Startup Lessons Learned

JULY 15, 2010

Lessons Learned by Eric Ries Thursday, July 15, 2010 Some IPO speculation Inspired by Steve Blank’s post today about the “lost decade&# of IPO’s , I’d like to make some predictions. The fact that IPO’s are disappearing makes intuitive sense to me. Let me be clear: Steve is the historian.

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IPO San Francisco Lean Silicon Valley 166

Steve Blank

MARCH 18, 2011

Dot.com Bubble ( 1995-2000): “ Anything goes” as public markets clamor for ideas, vague promises of future growth, and IPOs happen absent regard for history or profitability. They taught you about customers, markets and profits. The goals were “first mover advantage,” “grab market share” and “get big fast.”

Internet 334

Internet IPO Silicon Valley Agile 334

Steve Blank

AUGUST 20, 2013

Class III devices are generally the highest risk devices and must be approved by the FDA before they are marketed. Class III medical devices that are high risk or novel devices for which no “predicate device” exist require clinical trials of the medical device a PMA (Pre-Market Approval). Venture Capital Issues. Regulatory Issues.

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Startup Venture Capital Lean IPO 294

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

ReadWriteStart

JULY 21, 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." The senior partner at the time was Bill Davidow , a marketing legend and a hero of mine who had also funded other Enterprise software companies.

Post-Money Valuation 122

Post-Money Valuation Valuation IPO Venture Capital 122

Steve Blank

JULY 15, 2010

The collapse of the IPO market and dysfunctional math in the venture capital community has stacked the odds against you. Startup lifecycle in an IPO Market. Netscape’s 1995 IPO changed the rules. Suddenly there was a public market for companies with limited revenue and no profit. Here’s why.

Venture Capital 297

Venture Capital IPO Liquidity Event Entrepreneur 297

Startup Lessons Learned

SEPTEMBER 15, 2008

The application of agile development methodologies which dramatically reduce waste and unlock creativity in product development. See Customer Development Engineering for my first stab at articulating the theory involved) Ferocious customer-centric rapid iteration, as exemplified by the Customer Development process.

Lean 168

Lean San Francisco Startup Continuous Deployment 168

Steve Blank

MAY 11, 2009

My first IPO at Convergent. This is the first way to get video into a computer, we’re going to sell and market this board like there’s no tomorrow. People who aren’t current customers of our graphics boards will get to know our company and brand. That’s every marketeers excuse for putting their kids in an ad.)

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Video Silicon Valley RSS California 164

A Smart Bear: Startups and Marketing for Geeks

OCTOBER 23, 2012

.” Here’s the summary of his track record (excerpted from the Fast Company article): Forefront — IPO’ed in 1995 by CBT — CBT stock fell 85% in 1998 and prompted class-action lawsuits. invested, IPO’ed in 2000 for $32/share — stock price now $2. from an IPO under a year ago of $10.

IPO 240

IPO Flash Bootstrapping Private Equity 240

Startup Lessons Learned

APRIL 4, 2010

► August (2) SXSW Case Study: SlideShare goes freemium ► July (4) Case Study: kaChing, Anatomy of a Pivot Some IPO speculation Founder personalities and the “first-class man&# th. The Entrepreneur’s Guide to Customer Development ► June (3) What is a startup?

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Agile Software Review San Francisco Continuous Deployment 99

Startup Lessons Learned

NOVEMBER 7, 2008

At the very least, you can plug those assumptions into your financial model, now that you have a sense for what the cost of acquiring new customers might look like. Even more importantly, you can start to experiment with feature set, positioning, and marketing - all without building a product. Eric -- This is a pretty interesting idea.

Demand 167

Demand San Francisco Lean Continuous Deployment 167

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.

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Vertical Silicon Valley RSS Marketing 122

Startup Lessons Learned

NOVEMBER 4, 2008

It is becoming easier and cheaper for companies to bring products to market, leveraging free and open source software , cloud computing, open social data (Facebook, OpenSocial ), and open distribution (AdWords, SEO). Lean startups have the ability to use this commodity stack to lower costs and, more importantly, reduce time to market.

Lean 102

Lean San Francisco Agile Continuous Deployment 102

Steve Blank

AUGUST 5, 2010

In 1980 Genentech became the first IPO of a venture funded biotech company. Finally, the “ death of the IPO &# and the emergence of the “ small market M&A &# changes Consumer Internet economics. Lean VC’s are expert in on-line distribution, Agile and Customer Development.

