David Teten

SEPTEMBER 6, 2018

Most of my research is also relevant to private equity. Just as with any company, the most important issue is the team; see “ How to Negotiate a Partner Role at a Venture Capital or Private Equity Firm “ . See How Private Equity and Venture Capital Investors Are Eating Their Own Dogfood. . 3) Raise capital.

Technical Review 60

Technical Review Private Equity Management Cap Table 60

Steve Blank

OCTOBER 10, 2011

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. There isn’t much of a killer instinct among the masses.

Finland 324

Finland Naming Russia Government 324

Feld Thoughts

NOVEMBER 18, 2013

Here’s the punchline: if you run your company as if you have closed a VC equity financing round even though you actually closed a convertible debt round, you’ll be in much better shape when it comes time to raise your Series A financing. So why would you treat your debt investors (somewhat) like equity investors?

Burn Rate 152

Burn Rate Equity Software Review Early Stage 152

Steve Blank

OCTOBER 7, 2011

At Tekes, government employees (and their hired consultants) – with no equity, no risk or reward, no startup or venture capital experience – try to pick startup winners and losers. Filed under: Business Model versus Business Plan , Customer Development , Teaching , Technology , Venture Capital.

Finland 324

Finland Venture Capital Government Russia 324

www.instigatorblog.com

OCTOBER 23, 2010

Changing Equity Structures for Early Startup Employees Tweet Recently someone asked me for advice on how much equity they should give to their early employees. 1% but they’re not going to be overwhelmed by it, or insanely incentivized by that equity alone. I do believe that early employees should trade salary for equity.

Equity 41

Equity Employee Startup Vesting 41

The Equity Kicker

SEPTEMBER 24, 2014

I wrote the post below for Crowdcube , one of the UK’s leading equity crowdfuding sites. Two developments have changed the face of startup investing in the UK in recent years. The first development is increased capital efficiency. It went up on their blog yesterday. _.

Early Stage 119

Early Stage Development Team Review Technical Review Software Review 119

The Equity Kicker

MARCH 3, 2014

When I started with Forward Partners I went out to speak with a bunch of our target customers, entrepreneurs, and I learned a bunch of stuff which helped shape our strategy of empowering great entrepreneurs with minority stake investments and real-world useful help – but I’d have learned much more if I’d read this book first.

Customer Development 94

Customer Development Developer Customer Hosting 94

Steve Blank

APRIL 14, 2013

Even though they’re next to Zhongguancun, the hottest place for startups in China, there seems to be a lower appetite for risk, a lack of interest in equity (instead optimizing for a high salary) and very little loyalty to any one company. Filed under: China , Customer Development , Technology , Venture Capital.

China 323

China Silicon Valley Non-Compete Intellectual Property 323

YoungUpstarts

OCTOBER 24, 2012

Nearly four in five CEOs complained that CMOs can’t explain how brand equity can be linked to recognized financial measures such as firm equity. A bitter pill for mainstream marketing executives, perhaps, but you can hardly blame the disgruntled CEOs when you consider the logic behind traditional marketing in light of today’s world.

Marketing 234

Marketing Software Review Technical Review Social Network 234

Hunter Walker

FEBRUARY 20, 2021

You don’t even need to do anything and we’ll give you equity. It doesn’t have to be a huge commitment on their part (or significant equity), but just start giving them some tie to your startup and some incentive to maintain the relationship. Advisors can be so much more than social proof and tactical advice.

Advisory Board 150

Advisory Board Equity Vesting Startup 150

Steve Blank

JUNE 12, 2020

This was followed by an 8-minute slide presentation describing their customer discovery journey over the 10-weeks. All the teams used the Mission Model Canvas , (videos here ) Customer Development and Agile Engineering to build Minimal Viable Products, but all of their journeys were unique.

Oakland 301

Oakland Asia Lean Video 301

David Teten

MARCH 28, 2012

This study is effectively a sequel to the study David Teten led with Chris Farmer of General Catalyst on best practices of venture capital and private equity funds in originating new deals , published in Journal of Private Equity , Harvard Business Review , Institutional Investor , etc.

Portfolio 144

Portfolio Private Equity Venture Capital Early Stage 144

Steve Blank

APRIL 14, 2013

Even though they’re next to Zhongguancun, the hottest place for startups in China, there seems to be a lower appetite for risk, a lack of interest in equity (instead optimizing for a high salary) and very little loyalty to any one company. Filed under: China , Customer Development , Technology , Venture Capital.

