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" 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. "

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

Steve Blank

Great

Visionary

Business

" 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. "

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

" The stock market clearly values companies that can deliver disruptive innovation. "

" 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. "

" 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. "

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

" 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. "

" 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. "

" Very often, if a founder is waiting around for someone else to tell him what to do, the company is near death. "

" 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. "

" 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. "

" Founding a company is a sheer act of will and tenacity in the face of immense skepticism from everyone - investors, customers, friends, family, and employees, to name a few. "

" 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. "

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

" At the end of the day, VCs have to provide their limited partners with great returns, or they aren't going to be able to raise another fund. "

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

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

" The Columbia Startup Lab is a visible symbol of how the university is making entrepreneurship an integral part of all colleges at the university. "

" 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. "

" Skunk works differed from advanced research groups in that they were more than just product development groups. They had direct interaction with customers and controlled a sales channel which allowed them to negotiate their own deals with customers. "

" Watching an entrepreneur fail is sad, but watching him fail from lack of nerve is tragic. "

" By the beginning of the 21st century, entrepreneurs, led by Web and mobile startups, began to seek and develop their own management tools. "

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

" Everyone on the founding team ought to invest the time in a coding bootcamp. "

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

" 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. "

" 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. "

" Skunk works were emblematic of corporate structures that focused on execution and devalued innovation. "

" 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. "