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Lean Internet Silicon Valley Venture Capital 258

Startup Lessons Learned

SEPTEMBER 22, 2008

Either way, you can use any marketing channel thats available to bring in new customers, including word of traditional advertising, SEO, SEM - wherever you can find prospects who are going to find your product addicting. All three probably make attempts at world-of-mouth marketing - its just that for Viral, its life-or-death.

San Francisco 167

San Francisco CPA SEM CTO Hire 167

Startup Lessons Learned

SEPTEMBER 2, 2008

► August (2) SXSW Case Study: SlideShare goes freemium ► July (4) Case Study: kaChing, Anatomy of a Pivot Some IPO speculation Founder personalities and the “first-class man&# th. The Entrepreneur’s Guide to Customer Development ► June (3) What is a startup? Seth Godin: How often should you publish?

San Francisco 94

San Francisco Continuous Deployment Agile Lean 94

Steve Blank

APRIL 13, 2013

China has essentially closed its internal search, media and social network software market to foreign companies who wouldn’t play with the government rules on the Great Firewall. This closed but very large market means that greater than 90% of Chinese software startups focus exclusively on the Chinese market.

Silicon Valley 267

Silicon Valley China Venture Capital Merger 267

Startup Lessons Learned

SEPTEMBER 12, 2008

vs. sustainable: Compare this to the renewable strategies, like viral marketing, SEO, widgets, and ads, which can scale into 10s of millions of users but are primarily centered around tough, non-user centric work. The Entrepreneur’s Guide to Customer Development ► June (3) What is a startup?

Audience 119

Audience San Francisco Continuous Deployment Lean 119

Startup Lessons Learned

JUNE 2, 2010

► August (2) SXSW Case Study: SlideShare goes freemium ► July (4) Case Study: kaChing, Anatomy of a Pivot Some IPO speculation Founder personalities and the “first-class man&# th. The Entrepreneur’s Guide to Customer Development ▼ June (3) What is a startup?

Technical Review 132

Technical Review San Francisco Lean Continuous Deployment 132

Steve Blank

JULY 25, 2011

It wasn’t pure research, but rather a culture of taking sufficient risks to get to market. So the engineers taught themselves how to become marketers, sales people and CEO’s. This all changed in 1980 with the Genentech IPO. In 1980 Genentech became the first IPO of a venture funded biotech company.

Engineer 305

Engineer Silicon Valley United States Venture Capital 305

Startup Lessons Learned

SEPTEMBER 10, 2008

► August (2) SXSW Case Study: SlideShare goes freemium ► July (4) Case Study: kaChing, Anatomy of a Pivot Some IPO speculation Founder personalities and the “first-class man&# th. The Entrepreneur’s Guide to Customer Development ► June (3) What is a startup? Seth Godin: How often should you publish?

Software Review 68

Software Review San Francisco Technical Review Continuous Deployment 68

Startup Lessons Learned

MARCH 25, 2010

► August (2) SXSW Case Study: SlideShare goes freemium ► July (4) Case Study: kaChing, Anatomy of a Pivot Some IPO speculation Founder personalities and the “first-class man&# th. The Entrepreneur’s Guide to Customer Development ► June (3) What is a startup?

Software Review 141

Software Review San Francisco Lean Continuous Deployment 141

Startup Lessons Learned

AUGUST 2, 2008

► August (2) SXSW Case Study: SlideShare goes freemium ► July (4) Case Study: kaChing, Anatomy of a Pivot Some IPO speculation Founder personalities and the “first-class man&# th. The Entrepreneur’s Guide to Customer Development ► June (3) What is a startup?

San Francisco 125

San Francisco Software Review Technical Review Continuous Deployment 125

Startup Lessons Learned

SEPTEMBER 15, 2008

I had the opportunity to pioneer this approach to funnel analysis at IMVU, where it became a core part of our customer development process. To promote this metrics discipline, we would present the full funnel to our board (and advisers) at the end of every development cycle. Check your assumptions, what went wrong?

San Francisco 166

San Francisco Lean Technical Review Continuous Deployment 166

Startup Lessons Learned

NOVEMBER 6, 2008

► August (2) SXSW Case Study: SlideShare goes freemium ► July (4) Case Study: kaChing, Anatomy of a Pivot Some IPO speculation Founder personalities and the “first-class man&# th. The Entrepreneur’s Guide to Customer Development ► June (3) What is a startup? What is customer development?

