Steve Blank

AUGUST 31, 2009

After 20 years of working in startups, I decided to take a step back and look at the product development model I had been following and see why it usually failed to provide useful guidance in activities outside the building – sales, marketing and business development. So what’s wrong the product development model?

Customer Development 244

Customer Development Developer Customer Silicon Valley 244

ReadWriteStart

NOVEMBER 12, 2022

As the global economic situation deteriorates amid the Russian invasion of Ukraine and soaring energy costs, many aspiring entrepreneurs might be tempted to give up and wait for better days. Frugal innovation has its roots in the developing world, where resource constraints have always necessitated a more creative approach to problem-solving.

Startup 198

Startup Technical Review Ghana Guerilla 198

Startup Professionals Musings

APRIL 13, 2015

Angel investors and venture capitalists are looking for startups with real products and a proven business model, ready to scale. Yet I still get too many business plans that clearly are looking for money to do research and development (R&D) on a new and unproven technology. Business commercialization.

Product Development 120

Product Development Developer Product Angel Investor 120

Up and Running

MARCH 17, 2022

Many business owners know and understand the value of a business plan. The business plan is a key component of the startup and fundraising process and serves as a foundation for your organization. What is a business plan? It lays out who is running the business and what the business does.

Business Plan 145

Business Plan Operations Lean Forecast 145

Startup Professionals Musings

OCTOBER 2, 2023

Angel investors and venture capitalists are looking for startups with real products and a proven business model, ready to scale. Yet I still get too many business plans that clearly are looking for money to do research and development (R&D) on a new and unproven technology. Business commercialization.

Angel Investor 256

Angel Investor Early Stage Incubator Government 256

The Startup Magazine

JUNE 17, 2021

In that case, it is worth thinking about the many benefits that further online business education has to offer you and your company. The journey to success often requires consistent self-development, an area that an advanced qualification can help you thrive. This is a factor that can be improved upon through the lens of education.

Analytics 176

Analytics Technical Review Social Media Software Review 176

Steve Blank

SEPTEMBER 5, 2018

Startups wrote business plans, generated expansive 5-year forecasts and executed (hired, spent and built) to the plan. First Movers” didn’t understand customer problems or the product features that solved those problems (what we now call product-market fit). The result? Carpe Diem – Seize the Cash.

Lean 335

Lean Burn Rate Startup IPO 335

Startup Professionals Musings

MARCH 17, 2014

Serious investors expect founders to have their homework done before the first interaction – documented executive summary, business plan, and financial model. Product development. For a great idea person, the product details keep changing for the better, but nothing ever gets finished. Customer retention.

Technical Review 270

Technical Review Startup Software Review Retention 270

Startup Professionals Musings

JANUARY 18, 2021

Angel investors and venture capitalists are looking for startups with real products and a proven business model, ready to scale. Yet I still get too many business plans that clearly are looking for money to do research and development (R&D) on a new and unproven technology. Business commercialization.

Early Stage 412

Early Stage Angel Investor Incubator Government 412

Up and Running

MARCH 24, 2021

If you’re looking to start or expand your business, you need to have a firm understanding of how to enter and grow within your chosen market. This requires you to take what you’ve learned during your market analysis to develop a market penetration strategy for your business. Market penetration definition.

Software Review 146

Software Review Marketing Campaign Forecast 146

Steve Blank

MAY 9, 2017

Defense and Intelligence organizations drove the pace of innovation in Silicon Valley by providing research and development dollars to universities, and defense companies built weapons systems that used the Valley’s first microwave devices and semiconductor components. This might mean competing with and if necessary killing your own products.

Restful 243

Restful Silicon Valley Puerto Rico San Jose 243

Startup Professionals Musings

JANUARY 16, 2013

Serious investors expect founders to have their homework done before the first interaction – documented executive summary, business plan, and financial model. Product development. For a great idea person, the product details keep changing for the better, but nothing ever gets finished. Customer retention.

