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

Related Quotes:

" 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. "

" 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. "

" 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.' "

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

" 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. "

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

" 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. "

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

" Customer Development changes almost every aspect of startup behavior, performance, metrics, and, as often as not, success potential. "

" At the commencements I attended, graduates were classified by their academic rankings. Outstanding academic performance was noted in the programs and awarded with special honors. "

" 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. "

" 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. "

" 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. "

" Visionary CEOs don't need someone else to demo the company's key products for them. They deeply understand products, and they have their own coherent and consistent vision of where the industry/business models and customers are today, and where they need to take the company. "

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

" Measuring how hard your team is working by counting the number of hours they work or what time they get in and leave is how amateurs run companies. "

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

Entrepreneurship

" Great VCs do everything they can to make you successful. But just like your bank, credit card company, mortgage holder, etc. they are not confused where their long-term loyalty lies. "

" 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. "

" 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. "

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

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

" 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. "

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

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

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

" You can get a good handle on a company's culture before you even get inside the building. For example, when companies say, 'We value our employees' but have reserved parking spots, a private cafeteria, and over-the-top offices for the executives, that tells you more than any PR spin. "

" 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. "

" 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. "

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