Agile 76

Agile San Francisco Software Review Continuous Deployment 76

Startup Lessons Learned

SEPTEMBER 2, 2008

► August (2) SXSW Case Study: SlideShare goes freemium ► July (4) Case Study: kaChing, Anatomy of a Pivot Some IPO speculation Founder personalities and the “first-class man&# th. The Entrepreneur’s Guide to Customer Development ► June (3) What is a startup? Seth Godin: How often should you publish?

San Francisco 142

San Francisco Continuous Deployment Lean DC 142

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. None of mine did.)

Silicon Valley 260

Silicon Valley Product Startup Product Development 260

Startup Lessons Learned

JANUARY 15, 2010

Two Ways to Hold Entrepreneurs Accountable - The Conversation - Harvard Business Review Way back when the money was doled out, the team made a compelling pitch about the large market that was going to adopt their new innovative product or service. Lets return to our team thats failing to hit their targets.

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Hockey Stick San Francisco Entrepreneur Lean 105

Startup Lessons Learned

APRIL 14, 2009

Instead, each potential customer has to go through a self-serve process of signing up and paying money. Because they have no presence in the market, they have to find distribution channels to bring in customers. What’s the total available market? What’s the ROI on acquiring new customers?

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Customer San Francisco Lean Hockey Stick 167

Startup Lessons Learned

OCTOBER 5, 2008

Lessons Learned by Eric Ries Sunday, October 5, 2008 The product managers lament Life is not easy when youre working in an old-fashioned waterfall development process, no matter what role you play. The Entrepreneur’s Guide to Customer Development ► June (3) What is a startup?

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San Francisco Management Software Review Product 158

Startup Lessons Learned

JULY 28, 2010

In the early fall of 2009, as kaChing prepared for its marketplace launch, the management team showed the app—which included real time market data, SEC-grade accounting, analytics, compliance and customer management tools—to a number of investment pros to get feedback and endorsements. Thus far the results are encouraging.

San Francisco 158

San Francisco Lean Continuous Deployment SEC 158

Startup Lessons Learned

JANUARY 7, 2010

► August (2) SXSW Case Study: SlideShare goes freemium ► July (4) Case Study: kaChing, Anatomy of a Pivot Some IPO speculation Founder personalities and the “first-class man&# th. The Entrepreneur’s Guide to Customer Development ► June (3) What is a startup?

San Francisco 119

San Francisco Management Continuous Deployment Lean 119

Startup Lessons Learned

NOVEMBER 17, 2008

Strategy - startups first encounter this when they have the beginnings of a product, and theyve achieved some amount of product/market fit. The Entrepreneur’s Guide to Customer Development ► June (3) What is a startup? What is customer development? ScienceDaily: Corporate culture is most important.

San Francisco 88

San Francisco Lean Continuous Deployment DC 88

Steve Blank

MARCH 9, 2016

We didn’t IPO it. I don’t like this place … “ … The other (mistake) was … not responding to the market and understanding how the market was changing and how quickly it was changing. It was all strategic partnerships leading to IPOs. Filed under: Customer Development , SiriusXM Radio Show.

Silicon Valley 120

Silicon Valley Cofounder Entrepreneur IPO 120

Startup Lessons Learned

JULY 30, 2009

During the same period (1987 – 1990) and I did some work at MIT under Eric von Hippel on “user driven innovation with regard to software development&# which today would probably fall under the heading of “open source software development approaches.&# No departments The Five Whys for Startups (for Harvard Business R.

Lean 68

Lean San Francisco Continuous Deployment DC 68

Startup Lessons Learned

MAY 31, 2010

When I first encountered customer development , it was considered pure lunacy by mainstream entrepreneurs and VCs. When I first encountered customer development , it was considered pure lunacy by mainstream entrepreneurs and VCs. The Entrepreneur’s Guide to Customer Development ► June (3) What is a startup?

San Francisco 133

San Francisco Lean Technical Review Software Review 133

Startup Lessons Learned

OCTOBER 28, 2008

how big is the market? Most important slide: hockey stick Micro-scale results Key questions: who is the customer, and how do you know? what is the potential market size? whos on the marketing team? can the team bring the product to market? who is the customer? can your team execute the growth plan?

San Francisco 128

San Francisco Lean Continuous Deployment DC 128