Early-stage Regional Venture Funds–part 2 of 3 of Bigger in Bend

Steve Blank

Over the years Dino and I brainstormed about how Lean entrepreneurship would affect regional development. Part 2: Early-stage Regional Venture Funds. The cloud , open-source development tools and web 2.0 What’s Missing Is Early Stage Capital.

How to do (and what to expect from) early stage customer development & sales

The Startup Toolkit

Everything I know from 4 years of intensive customer development & sales, boiled down into an 18 minutes talk I gave at HackFwd in Berlin. HD video is here , normal is embedded below. I’m pretty happy with this one and think you won’t have heard the content elsewhere.

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Raising Money Using Customer Development

Steve Blank

Unfortunately in early stage startups the drive for financing hijacks the corporate DNA and becomes the raison d’etre of the company. Chasing funding versus chasing customers and a repeatable and scalable business model, is one reason startups fail.

Being Responsive is Critical for Successful Customer Development

Instigator Blog

Most customers tolerate bugs. Most customers tolerate products with missing features that they need (or think they need!) Most customers tolerate the quirks and hiccups that come with new technology and software. This is true of early adopters, but it’s even true to some degree, of late adopters. Customers can be quite forgiving. And use those customer interactions to learn from them. Don’t wait for customers to reach out with complaints.

The evolution of early stage investing in the UK

The Equity Kicker

Two developments have changed the face of startup investing in the UK in recent years. The first development is increased capital efficiency. The second development is SEIS and EIS. I wrote the post below for Crowdcube , one of the UK’s leading equity crowdfuding sites.

Lean Innovation Management – Making Corporate Innovation Work

Steve Blank

The first time a few brave corporate innovators tried to overlay the Lean tools and techniques that work in early-stage startups in an existing corporation, the result was chaos, confusion, frustration and ultimately, failure. I’ve been working with large companies and the U.S.

Lean 154

B2B Customer Development

Market by Numbers

Market By Numbers on Twitter | Entries RSS | Comments RSS Market By Numbers High-Tech Marketing and Customer Development Home What is Customer Development? Your aim is to establish relationships inside businesses who are likely to be early adopters.

How Investors Make Better Decisions: The Investment Readiness Level

Steve Blank

While it doesn’t eliminate great investor judgment, pattern recognition skills and mentoring, we’ve developed an Investment Readiness Level tool that fills in these missing pieces. The Investment Readiness Level makes the stages of development for the business very tangible.

Bigger in Bend – Building a Regional Startup Cluster–part 1 of 3

Steve Blank

When Customer Development and the Lean Startup were just a sketch on the napkin, Dino Vendetti, a VC at Bay Partners, was one of the first venture capitalists I shared my ideas with. Over the years we brainstormed about how Lean entrepreneurship would affect regional development.

Business Development for Early Stage Startups

This is going to be BIG.

I’m a big believer that the right kind of business development deals can lead to fantastic results for a company—if planned well, appropriately simple, and executed correctly. The Standard Deal The “standard deal” is minimum viable product for business development. It’s the kind of thing you can repeat in an elevator, simple to understand , universally applicable , and, most importantly, doesn’t burden your tech team with a lot of custom development.

Vision versus Hallucination – Founders and Pivots

Steve Blank

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. I got to spend time inside his company while I was using their software to analyze early-stage ventures.

Engineering a Regional Tech Cluster-part 3 of 3 of Bigger in Bend

Steve Blank

Over the years Dino and I brainstormed about how Lean entrepreneurship would affect regional development. Part 2: Early-stage Regional Venture Funds. Local Early-Stage Risk Capital. Early stage venture funds are more important than your mother.

How We Fight – Cofounders in Love and War

Steve Blank

Entrepreneurship and early stage companies are about moving fast; if you’re caught in a disagreement for days at a time it means decisions are not being made and/or people are walking around feeling resentful. Filed under: Customer Development , Family/Career/Culture.

Blowing up the Business Plan at U.C. Berkeley Haas Business School

Steve Blank

Berkeley were heavily funded to develop Cold War weapon systems. Starting in the 1950’s, Stanford’s engineering department became “outward facing” and developed a culture of spinouts and active faculty support and participation in the first wave of Silicon Valley startups. At the same time Berkeley was also developing Cold War weapons systems. Traction and evidence from customers were what investors were looking for – even in “slow” sectors like healthcare and energy.

