Get QuoteDark Inspirational Quotes App

" 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. "

Related Quotes:

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

Steve Blank

Understand

Own

Need

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

" 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.' "

" 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. "

" Long hours don't necessarily mean success. "

" 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. "

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

" 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. "

" 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. "

" 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. "

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

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

" 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. "

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

" 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. "

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

" 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. "

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

" 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. "

" 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. "

" Creating a vertically oriented regional ecosystem is a pretty amazing accomplishment for any country or industry. "

" 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

" 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. "

" 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. "

" The Lean Startup is a process for turning ideas into commercial ventures. Its premise is that startups begin with a series of untested hypotheses. They succeed by getting out of the building, testing those hypotheses and learning by iterating and refining minimal viable products in front of potential customers. "

" 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. "

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

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