Steve Blank

SEPTEMBER 1, 2021

The idea of exploitation versus exploration was central in my own work in building the lean methodology for start-ups. In sharp contrast, start-ups operate in “search/ explore ” mode, seeking a repeatable and profitable business model. Today, lean is the de facto method for building new start-ups. Companies that survive do both.

Incubator 416

Incubator Lean Agile Business Model 416

Up and Running

AUGUST 30, 2021

The important thing is to gain experience with how fast-paced companies operate, the relationships you need to be successful, and all the different hats you’ll have to wear. Angel investors, venture capital firms, accelerators, and (maybe) the newer equity crowdfunding will look to see if you have previous experience in startups.

Entrepreneur 132

Entrepreneur Lean Colorado Engineer 132

Both Sides of the Table

NOVEMBER 3, 2009

This is part of my ongoing series of posts and I need to file this one under both Raising Venture Capital and Startup Advice. The last couple of years has also seen the huge initial success of Ycombinator, the Lean Startup and many other product driven approaches to going to market. 66% Net Operating Margins?

Business Plan 334

Business Plan AJAX Venture Capital Technical Review 334

View from Seed

OCTOBER 24, 2019

As a first time founder, having a few million dollars in the bank after a successful seed raise may seem like a huge amount of capital, and it’s easy to lose discipline around your burn rate. There are always exceptions, on both the positive and negative side, and many companies really shouldn’t be raising venture capital at all.

Dilution 149

Dilution B2B Burn Rate Early Stage 149

YoungUpstarts

OCTOBER 22, 2018

He also shared that, initially, he was leaning toward building an experience management solution in-house, and that it was only at the insistence of the firm’s CMO that he relented and engaged our firm. For the past four years Ryan has been a senior associate with late-stage venture capital firm Next Level Ventures.

Iowa 113

Iowa Investment Bankers Cloud Software Review 113

ReadWriteStart

APRIL 8, 2023

Automation, Chatbots, AR, and AI Reign: the Future is Already Here Read more: 5 Reasons Why AR is the Future of Online Shopping Automation makes business operations flow smoothly without encountering technical difficulties. It also improves employees’ productivity by allowing them to focus on vital business operations.

eCommerce 185

eCommerce Technical Review Software Review Analytics 185

Steve Blank

AUGUST 5, 2010

Consumer Internet investing seems to have split off from traditional Venture Capital, and is creating a new category of VC’s: Lean VC’s. Electron-based Venture Capital. When I first came to Silicon Valley the world of Venture Capital looked pretty simple. Here’s why.

Lean 263

Lean Internet Silicon Valley Venture Capital 263

Steve Blank

MAY 30, 2016

Understanding the left-side of the mission model canvas ( activities, resources , partners , and costs) forces all teams to ask, “Are we building a product for a DOD/IC customer only or do we have a “dual-use” product that could be sold commercially and get funded by venture capital?”. This post is a continuation of the series.

Silicon Valley 120

Silicon Valley San Diego Technical Review Incubator 120

ReadWriteStart

JUNE 1, 2020

Reasons for funding. ? Scale up your operations. One of the most prominent reasons for funding is to scale up your operations, for expansion and achieve economies of scale. Now you may want to scale up your operations or expand your presence. The third reason is to fund your short term operational expenses or working capital.

Startup 150

Startup Entrepreneur Elevator Pitch Seed Stage 150

Both Sides of the Table

SEPTEMBER 10, 2021

how on Earth could the venture capital market stand still? One of the most common questions I’m asked by people intrigued by but also scared by venture capital and technology markets is some variant of, “Aren’t technology markets way overvalued? What Does this Mean for a Venture Capital Firm?

Pre-Money Valuation 471

Pre-Money Valuation Valuation Venture Capital Early Stage 471

This is going to be BIG.

MAY 12, 2014

That means I have a total budget of a little over $200,000 to run the entire operations of Brooklyn Bridge Ventures. You''re running pretty lean when you''re on your first fund. Venture Capital & Technology' That''s a big help. Can I buy a majority stake in the Mets? I feel very lucky to be doing this.

