Steve Blank

SEPTEMBER 5, 2018

Reading the NY Times article “ Jeffrey Katzenberg Raises $1 Billion for Short-Form Video Venture, ” I realized it was time for a new startup heuristic: the amount of customer discovery and product-market fit you need to find is inversely proportional to the amount and availability of risk capital. IPOs dried up.

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Lean Burn Rate Startup IPO 335

Steve Blank

MAY 11, 2009

And I got to experience a type of customer buying behavior I had never seen before – the Novelty Effect. But the team believed adding video as an integral part of an operating system and user experience (where there had only been text and still images) would be transformative. The software was idiot proof.

Video 164

Video Silicon Valley RSS California 164

Steve Blank

NOVEMBER 23, 2009

The Times Square Strategy discussion I had with Eric Ries , was still top of mind, so instead of my standard Customer Development lecture , I offered my thoughts on: the origin of Customer Development, where we are today, and where does Customer Development go, and how you can help get it there.

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Customer Development Developer Silicon Valley Customer 212

Steve Blank

SEPTEMBER 14, 2009

Over the same 30 years, Venture Capital firms have honed their skills and strategies to match Wall Streets needs to achieve liquidity for their portfolio companies. One of the biggest mistakes entrepreneurs make is misunderstanding the role of venture capital investors. What Do VC’s Do?

Silicon Valley 217

Silicon Valley IPO Technical Review Venture Capital 217

Both Sides of the Table

JUNE 8, 2010

Greycroft is Alan’s venture capital firm that recently raised its second fund ($130 million) with offices in both New York and LA. We’re here for Greycroft’s CEO Summit – a gathering of the CEO’s of their portfolio companies with guest speakers covering topics including how to build your team, PR, customer development, etc.

PR 279

PR Technical Review Portfolio Customer Development 279

Steve Blank

FEBRUARY 23, 2009

I was consulting for the two venture capital firms who between them put $12 million into my last failed startup. Yet when I talked to my venture capital friends, they said, “Well, that’s just how startups work. We’ve managed startups like this forever; there is no other way to manage them.” Blog at WordPress.com.

Silicon Valley 125

Silicon Valley RSS Venture Capital Customer Development 125

Steve Blank

SEPTEMBER 17, 2009

This post describes a solution – the Customer Development Model. In future posts I’ll describe how Eric Ries and the Lean Startup concept provide the equivalent model for product development activities inside the building and neatly integrates customer and agile development.

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Customer Development Developer Customer Silicon Valley 242

Steve Blank

SEPTEMBER 3, 2009

This post describes how the traditional product development model distorts startup sales, marketing and business development. This post describes how the traditional product development model distorts startup sales, marketing and business development.

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Customer Development Developer Customer Silicon Valley 215

Steve Blank

MARCH 19, 2009

Now with a new infusion of $8 million dollars of venture capital, SuperMac had been resurrected from the dead and was attempting to restart. Yet two smart VC firms, Sigma and Matrix Partners, realized that somewhere in this mess there was value. Their guess was that they would find value in the high margin graphics business.

Silicon Valley 146

Silicon Valley Software Review Technical Review RSS 146

Steve Blank

MAY 1, 2009

The Customer Development talk can be seen here. It starts at ~40:30 in the video. That said I will be giving a Customer Development talk at TIECON , Saturday May 16th, 1:30 thanks for asking. steve Customer Development is Hard. Thanks to Dave McClure and Leonard Speiser for the opportunity to speak.

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Customer Development Developer Silicon Valley Customer 139

SoCal CTO

JUNE 9, 2010

Draw Your Ideas - A VC : Venture Capital and Technology , May 16, 2010 I saw Jack Dorsey give this talk at The 99% Conference last month. The video is only 16 minutes long and it is well worth the time. They’re deep into Customer Development ,” he said. Tesla is not. It's a great talk. Your Process Doesn’t Work.

