Michael Bloomberg has yet to get his due for engineering the New York entrepreneurial ecosystem. – Steve Blank
Each industry in a region should develop a playbook that expands and details the strategy and tactics of how to build a scalable startup. – Steve Blank
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. – Steve Blank
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. – Steve Blank
Persuading employees to let go of old values and beliefs and adopt new ones can be challenging. – Steve Blank
In the past, when venture-funded startups told their investors they’d found a profitable business model, the first thing VCs would do is to start looking for an ‘operating exec’ – usually an MBA who would act as the designated ‘adult’ and take over the transition from Search to Build. – Steve Blank
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
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
One can make the case that the New York venture capital industry is rooted in the 21st century, not the 20th. – Steve Blank
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. – Steve Blank
It typically takes multiple iterations and pivots to find product/market fit – the match between what you’re building and who will buy it. – Steve Blank
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. – Steve Blank
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. – Steve Blank
We now understand the distinction between startups – who search for a business model – versus existing companies – that execute a business plan. – Steve Blank
In a web/mobile startup, coding is not an outsourced activity. It’s an integral part of the company’s DNA. – Steve Blank