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" 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. "

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" 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. "

Steve Blank

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" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

" 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. "

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

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

" 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. "

" 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. "

" 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.' "

" Founders have continually struggled with and adapted the 'big business' tools, rules, and processes taught in business schools when startups failed to execute 'the plan,' never admitting to the entrepreneurs that no startup executes to its business plan. "

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

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

" 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. "

" 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. "

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

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

" Schools reward their students for a combination of intelligence, perseverance, and hard work - in the classroom and on the playing fields. But these metrics don't help kids understand that great grades are not a pass for a great life. "

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

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

" 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. "

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

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

" 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. "

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

" 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. "