Fractional CTO 248

Fractional CTO Startup Venture Capital Cofounder 248

Steve Blank

NOVEMBER 5, 2009

Chasing funding versus chasing customers and a repeatable and scalable business model, is one reason startups fail. Product Development – Getting Funded as The Goal In a traditional product development model, entrepreneurs come up with an idea or concept, write a business plan and try to get funding to bring that idea to fruition.

Customer Development 262

Customer Development Developer Customer Silicon Valley 262

Steve Blank

SEPTEMBER 10, 2009

In future posts I’ll describe how Eric Ries and the Lean Startup concept provided the equivalent model for product development activities inside the building and neatly integrates customer and agile development. Is there some defining factor that easily distinguishes the difference? Sounds like handspring.

Customer Development 196

Customer Development Developer Customer Silicon Valley 196

Steve Blank

AUGUST 13, 2009

Customer Development/Lean Startups In hindsight startups and the venture capital community left out the most important first step any startup ought to be doing – hypothesis testing in front of customers- from day one. It’s what my textbook on Customer Development describes. I was an idiot.

Silicon Valley 179

Silicon Valley RSS Technical Review Lean 179

Steve Blank

APRIL 10, 2009

Customer Development ) to help you quickly recognize and reverse any incorrect decisions. Customer Development) to help you quickly recognize and reverse any incorrect decisions.&# My advice was to start a policy of making reversible decisions before anyone left his office or before a meeting ended. Blog at WordPress.com.

Silicon Valley 300

Silicon Valley RSS Startup Agile 300

Steve Blank

JULY 8, 2010

Take a look at the video below. Filed under: Customer Development , Venture Capital. Tags: Customer Development Venture Capital. Mark Suster, Vivek Wadhwa and Patrick Chung , Partner of New Enterprises Associates debated the subject on April 21st at Stanford.

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Venture Capital Entrepreneur Customer Development Partner 227

Steve Blank

SEPTEMBER 24, 2009

New strategic direction in companies with loyal customers have different consequences then when you had no customers Acquiring new customers are a lot more expensive that converting existing ones. Blog at WordPress.com. Theme: Digg 3 Column by WP Designer.

Customer 195

Customer Silicon Valley RSS California 195

Steve Blank

NOVEMBER 26, 2009

So no post today on entrepreneurship, Secret History of Silicon Valley, Customer Development, Lean Startups, etc. Our friends who run the state park surrounding our ranch will join all of us for Thanksgiving dinner. Just a reflection on my family and hopes for our children. Blog at WordPress.com. Theme: Digg 3 Column by WP Designer.

Silicon Valley 137

Silicon Valley Turkey United States RSS 137

Steve Blank

DECEMBER 7, 2009

Customer Development We were starting Epiphany, my last company. I was out and about in Silicon Valley doing what I would now call Customer Discovery trying to understand how marketing departments in large corporations worked. See part one for the first time it happened. This time it was serious. Good stuff too.

Silicon Valley 225

Silicon Valley Non-disclosure Agreement NDA Startup 225

Steve Blank

NOVEMBER 12, 2009

The presentation didn’t have a single word about Lean Startups or Customer Development. Brendan McManus said: “Lessons Learned” – A New Type of Venture Capital Pitch [link] #startup #advice [.] Your “Customer Development Process&# has really resonated for me. Your results may vary.

Venture Capital 209

Venture Capital Silicon Valley RSS Hockey Stick 209

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.

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Cofounder Founder Silicon Valley Technical Cofounder 219

Steve Blank

JANUARY 13, 2011

In November 2010 as part of my interview about entrepreneurs and Customer Development , the Shoshin Project also asked me about my thoughts on investing in innovation. They wanted some words of wisdom for their investment bank and hedge fund customers. Filed under: Venture Capital.

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Venture Capital Valuation Customer Development Video 255

Steve Blank

JUNE 25, 2009

The answer depends on your answer to two questions: which step in the Customer Development process are you on? Customer Development and Selling Strategy If you’ve just started your company you are in customer discovery. Hiring a VP of Sales in customer discovery typically sets a startup back.

