity 72

Equity Founder Technical Cofounder Cofounder 72

Startup Lessons Learned

JUNE 5, 2009

Certainly venture-backed startups don’t have this luxury – every business plan has a model in it. If it costs $0.10 to acquire an early adopter, how much should it cost to acquire a mainstream customer? The Entrepreneur’s Guide to Customer Development ► June (3) What is a startup?

San Francisco 102

San Francisco Lean Continuous Deployment Startup 102

Startup Lessons Learned

OCTOBER 23, 2013

LSC: Tell us about the customer development you did for your book: Alistair: We''ve been thrilled at how Lean Analytics seemed to resonate with founders. As operators of an accelerator—and founders in our own right—Ben and I had constantly struggled with what the “right” numbers are for a business.

Analytics 167

Analytics Lean Widget Metrics 167

Steve Blank

NOVEMBER 1, 2010

With an out-of-this-world business plan. When Iridium was first conceived inside Motorola in 1987, worldwide cell phone coverage was sparse, calls were unreliable and per minute costs were expensive. Cell phone handsets were the size of a lunch box and cost thousand of dollars. A Business Plan Frozen in Time.

Business Plan 335

Business Plan Customer Business Model Customer Development 335

Steve Blank

APRIL 28, 2016

You’re constantly critically analyze the gaps in someone’s business plan. Ajay : We had done some customer discovery to validate that there was a need in the American energy market to become dramatically more efficient with hydraulic fracturing. Filed under: Customer Development , SiriusXM Radio Show.

Entrepreneur 120

Entrepreneur Cofounder Seed Capital Texas 120

Steve Blank

APRIL 28, 2016

You’re constantly critically analyze the gaps in someone’s business plan. Ajay : We had done some customer discovery to validate that there was a need in the American energy market to become dramatically more efficient with hydraulic fracturing. Filed under: Customer Development , SiriusXM Radio Show.

Entrepreneur 120

Entrepreneur Cofounder Seed Capital Texas 120

Steve Blank

OCTOBER 11, 2016

He was also on the team that wrote the business plan for BlackGirlsCode. In 2014, Business Insider listed Dan as one of the top 46 African Americans in Tech. Through that process, I lost a lot including some relationships with individuals, and I started to develop symptoms of acute anxiety. . Tune in Thursday, Oct.

Columbus 248

Columbus Entrepreneur Ohio Cofounder 248

SoCal CTO

DECEMBER 1, 2010

Equity-Only CTO and Equity-Only Developers - SoCal CTO , November 1, 2010 I had a recent email dialog with the founder of a company looking for a CTO for their startup. Was it a Startup Founder Developer Gap ? No Business Plan Survives First Contact With A Customer – The 5.2 billion dollar mistake. What went wrong?

Technical Review 175

Technical Review Technology Product CTO Hire 175