Entrepreneur 275

Entrepreneur Technical Review Software Review Retention 275

Gust

APRIL 27, 2014

Software Development Process via Wikipedia. Even when your startup is a one-man show and lots of fun, a “business” needs some discipline and controls to keep it from being defined as a hobby by investors, and assure some financial return. Develop your business plan. Product development process.

Startup 187

Startup Institutional Investors Angel Investor Bootstrapping 187

Up and Running

JANUARY 24, 2023

But, if you’re just starting out or are working on a business plan for a new idea, you probably don’t have anyone on the payroll yet and maybe don’t even know what your staffing plans are. Think about your business, who will help you operate it, and when you’ll likely hire them.

Forecast 84

Forecast Cost Salary Employee 84

Startup Professionals Musings

MAY 4, 2016

Of course, that’s both the good news and the bad news for aspiring entrepreneurs, since it means more competition, and the business landscape is changing faster than ever. But for founders who do their homework, the cost of entry is lower and the opportunity is higher than ever. The cost of social media done well is low.

Intellectual Property 120

Intellectual Property Startup Angel Groups Social Media 120

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

Startup Lessons Learned

NOVEMBER 8, 2008

Lessons Learned by Eric Ries Saturday, November 8, 2008 What is customer development? When we build products, we use a methodology. Steve Blank has devoted many years now to trying to answer that question, with a theory he calls Customer Development. a roadmap for how to get to Product/Market Fit." Theory of market types.

Customer Development 168

Customer Development Developer San Francisco Customer 168

Steve Blank

MAY 6, 2015

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. Waterfall Development was all about execution of the requirements document.

Lean 120

Lean Agile Business Model Customer Development 120

The Startup Magazine

OCTOBER 19, 2020

Capturing and analyzing data enables companies to get insights that benefit their companies in cost-saving, relevant marketing, product development, etc. With appropriate data analytics, a business can predict and comprehend the market, competition, customer demands, etc.

Technical Review 155

Technical Review Forecast Analytics Social Media 155

YoungUpstarts

MAY 23, 2018

There are a lot of costs associated with getting a new business up and running, and it’s to be expected that a new business might take some time to turn a profit, but it’s common for founders to progress with optimism and expect fortunes to turn without having a clear plan and timeline for exactly how and when they will be turning a profit.

Due Diligence 133

Due Diligence Startup Finance Leadership 133

Startup Professionals Musings

APRIL 3, 2016

It’s important to learn from your own mistakes, but it’s even smarter to learn from someone else’s mistakes, without paying their high price in time lost, cost, and pain. In that spirit, I offer my perspective on ten common startup failure sources that rarely get admitted by entrepreneurs: Choose to skip the written business plan.

Intellectual Property 120

Intellectual Property Startup Angel Investor Viral 120

Business Plan Blog

AUGUST 20, 2013

Web Development Firm hired to do “Conceptualization Phase” – This usually includes thorough wire-framing (Paid per project). Many entrepreneurs think they can bypass this team member by simply going to a web development firm and asking for a free proposal. This will allow you to estimate costs and timeline.

CTO Hire 55

CTO Hire Fractional CTO Architecture Cofounder 55

The Startup Magazine

MARCH 7, 2024

Plan Long Term It seems obvious that every company should have a business plan, yet experiencing sudden growth can affect these plans and too many entrepreneurs are eager to leap ahead without considering how it could affect the business. You have a detailed plan for what to do and you can stick to it.

Startup 114

Startup Forecast Social Media Cost 114

YoungUpstarts

MAY 3, 2017

From product development to market research, many startups are one-person operations in their early days. Even as their teams grow, entrepreneurs often feel that they must tend to every aspect of the business, including low-level tasks that distract from revenue-generating activity. Wearing Your Many Hats With Style.

Technical Review 113

Technical Review Management Arizona Software Review 113

Startup Professionals Musings

DECEMBER 15, 2010

Serious investors expect founders to have their homework done before the first interaction – documented executive summary, business plan, and financial model. Product development. For a great idea person, the product details keep changing for the better, but nothing ever gets finished. Customer retention.