China 215

China Silicon Valley Non-Compete Intellectual Property 215

Steve Blank

NOVEMBER 27, 2012

customer development. Some general customer development slides click here. Called “ How to Build a Startup: The Lean LaunchPad ,” it walks you through the Business Model Canvas and an overview of the customer development process. agile engineering. Berkeley presentations, lectures and syllabus here.

Open Source 335

Open Source Silicon Valley Lean Customer Development 335

Steve Blank

JUNE 11, 2009

However, you will be dealing with almost daily change, (new customer feedback/insights from a Customer Development process and technical roadblocks ,) as the company searches for a repeatable and scalable business model. This means you still need to have a resilient personality, and be agile. You’re not joining a big company.

Cofounder 219

Cofounder Founder Silicon Valley Technical Cofounder 219

Steve Blank

SEPTEMBER 14, 2009

3) invest in and take equity stakes in exchange for capital. Each VC firm/partner has a different spin on what to weigh more.) 4) help nurture and grow the companies they invest in. 5) liquidate their investment in each company at the highest possible price.

Silicon Valley 217

Silicon Valley IPO Technical Review Venture Capital 217

ReadWriteStart

OCTOBER 13, 2011

Steve Blank is a retired serial entrepreneur, educator, thought leader and creator of the rigorous "Customer Development" methodology detailed in his book, "The Four Steps to the Epiphany." Blank teaches entrepreneurship at Stanford University and UC Berkeley and blogs at steveblank.com.

Finland 158

Finland Venture Capital Government Russia 158

Steve Blank

JUNE 4, 2012

This is a 3-day program for entrepreneurship faculty from around the world how to teach entrepreneurship via the Lean LaunchPad approach ( business model canvas + customer development ) and bring their entrepreneurship curriculums into the 21st century. Filed under: Customer Development , Lean LaunchPad , Teaching.

Silicon Valley 305

Silicon Valley Lean Utah Customer Development 305

blog.aparttimecto.com

OCTOBER 23, 2010

Flexibility - You won’t need to commit to something, either cash, equity or involving other people, upfront. Cons: Money - Unless you have cash to pay, the pool of developers willing to work for equity is small. Access - Good developers are tough to find. Cons: Cost - Most development shops work on a cash basis.

CTO Hire 40

CTO Hire Fractional CTO Equity Vesting 40

Steve Blank

JANUARY 20, 2014

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. Founders Pad. Bend needed its own venture firm.

Silicon Valley 312

Silicon Valley Oregon Lean Venture Capital 312

Steve Blank

APRIL 12, 2013

Fast forward a decade, today the Private Equity and Venture Capital business is booming in China with over 1000 firms actively investing. Filed under: China , Customer Development , Technology , Venture Capital. China Customer Development Technology Venture Capital' Investing in China Today.

Venture Capital 271

Venture Capital China Offshore SBIR 271

Steve Blank

OCTOBER 26, 2013

The program pays scientists $50,000 to attend the program and takes no equity. It’s curriculum is built on a framework of business model design, customer development and agile engineering – and its emphasis on evidence, Lessons Learned versus demos, makes it the worlds most advanced accelerator. in Science or Nature.

Lean 262

Lean Washington Incubator Agile 262

David Teten

APRIL 8, 2013

My coauthors and I just published in the Journal of Private Equity the first-ever research study on best practices of venture capitalists in creating portfolio company value through operational support, exploring exactly these questions. Some $246b of private equity was invested globally in 2011, vs. VC at around $20b a year.

Private Equity 114

Private Equity Hungary IRR Venture Capital 114

The Equity Kicker

MARCH 26, 2018

In our experience, structured customer development work is right up there amongst the most valuable things a founder can do in the early days of their startup. Once you have an idea that feels strong, it’s imperative to speak with customers about it. But good customer development is tough to do.

Customer 75

Customer Framework Differentiation Customer Development 75

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. existing enterprises are establishing corporate innovation groups.

IRR 335

IRR Startup Business Model Agile 335

Steve Blank

DECEMBER 30, 2014

They add mentors and additional services and some offer free space in exchange for equity. Accelerators take teams with fairly focused ideas and offer a formal 3-4 month program of tutoring/mentoring with seed funding in exchange for equity. Incubators are designed for teams with an idea.

