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" A startup is not just about the idea: it's about testing and then implementing the idea. A founding team without these skills is likely dead on arrival. "

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" On Day One, a start-up is a faith-based initiative built on guesses. "

" Long hours don't necessarily mean success. "

" It typically takes multiple iterations and pivots to find product/market fit - the match between what you're building and who will buy it. "

" What's been missing from regions outside of Silicon Valley is a 'playbook.' In American football, a playbook contains a sports team's strategies and plays. It struck me that every region needs its own industry playbook on how to compete globally. "

" Products are sold because they solve a problem or fill a need. Understanding problems and needs involves understanding customers and what makes them tick. "

" Michael Bloomberg has yet to get his due for engineering the New York entrepreneurial ecosystem. "

" The music and movie business has been consistently wrong in its claims that new platforms and channels would be the end of its businesses. In each case, the new technology produced a new market far larger than the impact it had on the existing market. "

" Failure will happen. It's a normal part of the startup process. "

" The Value Proposition Canvas functions like a plug-in to the Business Model Canvas and zooms into the value proposition and customer segment to describe the interactions between customers and product more explicitly and in more detail. "

" First and deadliest of all is a founder's unwavering belief that he or she understands who the customers will be, what they need, and how to sell it to them. "

" At the intersection of food science and technology, food replacement startups are creating substitutes for the basic components of meals as well as replacements for complete meals. "

" At some major events - your birth and death, for example - while you may be the center of attention, the events are managed by others and are more important to the people around you. "

" Value Proposition Design is a 'must have' for anyone creating a new venture. It captures the core issues around understanding and finding customer problems and designing and validating potential solutions. "

" Unlike many other startup processes, Customer Development is deep, detailed, and rigorous. "

" Creating a vertically oriented regional ecosystem is a pretty amazing accomplishment for any country or industry. "

" Visionary CEOs are not 'just' great at assuring world-class execution of a tested and successful business model: they are also world-class innovators. "

" The Lean Startup process builds new ventures more efficiently. It has three parts: a business model canvas to frame hypotheses, customer development to get out of the building to test those hypotheses, and agile engineering to build minimum viable products. "

" If you've never founded a company, rest assured it never happens as elegantly and smoothly as articles in 'Inc.' and other business magazines or case studies suggest. "

" With clear definitions and a taxonomy that illustrates their relationships, the Inventure Cycle defines the pathway from inspiration to implementation. This framework captures the skills, attitudes, and actions that are necessary to foster innovation and to bring breakthrough ideas to the world. "

" Market type determines the startup's customer feedback and acquisition activities and spending. It changes customer needs, adoption rates, product features, and positioning as well as its launch strategies, channels and activities. "

" Visionary CEOs are product- and business-model-centric and extremely customer focused. "

" Great founders live for chaotic moments. "

" As I've gotten older, I've come to grips that the unexamined life is what works for most people. Most take what they learned in school, get a job, marry, buy a house, have a family, become a great parent, serve their god, community and country, hang with friends, and live a good life. And for them that's great. "

" Understand that VCs are simply a sophisticated form of financial investors who, in turn, need to satisfy their own investors. "

" At the commencements I attended, graduates were classified by their academic rankings. Outstanding academic performance was noted in the programs and awarded with special honors. "

" Commencement Day has a sobering finality in that it's the end of the prescribed path. "

" For busy young adults, the lure of meal substitutes is simple - it's all about convenience - the level of effort to open a bottle or package is minimal, and the time from thinking you're hungry to eating is almost zero. "

" At 19, I joined the Air Force during the Vietnam War. "

" Startups have finite time and resources to find product/market fit before they run out of money. Therefore startups trade off certainty for speed, adopting 'good enough decision making' and iterating and pivoting as they fail, learn, and discover their business model. "

" Great entrepreneurial DNA is comprised of leadership, technological vision, frugality, and the desire to succeed. "