Entrepreneur 237

Entrepreneur Technical Review Software Review Retention 237

Startup Professionals Musings

APRIL 1, 2015

It’s important to learn from your own mistakes, but it’s even smarter to learn from someone else’s mistakes, without paying their high price in time lost, cost, and pain. In that spirit, I offer my perspective on ten common startup failure sources that rarely get admitted by entrepreneurs: Choose to skip the written business plan.

Intellectual Property 120

Intellectual Property Angel Investor Viral Distribution 120

Startup Professionals Musings

FEBRUARY 13, 2013

Typically they can be used to fund product development and commercialization that would otherwise require outside investors. A good place to start looking is the Small Business Innovation Research (SBIR) program, which is a lifeline for high-tech startups. Professional help costs money.

Government 230

Government Equity Cost SBIR 230

Up and Running

JULY 19, 2016

It’s about what your business does for people that other businesses don’t do. See Also: Business Planning Guide. I’m not sure where this classic positioning statement template started, or whom to credit, but I’ve found it very useful for years of developing business plans. Positioning diagrams.

Business Plan 60

Business Plan Developer Marketing Social Media 60

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

YoungUpstarts

NOVEMBER 20, 2019

On the other hand, if you arrive at a VC pitch without a comprehensive understanding of the industry you’re hoping to compete in, or without a clear path to profitability or a thoughtful product-development road map, you’ll likely leave empty-handed. Do you lack the skills needed to develop a viable product?

Technical Review 140

Technical Review Due Diligence Early Stage Differentiation 140

The Startup Magazine

FEBRUARY 21, 2022

That is a 40% increase in value from the market’s 2018 frozen food business valuation of $260 billion. The rise in its value is directly related to the increasing demand for frozen food products. The trend is more common in developing countries, but developed countries too are contributing to this growth. Final Thoughts.

Valuation 156

Valuation Demand Business Plan Social Media 156

Up and Running

SEPTEMBER 6, 2016

To create this first year in business checklist, I turned to our in-house experts here at Palo Alto Software: Sabrina Parsons, CEO; Noah Parsons, COO; Josh Cochrane, Vice President of Product Development; and Josh Fegles, Academic and Government Channel Sales Director, and founder of gluten-free cookie company Jude’s Foods.

Forecast 60

Forecast Software Review Lean Finance 60

Up and Running

DECEMBER 22, 2015

I have to admit, I’ve seen some judges of graduate-level business plan competitions care about IRR, but never an actual angel investor during actual due diligence. Please, get a clue: Real businesses usually turn out net profits in single digits, and only rarely up as high as 20%. Product businesses usually can.

Angel Investor 60

Angel Investor IRR Software Review Startup 60

YoungUpstarts

JUNE 6, 2018

In today’s rough-and-tumble startup scene, “lean” is all the rage, and the ability to cut costs without compromising performance is prized above virtually any other managerial competency. Of course, cutting costs and eliminating whole expense categories are two very different matters. Creating a Business Plan.

CPA 124

CPA Bandwidth Lean Startup 124

Hearpreneur

SEPTEMBER 25, 2022

Businesses that clearly define their short-term and long-term goals tend to achieve their goals faster and more efficiently than those without any plan. Besides the general focus on customer and product development, an entrepreneur should foresee the next moves that will serve to guide him on the right path.

Forecast 128

Forecast Artificial Inteligence Entrepreneur Technical Review 128

Up and Running

JUNE 14, 2017

Some believe in the all-in approach to product development: build an advanced app. An entrepreneur can quantitatively test potential buyers’ real intentions and develop a genuine understanding their needs before building out the product (app). Demand Validation: How to Find Out If Customers Want to Buy Your Product.

Technical Review 96

Technical Review Distribution Redemption Demand 96

Up and Running

MAY 23, 2016

Step 1: Start with a lean plan. Instead of sitting down to write a 40-page business plan, start with a one-page pitch. It’s the fastest way to get your idea onto paper, and it’s the very first step in the lean planning process, which is much easier and more iterative than traditional business planning methods.

Software Review 74

Software Review Software Delaware Forecast 74