Why Lean May Save Your Life – The I-Corps @ NIH

Steve Blank

110 researchers and clinicians, and Principal Investigators got out of the lab and hospital, and talked to 2,355 customers, tested 947 hypotheses and invalidated 423 of them. gather data essential to customer partnerships/collaboration/purchases before doing the science.

Lean 113

Entrepreneurship is an Art not a Job

Steve Blank

Over the last decade we assumed that once we found repeatable methodologies (Agile and Customer Development , Business Model Design) to build early stage ventures, entrepreneurship would become a “science,” and anyone could do it.

Reinventing Life Science Startups – Medical Devices and Digital Health

Steve Blank

Early stage Venture Capital for medical device startups has dried up. Some startups in this field are actually beginning with Customer Development while others struggle with the classic execution versus search problem.

A New Way to Teach Entrepreneurship – The Lean LaunchPad at Stanford: Class 1

Steve Blank

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. Startups, are not about executing a plan where the product, customers, channel are known.

Entrepreneurs are Everywhere Show No. 23: Nina Tandon and Brandon McNaughton

Steve Blank

A tech entrepreneur and inventor, Brandon McNaughton was entrepreneur in residence for Detroit Innovate , an early-stage venture fund. what matters more is the … the customer’s problem. … What you need is to understand the problem to know what do deliver to the customer.

Job Titles That Can Sink Your Startup

Steve Blank

I had coffee with an ex student earlier in the week that reminded me yet again why startups burn through so many early VP’s. I thought our new Sales VP would be out in front helping us lead Customer Validation and help us find the Pivot. a well-understood group of customers.

Entrepreneurs are Everywhere Show No. 18: Sarah Calhoun and Steve Sims

Steve Blank

The same year, President Obama invited her to attend a White House forum on jobs and economic development, and she was named Montana’s Entrepreneur of the Year. I held onto that (maxim) from an early stage, and it worked well for me. Customer Development SiriusXM Radio Show

The Difference Between Stealth Mode and Quiet Mode

Instigator Blog

Worse still, startups that are in stealth mode rarely talk to customers, prospects, users, partners or anyone else before their big reveal, which means they have little to no validation for what they’re doing. You need to find a way of getting to customers, talking to the right people, and validating (or more likely invalidating ) what you’re doing. They’re actively talking to customers– daily in fact –and collecting tons of feedback.

Stanford 2012 Lean LaunchPad Presentations – part 1 of 2

Steve Blank

The class is intensely and deliberately experiential to develop the mindset, reflexes, agility and resilience an entrepreneur needs to search for certainty in a chaotic world. The EngineKites customer discovery narrative blog is here. The Sync customer discovery narrative blog is here.

Lean 93

China’s Torch Program – the glow that can light the world (Part 2 of 5)

Steve Blank

The early clusters occurred by happenstance of geography or history. In recent years Business Incubators have developed into diverse models. Filed under: China , Customer Development , Technology , Venture Capital. China Customer Development Technology Venture Capital

China 80

When do I *stop* doing customer interviews and start writing code?

A Smart Bear: Startups and Marketing for Geeks

Here are the details of both of those customer development experiences. Recently at WP Engine I did some brand new customer development for a new project that we think will revolutionize WordPress blog management. Way #2: Get ten paying customers.

Tune In, Turn On, Drop Out – The Startup Genome Project

Steve Blank

Max and his partners interviewed and analyzed over 650 early-stage Internet startups. Today they released the first Startup Genome Report — a 67 page in-depth analysis on what makes early-stage Internet startups successful. longer to reach scale stage compared to a founding team of 2 and they are 2.3x They tend to lose the battle early on by getting ahead of themselves. Filed under: Customer Development , Teaching , Venture Capital.

Lessons Learned: Don't launch

Startup Lessons Learned

Lessons Learned by Eric Ries Friday, March 13, 2009 Dont launch Heres a common question I get from startups, especially in the early stages: when should we launch? Marketing launch) Make a new product available to customers in the general public. In particular, a marketing launch can help you do three things (courtesy, as is most of my marketing advice, of The Four Steps to the Epiphany ): Drive customers into your sales pipeline. Do some Customer Development instead.

How I Hack Customer Development When I Can’t Get Interviews

Kevin Dewalt

Summary : Face-to-face interviews are the lifeblood of early-stage Customer Development, but sometimes even personal introductions are not enough to get meetings if we don’t know people in the market. My only experience is as a potential startup customer.

