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" If you've never founded a company, rest assured it never happens as elegantly and smoothly as articles in 'Inc.' and other business magazines or case studies suggest. "

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" 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. "

Steve Blank

Best

Friend

Best Friend

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

" 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. "

" 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. "

" 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. "

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

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

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

" 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. "

Steve Blank

Business

Detail

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

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

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

" 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. "

" 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. "

" As an entrepreneur, my problem was that I had too many ideas. "

" 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. "

" 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. "

" 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. "

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

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

" 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 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. "

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

" 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? "

" There's nothing wrong with a business that supports you and perhaps an extended family. But if you want to build a scalable startup, you need to be asking how you can you get enough customers/users/payers to build a business that can grow revenues past several $100M/year. "

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

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

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

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