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" The art of entrepreneurship and the science of Customer Development is not just getting out of the building and listening to prospective customers. It's understanding who to listen to and why. "

Related Quotes:

" 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. "

Steve Blank

Test

Vision

Company

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

" 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. "

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

" 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. "

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

" 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. "

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

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

" First and deadliest of all is a founder's unwavering belief that he or she understands who the customers will be, what they need, and how to sell it to them. "

" 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. "

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

" 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. "

" 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. "

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

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

" 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. "

" Companies that get started and built in New York City tend to be applied technology. "

" Each industry in a region should develop a playbook that expands and details the strategy and tactics of how to build a scalable startup. "

" 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. "

" 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. "

" 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. "

" 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

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

" 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. "

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

" 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. "

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