Technology 138

Technology Silicon Valley Fractional VPE Part-Time VPE 138

Steve Blank

NOVEMBER 30, 2009

Customer Development is all about gathering a list of what features customers want by talking to them, surveying them, or running “focus groups.” Gathering feature requests from customers is not what marketing should be doing in a startup. And it’s certainly not Customer Development.

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Customer Development Developer Customer Silicon Valley 278

Steve Blank

OCTOBER 19, 2009

Blog at WordPress.com. Theme: Digg 3 Column by WP Designer.

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Engineer Silicon Valley Part-Time VPE Advisory Board 198

Steve Blank

MAY 28, 2009

But then, because there might be entrenched competitors and your concept is radically new, you still need to invest in the customer development process to learn how to get design wins from companies who may be happy with their existing vendors. For example, complex new semiconductor architectures, (i.e. Blog at WordPress.com.

Vertical 144

Vertical Silicon Valley Marketing Customer 144

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

Steve Blank

MARCH 20, 2009

Facts are the rock on which you build your strategy and tactics In a startup second-hand facts are almost as useless as opinions. Blog at WordPress.com. Theme: Digg 3 Column by WP Designer.

Silicon Valley 134

Silicon Valley Customer RSS Philippines 134

Steve Blank

MARCH 25, 2009

Reply steveblank , on March 28, 2009 at 7:27 am Said: Denis, Over time the blogs tagged under the “customer development&# category will build up a narrative of illustrative stories of how customer development evolved in practice. What part of this blog should I read if I am also reading the book?

Silicon Valley 141

Silicon Valley Marketing RSS California 141

Both Sides of the Table

NOVEMBER 4, 2012

You can watch the video of us discussing this and other topics here. But as usual there is a short summary to know the key topics where you can just skip to the critical point in the video you want to watch. This video is pure gold. 4:30 How did you come up with the idea of customer development?

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Community Silicon Valley Detroit Chicago 350

Steve Blank

JULY 30, 2009

And other startups are in a New Market — creating a market from scratch (like Apple with the iPhone, or iPod/iTunes.) (“Market Type&# radically changes how you sell and market at each step in Customer Development. It’s one of the subtle distinctions that at times gets lost in the process. Blog at WordPress.com.

Silicon Valley 131

Silicon Valley RSS California Customer Development 131

Steve Blank

APRIL 2, 2009

Getting B-52s through the Soviet Air Defense System Startup Ethics: Albatross or Essential? Blog at WordPress.com. Theme: Digg 3 Column by WP Designer.

Silicon Valley 124

Silicon Valley Technical Review RSS Software Review 124

Steve Blank

JUNE 23, 2016

Disruptive innovations are coming from startups – Telsa for automobiles, Uber for taxis, Airbnb for hotel rentals, Netflix for video rentals and Facebook for media. For the first 75 years of the 20 th century, when capital for new ventures was scarce, the smartest engineering talent went to corporate R&D labs.

Architecture 227

Architecture IRR Balance Sheet Liquidity Event 227

Steve Blank

JULY 27, 2009

I’ve built my company using the Customer Development Model from Day One. I recently completed the Validation step (less the industry analyst presentations) and am ready to move on to Customer Creation. Can I buy you lunch to share it with you? &# Yes, I’m serious. So the ask is made — shall it be given?

Silicon Valley 120

Silicon Valley RSS Technical Review California 120

Steve Blank

APRIL 9, 2009

on April 10, 2009 at 6:58 am Said: Amazing blog. Blog at WordPress.com. Theme: Digg 3 Column by WP Designer.

Silicon Valley 259

Silicon Valley Technical Review RSS PR 259

Steve Blank

OCTOBER 5, 2009

Blog at WordPress.com. Theme: Digg 3 Column by WP Designer.

North Carolina 125

North Carolina Silicon Valley Fractional VPE Part-Time VPE 125

Steve Blank

APRIL 30, 2009

Hopefully you and your co-founders are experts in one or two parts (agile development, SEO/SEM, etc.) But the rest; sales, marketing, bus dev is actually customer development that the founder needs to understand. so at least some parts are being run by people who know what they are doing. Blog at WordPress.com.

Sales 120

Sales Silicon Valley RSS Las Vegas 120