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" 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. "

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" Customer discovery is the process of translating a founder's vision for the company into hypotheses about each component of the business model and creating a set of experiments to test each hypothesis. "

Steve Blank

Test

Vision

Company

" When your product solves a problem that costs customers sleep, revenue, or profits, things are definitely looking up. "

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

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

" Market type influences everything a company does. Strategy and tactics for one market type seldom work for another. "

" 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. "

" Out of electronics school, my first assignment was to a fighter base in Florida. My roommate, Glen, would become my best friend in Florida and Thailand as we were sent to different air bases in Southeast Asia. "

" You can get a good handle on a company's culture before you even get inside the building. For example, when companies say, 'We value our employees' but have reserved parking spots, a private cafeteria, and over-the-top offices for the executives, that tells you more than any PR spin. "

" 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. "

" We now understand the distinction between startups - who search for a business model - versus existing companies - that execute a business plan. "

" If you think the job of a CEO is to increase sales, then Ballmer did a spectacular job. "

" Any dispassionate observer would recognize that on Day One, a start-up has no customers, and unless the founder is a true domain expert, he or she can only guess about the customer, problem, and business model. "

" The goal of listening to customers is not to please every one of them. It's to figure out which customer segments serve your needs - both short and long term. "

" 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. "

" Unfortunately, as you hire more people, the casual, informal 'do what it takes' culture, which worked so well at less than 40 people, becomes chaotic and less effective. "

Steve Blank

You

Well

" The art of entrepreneurship and the science of Customer Development is not just getting out of the building and listening to prospective customers. It's understanding who to listen to and why. "

" Entrepreneurial education in grades K-12, if it exists at all, still focuses on teaching potential entrepreneurs small business entrepreneurship - the equivalent of 'how to run a lemonade stand.' "

" For Customer Development to succeed, everyone on the team - from investor or parent company to engineers, marketers and founders - needs to understand and agree that the Customer Development process is different to its core. "

" In a web/mobile startup, coding is not an outsourced activity. It's an integral part of the company's DNA. "

" The Lockheed Skunk Works, led by Kelly Johnson, was responsible for its Advanced Development Projects - everything from the P-80, the first U.S. jet fighter plane, to the U-2 and A-12 spy planes. "

" In the past, when venture-funded startups told their investors they'd found a profitable business model, the first thing VCs 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. "

Steve Blank

Past

Looking

" Face-to-face customer feedback refines or validates every component of the startup's business model, not just the product itself. "

" Measuring how hard your team is working by counting the number of hours they work or what time they get in and leave is how amateurs run companies. "

" While 'The Owner's Manual' is not a formula for guaranteed success by any means, we're confident it will help reduce the failure rate of most startups that use our Customer Development process. "

" Founders, presuming they know their customers, assume they know all the features customers need. "

" Persuading employees to let go of old values and beliefs and adopt new ones can be challenging. "

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

" History has shown that time and market forces provide equilibrium in balancing interests, whether the new technology is a video recorder, a personal computer, an MP3 player, or now the Net. "

" The food replacement category is what it sounds like - companies are substituting plants or food grown in a lab to replace meat, fish, eggs, milk - or, like Soylent, to package nutritionally complete meals into a drink. "

" The introduction of new technology is always disruptive to existing markets, particularly to content/copyright owners who sell through well-established distribution channels. "