San Diego 261

San Diego North Carolina Chicago Lean 261

Steve Blank

APRIL 12, 2013

Fast forward a decade, today the Private Equity and Venture Capital business is booming in China with over 1000 firms actively investing. Filed under: China , Customer Development , Technology , Venture Capital. China Customer Development Technology Venture Capital' Investing in China Today.

Venture Capital 163

Venture Capital China Offshore SBIR 163

Steve Blank

JUNE 2, 2011

A revolution has taken hold as customer development and agile engineering reinvent the Startup process. The process they use to guide their search is customer development. They would: Blog their Customer Development progress as a narrative. Weekly blog of the customer development narrative.

Silicon Valley 281

Silicon Valley Business Model Early Stage Venture Capital 281

The Startup Lawyer

MARCH 17, 2012

Even if a startup compensates the dev shop with equity or cash + equity, the amount of equity will not likely be enough to get the dev shop to devote the time, effort, and TLC that a true technical co-founder would. Most of these early “partnerships” never work, regardless of how the startup compensates the dev shop.

Cofounder 92

Cofounder Vesting Equity Agile 92

Steve Blank

JULY 2, 2015

Prior to that, he worked for the Industrial Bank of Japan and General Electric specializing in deliberative trading, private equity investment, and post merger integration. Takashi and Masato founded Learning Entrepreneur’s Lab (LEL) in 2014.

Channel 120

Channel Japan Bosnia Silicon Valley 120

Startup Lessons Learned

MAY 14, 2009

Unlike other incubator-led programs, this workshop is open to anyone who wants to learn, and it does not require companies take investment or give out equity. Im working on a future post where Ill share the details of how I used customer development to shape both the content and packaging of this event, so look for that soon.

Lean 60

Lean San Francisco Continuous Deployment Software Review 60

David Teten

OCTOBER 1, 2015

Not surprisingly, the list above also is ranked from least to most equity stake in an investment for the investor, relative to the cash they invest. How would one set up such a startup to eventually raise capital from outside VCs, who will be wary of ‘dead equity’ (i.e., equity that belongs to departed cofounders)? The cliffs?

Software Developers 60

Software Developers Software Development Software Review Technical Cofounder 60

Steve Blank

APRIL 11, 2013

Set up in 1999, Innofund offers grants ($150 – $250K), loan interest subsidies and equity investment. Filed under: China , Customer Development , Technology , Venture Capital. China Customer Development Technology Venture Capital' The best analog for China’s InnoFund is the U.S.

Programming 278

Programming Technical Review SBIR China 278

Spencer Fry

APRIL 17, 2017

With no money, how do you expect to have great design, engineering, copy, marketing, content marketing, customer service, operations, and everything else that comes along with running a successful startup. How much and at what terms, is up to the deal you strike with your investors, but you can’t take money without giving away equity.

Bootstrapping 63

Bootstrapping Cap Table Liquidation Preference Cofounder 63

ReadWriteStart

JUNE 15, 2011

The process they use to guide that search is "Customer Development" ; and to track their progress startups now have a scorecard to document their week-by-week changes – the business model canvas. They would: Blog their Customer Development progress as a narrative. What Does This Change? We Ran the Experiment.

Silicon Valley 118

Silicon Valley Startup Early Stage Business Model 118

A Smart Bear: Startups and Marketing for Geeks

OCTOBER 23, 2012

After all, before the house of cards inevitably tumbles, private equity investors get a tidy return. And the same thing happened after we sold IT WatchDogs in 2005. The crap of it is, those VC’s who continue to invest in Nguyen are acting rationally. Nguyen knows how to keep the magic going long enough for the payday. And it is magic.

IPO 240

IPO Flash Bootstrapping Private Equity 240

www.instigatorblog.com

MARCH 2, 2010

This is typically done with a small piece of equity. lol [link] Ben Yoskovitz @Zack: You don’t necessarily have to pay your Advisory Board with money – generally you compensate with equity. A Few Quick Tips on Advisory Boards A few additional thoughts: Compensation. You will most likely have to compensate board members.

Advisory Board 40

Advisory Board Startup Cofounder Equity 40