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" 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. "

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" Visionary CEOs don't need someone else to demo the company's key products for them. They deeply understand products, and they have their own coherent and consistent vision of where the industry/business models and customers are today, and where they need to take the company. "

Steve Blank

Own

Company

Key

" 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. "

" My imagination ran 24/7, and to me, every problem was a challenge to solve and new product to create. It wasn't until I started teaching that I realized that not everyone's head worked the same way. "

" 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. "

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

" Decades before we were able to articulate the value of 'getting out of the building' and the Lean Startup, the value in having skunk works controlling their own distribution was starkly evident. "

" Great VCs do everything they can to make you successful. But just like your bank, credit card company, mortgage holder, etc. they are not confused where their long-term loyalty lies. "

" Schools reward their students for a combination of intelligence, perseverance, and hard work - in the classroom and on the playing fields. But these metrics don't help kids understand that great grades are not a pass for a great life. "

" 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. "

" Not all startups are alike. One of the key ways they differ is in the relationship between a startup's new product and its market. "

" Great founders live for chaotic moments. "

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

" 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 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

" One of the biggest mistakes entrepreneurs make is not understanding the relationship they have with their investors. At times, they confuse VCs with their friends. "

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

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

" Founders have continually struggled with and adapted the 'big business' tools, rules, and processes taught in business schools when startups failed to execute 'the plan,' never admitting to the entrepreneurs that no startup executes to its business plan. "

" All too often, a corporate innovation initiative starts and ends with a board meeting mandate to the CEO followed by a series of memos to the staff, with lots of posters and one-day workshops. This typically creates 'innovation theater' but very little innovation. "

" Customer Development changes almost every aspect of startup behavior, performance, metrics, and, as often as not, success potential. "

" Only by moving away from the comforts of your conference room to truly engage with and listen to your customers can you learn in depth about their problems, produce features to solve those problems, and learn what drives customers to recommend, approve, and purchase products. "

" In winning companies, everybody pulls in the same direction. "

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

" 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. "

" Not all new ventures are at the same stage of maturity. "

" Innovation in an existing company is not just the sum of great technology, key acquisitions, or smart people. Corporate innovation needs a culture that matches and supports it. "

" 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. "

" Once you establish what activities your company needs to do, the next question is, 'How do these activities get accomplished?' i.e. what resources do I need to make the activities happen? "

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

" Most people appear to live an unexamined life, cruising through the years without much reflection about what it means, and/or taking what life hands them and believing it's all predestined. "