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

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" One can make the case that the New York venture capital industry is rooted in the 21st century, not the 20th. "

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

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

" In corporations, the penalty for repeated failure on known tasks is being reassigned to other tasks or asked to leave the company. "

" 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. "

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

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

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

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

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

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

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

" 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. "

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

" 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. "

" Part of Customer Development is understanding which customers make sense for your business. "

" 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. "

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

" 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. "

" 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. "

" It's worth noting that everything - from the Internet to electric cars, genomic sequencing, mobile apps, and social media - were pioneered by startups, not existing companies. "

" 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. "

" 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. "

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

" 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. "