Get QuoteDark Inspirational Quotes App

" 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. "

Related Quotes:

" The goal of listening to customers is not to please every one of them. It's to figure out which customer segments serve your needs - both short and long term. "

Steve Blank

Goal

Listening

Long

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

" 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. "

" Skunk works were emblematic of corporate structures that focused on execution and devalued innovation. "

" 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. "

" 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. "

" One can make the case that the New York venture capital industry is rooted in the 21st century, not the 20th. "

" VCs like acquisitions as much as IPOs because the acquiring companies often can rationalize paying large multiples over the current valuation of the startup. "

" 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. "

" 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. "

" Part of Customer Development is understanding which customers make sense for your business. "

" 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

" 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. "

" It typically takes multiple iterations and pivots to find product/market fit - the match between what you're building and who will buy it. "

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

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

" 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. "

" 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. "

" 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. "

" 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

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

" For busy young adults, the lure of meal substitutes is simple - it's all about convenience - the level of effort to open a bottle or package is minimal, and the time from thinking you're hungry to eating is almost zero. "

" 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. "

" 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. "

" 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. "

" 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. "

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

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

" 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.' "

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