Investment Bankers 167

Investment Bankers Term Sheet Venture Capital Technical Review 167

Startup Lessons Learned

DECEMBER 14, 2017

Guest Post by Misti Yang, Writer for Lean Startup Co. Editor’s Note: We wrapped up the 2017 Lean Startup Week in San Francisco just a few weeks ago, and we’re excited to share with you some of the best lessons learned in entrepreneurship and corporate innovation. Because these Lean Startup people, they do crazy stuff,” Alex joked. “So

Lean 245

Lean Startup CTO Hire Cofounder 245

ReadWriteStart

FEBRUARY 21, 2021

Even if you have an angel investor or a venture capital (VC) firm backing you, you’ll have an abundance of expenses, limited income, and a finite amount of time before the money completely runs out. So what are the best ways to stay on the lean-side of things? Accordingly, you’ll need to be frugal. Do you really need this?

Startup 106

Startup Software Review Open Source Technical Review 106

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 235

Silicon Valley IPO Technical Review Venture Capital 235

Up and Running

NOVEMBER 15, 2017

Operating without a website is increasingly rare, and ignoring this weakness for too long could have disastrous consequences. This family-owned farm has been in existence for two years, initially operating as a hobby for the owners—who have training in plant biology—rather than as a profit-producing business. Build an online presence.

Botswana 148

Botswana Business Plan Oregon Distribution 148

VC Cafe

MAY 21, 2024

Cost Structure Changes : AI can automate numerous processes, significantly reducing operational costs. From infrastructure and semi conductors to applications that own the final customer (graphic by Altimeter Capital) Big tech firms are already dominating the infrastructure space with their massive investments and rapid innovations.

Generative AI 97

Generative AI ChatGPT Vertical B2B 97

Both Sides of the Table

SEPTEMBER 28, 2014

If you have a very low gross margin (10-30%) it can be very hard to build a large, scalable business because you need to make a lot of sales to cover your operating costs. In startup world low GM almost always equals death which is why many Internet retailers have failed or are failing (many operated at 35% gross margins).

Burn Rate 383

Burn Rate Balance Sheet .Net Valuation 383

Up and Running

OCTOBER 30, 2017

How will these affect day-to-day operations? Instead, your plan can follow a Lean Planning process that involves creating a pitch , forecasting your key business numbers, outlining key milestones you hope to achieve, and regular progress checks where you review and revise your plan. Angel investment (similar to venture capital).

Venture Capital 166

Venture Capital Business Plan Limited Liability Company Finance 166

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. Bend needed its own venture firm.

Silicon Valley 317

Silicon Valley Oregon Lean Venture Capital 317

Both Sides of the Table

JUNE 22, 2011

I’m looking for ones that understand that in order to build huge, meaningful companies they’ll need to likely build through these boom years and some lean ones. It’s what I love about entrepreneurship and about venture capital. If you are interested the Vimeo is here. Why I will still be investing.

Saudi Arabia 309

Saudi Arabia Valuation IPO Technical Review 309

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. (My No one was actually quite that good, but some VCs had “golden guts” for these kinds of operating issues. Yet when I talked to my venture capital friends, they said, “Well, that’s just how startups work.

Silicon Valley 131

Silicon Valley RSS Venture Capital Customer Development 131

Steve Blank

DECEMBER 30, 2014

Our Lean Launchpad® for Life Sciences is one of them. The Lean Launchpad® for Life Sciences (the I-Corps @ NIH ) uses the Lean Startup Model to discover and validate the business model. The Lean Launchpad® for Life Sciences (the I-Corps @ NIH ) uses the Lean Startup Model to discover and validate the business model.

San Diego 265

San Diego North Carolina Chicago Lean 265

Steve Blank

APRIL 8, 2022

Think of the Deputy Secretary of Defense as the Chief Operating Officer of a company – but in this case the company has 3 million employees (~1.4 Innovation incorporates lean methodologies (customer discovery, problem understanding, MVPs, Pivots), coupled with speed and urgency, and a culture where failure equals rapid learning.

Security 224

Security Silicon Valley China Private Equity 224

Startup Lessons Learned

JULY 6, 2011

The Lean Startup Book is done. If you've been waiting for a comprehensive account of the Lean Startup and how it can help you achieve dramatically better business results, this is it. Most of our management tools, like planning and forecasting, require a long and stable operating history. I am no longer writing a book.

Lean 167

Lean Startup Metrics Private Equity 167

Steve Blank

NOVEMBER 16, 2009

However the Customer Development Model and the Lean Startup work equally well for startups on the web. Union Square Ventures The next morning I got to spend time with Brad Burnham , partner at Union Square Ventures talking about their investment strategy and insights about web-based businesses.

