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

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

" 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. "

" 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. "

" Describing something as the 'Woodstock of...' has taken to mean a one-of-a-kind historic gathering. "

" 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. "

" 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. "

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

" Persuading employees to let go of old values and beliefs and adopt new ones can be challenging. "

" The business model is both the starting point and the scorecard for Customer Development progress. "

" Visionary CEOs are product- and business-model-centric and extremely customer focused. "

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

" 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. "

" 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. "

" 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. "

" 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. "

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

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

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

" 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. "

" Learning how to keep track of inventory and cash flow and creating an income statement and a balance sheet are great skills to learn for managing existing businesses. "

" Customer discovery is the process of translating a founder's vision for the company into hypotheses about each component of the business model and creating a set of experiments to test each hypothesis. "

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

" 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. "

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

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "