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" 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. "

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" 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. "

Steve Blank

Imagination

Problem

Way

" 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. "

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

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

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

" 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. "

Steve Blank

You

Well

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

" 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. "

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

" 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. "

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

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

" What's been missing from regions outside of Silicon Valley is a 'playbook.' In American football, a playbook contains a sports team's strategies and plays. It struck me that every region needs its own industry playbook on how to compete globally. "

Steve Blank

American

Football

" A startup is not just about the idea: it's about testing and then implementing the idea. A founding team without these skills is likely dead on arrival. "

" Most people appear to live an unexamined life, cruising through the years without much reflection about what it means, and/or taking what life hands them and believing it's all predestined. "

" 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. "

" 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. "

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

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

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

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

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

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

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

" 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. "

" 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. "