Customer Development 228

Customer Development Web Developer Customer 228

Hunter Walker

AUGUST 1, 2022

Here are three of them, which I believe will make most VCs lean towards the “PASS” button…. Don’t Put an Exit Slide in a Seed Deck (or any deck before growth round IMO). Then I go to LinkedIn and see you have eight years of work experience, of which Google was a summer internship in operations team while you were in grad school.

Cofounder 107

Cofounder Startup Lean Venture Capital 107

The Next Web

JULY 13, 2012

In the startup world, venture capital is often viewed as the penultimate goal, yet for many startups bootstrapping is often the reality. For this reason, many small business owners lean on their personal credit to fund their business. This is a nine-digit number assigned by the IRS to business entities operating in the U.S.

CPA 126

CPA Startup LLC Bootstrapping 126

Steve Blank

JULY 25, 2011

While this signaled that investments in technology companies could be very lucrative, both Shockley and Fairchild could only be funded through corporate partners – there was no venture capital industry. government backed venture firms and limited partnerships. A wave of innovation was about to meet a pile of risk capital.

Engineer 311

Engineer Silicon Valley United States Venture Capital 311

Steve Blank

MAY 29, 2019

Lean LaunchPad class developed for Stanford. And the Lean LaunchPad class I developed at Stanford was the first such class. I believe the analogy is identical for entrepreneurship.The capstone entrepreneurship classes like NSF I-Corps or a Lean LaunchPad class, are for those who have already decided they want to be entrepreneurs.

Incubator 332

Incubator Lean Programming Government 332

Steve Blank

OCTOBER 19, 2009

Yet in our case the product, the machine as delivered from engineering, was a blank, featureless computer with just an operating system and compilers. In most other companies a product-marketing department was responsible for the pricing, positioning and promotion of the product.

Engineer 221

Engineer Silicon Valley Part-Time VPE Advisory Board 221

Steve Blank

FEBRUARY 12, 2015

In the past, when venture-funded startups told their investors they’d found a profitable business model, the first thing VC’s would do is to start looking for an “operating exec” – usually an MBA who would act as the designated “adult” and take over the transition from Search to Build. Time to Make New Friends. Lessons Learned.

Startup 120

Startup Lean Venture Capital Advisory Board 120

Feld Thoughts

OCTOBER 15, 2013

As with everything new that grows quickly, it’s a chaotic system with lots of innovation, creative destruction, and rapid change and learning that – if done well – is a great example of the power of the Lean Startup approach to entrepreneurship. Provide some sort of seed capital to their founders.

Global 179

Global Networking United States Seed Money 179

Steve Blank

JUNE 25, 2009

The OEM Business Convergent’s business was selling desktop computers (with our own operating system and office applications) to other computer manufacturers – most of them long gone: Burroughs, Prime, Monroe Data Systems, ADP, Mohawk, Gould, NCR, 4-Phase, AT&T.

Technology 143

Technology Silicon Valley Fractional VPE Part-Time VPE 143

Up and Running

JULY 28, 2020

Venture Capital and Angel Investment. Venture capital or angel investments are individuals or firms that are willing to pump funds into startups. Bootstrapping is really something every business owner should do to help feel out the early stages of understanding how much funding you need to operate.

Small Business 118

Small Business SBA Bootstrapping Venture Capital 118

500hats.com

AUGUST 2, 2012

TL:DR : This post aims to recap significant changes in the venture capital industry over the past ten years, and then make some [biased] predictions as to major forces at play in the next five years. However, all three shifts are related and can be summed up simply as: Geeks are Taking Over Venture Capital.

Silicon Valley 74

Silicon Valley Early Stage Venture Capital Valuation 74

Up and Running

MARCH 9, 2016

On top of this, there are abundant resources available to business owners—be it venture capital funding opportunities or recruiting channels via one of the local universities. Simple licensing procedures: Cities with convoluted or erratic licensing requirements will be much harder to operate in. Alongside Dallas, St.

St. Louis 60

St. Louis Dallas Missouri New Hampshire 60

Both Sides of the Table

APRIL 19, 2011

Since selling Matt has gone on to become one of the smartest angels I have seen operate. What better than to have capital from somebody who has actually done it in the trenches? . if you don't have experience with venture debt you might want to listen to this bit in the video - we talked a lot about how it works].

Acquisition 304

Acquisition Warrant Customer Term Sheet 304