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Steve Blank
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Great entrepreneurial DNA is comprised of leadership, technological vision, frugality, and the desire to succeed.
- Steve Blank
#Desire
#DNA
#Great
#Leadership
#Vision
Value Proposition Design is a 'must have' for anyone creating a new venture. It captures the core issues around understanding and finding customer problems and designing and validating potential solutions.
- Steve Blank
#Design
#Problems
#Understanding
#Value
In winning companies, everybody pulls in the same direction.
- Steve Blank
#Direction
#Same Direction
#Same
#Winning
VCs like acquisitions as much as IPOs because the acquiring companies often can rationalize paying large multiples over the current valuation of the startup.
- Steve Blank
#Acquisitions
#Because
#Large
#Like
#Over
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
#Basic
#Creating
#Food
#Science
#Technology
#Well
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.
- Steve Blank
#Culture
#Great
#Key
#Smart
#Technology
Customer Development changes almost every aspect of startup behavior, performance, metrics, and, as often as not, success potential.
- Steve Blank
#Behavior
#Development
#Every
#Success
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.
- Steve Blank
#Dead
#Skills
#Team
#Testing
#Without
Skunk works were emblematic of corporate structures that focused on execution and devalued innovation.
- Steve Blank
#Execution
#Focused
#Innovation
#Skunk
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.
- Steve Blank
#Action
#Back
#Business
#Day
#Success
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.
- Steve Blank
#Building
#Ideas
#Lean
#Learning
#Potential
#Process
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.
- Steve Blank
#Balance
#Creating
#Flow
#Great
#Learning
#Skills
Failure will happen. It's a normal part of the startup process.
- Steve Blank
#Failure
#Happen
#Normal
#Process
#Will
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.
- Steve Blank
#History
#New
#Now
#Technology
#Time
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
#Canvas
#More
#Product
#Value
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.
- Steve Blank
#Development
#Everything
#Fighter
#First
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.
- Steve Blank
#Business
#Discovery
#Process
#Vision
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.
- Steve Blank
#Internet
#Media
#Social Media
#Worth
Face-to-face customer feedback refines or validates every component of the startup's business model, not just the product itself.
- Steve Blank
#Business
#Every
#Feedback
#Just
#Product
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
#Development
#Failure
#Process
#Success
Part of Customer Development is understanding which customers make sense for your business.
- Steve Blank
#Business
#Development
#Understanding
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.
- Steve Blank
#Great
#Intelligence
#Life
#Reward
#Work
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