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" Creating a vertically oriented regional ecosystem is a pretty amazing accomplishment for any country or industry. "
Steve Blank
Accomplishment
Country
Pretty
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" Customer Development changes almost every aspect of startup behavior, performance, metrics, and, as often as not, success potential. "
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" 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. "
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" The convergence of digital trends, along with the rise of China and globalization, has upended the rules for almost every business in every corner of the globe. "
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" The Lean Startup is a process for turning ideas into commercial ventures. Its premise is that startups begin with a series of untested hypotheses. They succeed by getting out of the building, testing those hypotheses and learning by iterating and refining minimal viable products in front of potential customers. "
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" Companies that acquire startups for their intellectual property, teams, or product lines are acquiring startups that are searching for a business model. If they acquire later stage companies who already have users/customers and/or a predictable revenue stream, they are acquiring companies that are executing. "
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Intellectual
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" Great entrepreneurial DNA is comprised of leadership, technological vision, frugality, and the desire to succeed. "
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" 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.' "
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Education
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Small
" 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. "
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Goal
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Long
" 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. "
Steve Blank
Innovation
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Little
" 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. "
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Business
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" I have to think my success in the VC business was due in no small part to seeing Larry Ellison in action back in the day. "
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" 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. "
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Value
Before
Building
" 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? "
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Need
Company
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" 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. "
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Imagination
Problem
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" Commencement Day has a sobering finality in that it's the end of the prescribed path. "
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Finality
Path
End
" 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. "
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You
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More
" By the beginning of the 21st century, entrepreneurs, led by Web and mobile startups, began to seek and develop their own management tools. "
Steve Blank
Web
Beginning
Management
" 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. "
Steve Blank
Mistakes
Make
Friends
" In a web/mobile startup, coding is not an outsourced activity. It's an integral part of the company's DNA. "
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Company
Coding
Part
" Startups are companies that are still in the process of searching for a business model. Ventures that are further along and executing their business models are no longer startups; they are early-stage companies. "
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Searching
Business
Process
" Understand that VCs are simply a sophisticated form of financial investors who, in turn, need to satisfy their own investors. "
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Understand
Own
Need
" Not all new ventures are at the same stage of maturity. "
Steve Blank
New
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Ventures
" Founders, presuming they know their customers, assume they know all the features customers need. "
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Customers
Need
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" 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. "
Steve Blank
Why
Art
Building
" 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. "
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Development
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" Failure will happen. It's a normal part of the startup process. "
Steve Blank
Normal
Happen
Failure
" Visionary CEOs are product- and business-model-centric and extremely customer focused. "
Steve Blank
Product
Visionary
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" 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. "
Steve Blank
Business
True
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" 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. "
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Moving
Problems
You
" Normally when I have students over, we sit in the house and look at the fields to try to catch a glimpse of a bobcat hunting. "
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Students
Look
Hunting