The Customer Development Manifesto: The Startup Death Spiral (part.

Steve Blank

This post describes how following the traditional product development can lead to a “startup death spiral.&# In the next posts that follow, I’ll describe how this model’s failures led to the Customer Development Model – offering a new way to approach startup sales and marketing activities. Three to six months after first customer ship, if Sales starts missing its numbers, the board gets concerned. Part 4 of the Customer Development Manifesto to follow.

The National Science Foundation Innovation Corps – What America Does Best

Steve Blank

63 scientists and engineers in 21 teams made ~ 2,000 customer calls in 10 weeks , turning laboratory ideas into formidable startups. If we’re correct, we can compress the time for commercializing scientific breakthroughs and reduce the early stage risks of these new ventures.

It’s Not How Big It Is – It’s How Well It Performs: The Startup Genome Compass

Steve Blank

Max and his partners had interviewed and analyzed over 650 early-stage Internet startups. In May they released the first Startup Genome Report — an in-depth analysis on what makes early-stage Internet startups successful. What makes startups succeed or fail?

A Day in the Life of Your Customer

Instigator Blog

To sell something effectively you really need to understand your customer. You can look into customer profiling and personas as mechanisms for understanding your customers better. How and when your product will be used by your customers is critical. Customer Development

Entrepreneurs are Everywhere Show No. 38: Ryan Smith and Lane Merrifield

Steve Blank

If you don’t value your product neither will your customers. Values – who and what founders and customers hold dear – were the focus on today’s Entrepreneurs are Everywhere radio show. In the early days of building Qualtrics, Ryan tried giving the product away to entice customers to use it. — Finding early customers for Qualtrics was difficult, Ryan says. Ironically, though, academics are horrible customers.

Entrepreneurs are Everywhere Show No. 39: Jeremy Johnson and Michael Eidsaune

Steve Blank

Before founding 2U, Jeremy developed Zinch, intended to be a virtual guidance counselor to help low-income students navigate the college application process. — An experienced team made all the difference to 2U finding success, Jeremy said: We had a phenomenal early group of people that were brought together to try to address the problem. You might look at it and say, “In some ways, that team is overkill for an early-stage company.

Entrepreneurs are Everywhere show No. 4: David Lerner and Gary Marcus

Steve Blank

He is also an adjunct professor of entrepreneurship at Columbia Business School , and an angel investor hailed as one of New York City’s top 100 early-stage investors. Tune in Thursday at 1 pm PT, 4 pm ET on Sirius XM Channel 111 Filed under: Customer Development.

Entrepreneurs are Everywhere Show No. 21, Part 1: Kathy Ku and Orin Herskowitz

Steve Blank

— As executive director Stanford University’s Office of Technology Licensing , Kathy Ku oversees the licensing of Stanford-developed technologies. She took a break from Stanford in 1990 and 1991, as VP of business development at Protein Design Labs , Inc.

Video of My Internet Week Session on Early Stage Entrepreneurship

Vinicius Vacanti

Home About Contact Me How To Make It as a First-Time Entrepreneur Vinicius Vacanti Video of My Internet Week Session on Early Stage Entrepreneurship June 14, 2010 | View Comments On Thursday, Owen Davis of SeedStart invited Amol Sarva , from Peek , and me to answer some questions on early stage entrepreneurship.

Bob Dorf, co-author startup owner’s manual, Customer development: the science of acceleration for growth businesses

Business of Software Blog

Understanding the Customer Development Process. The other half of the job is figuring out who your customers are going to be, what’s going to make them excited and ecstatic and come back again and again and again, and tell their friends and so forth.

Lessons Learned in Therapeutics

Steve Blank

Doctors, researchers and Principal Investigators in this class got out of the lab and hospital talked to 2,355 customers, tested 947 hypotheses and invalidated 423 of them. Part 4: This Will Save us Years – Customer Discovery in Medical Devices.

Nokia as “He Who Must Not Be Named” and the Helsinki Spring

Steve Blank

You find early stage employees expecting to work normal hours, to get paid a regular salary, and not asking or expecting equity. Filed under: Business Model versus Business Plan , Customer Development , Teaching , Venture Capital. Business Model versus Business Plan Customer Development Teaching Venture CapitalI was invited to Finland as part of Stanford’s Engineering Technology Venture Program partnership with Aalto University.