Steve Blank

NOVEMBER 16, 2009

Eric Ries in Times Square For any model to be useful it has to predict what happens in the real world – including the web. I realized the Customer Development model needs to be clearer in what exactly a startup is supposed to do, regardless of the business model. “What is the “Business Model” of your startup?&#

Customer Development 228

Customer Development Web Developer Customer 228

Startup Professionals Musings

OCTOBER 17, 2018

This can happen through early marketing, independent of whether you have yet delivered a single product, proven your business model, or have any real customers. Assemble a credible inside advisory board and partners. Show validation data for business model key elements.

Advisory Board 199

Advisory Board Technical Review Metrics Business Model 199

Startup Professionals Musings

MAY 22, 2010

Build qualified advisory board. If you can convince a couple of domain experts, or a couple of experienced executives to join your board and be your advocate, that’s traction. It doesn’t prove your business model of pricing, distribution, and support. Investors love to have smart and experienced people in the boat.

Intellectual Property 222

Intellectual Property Sweat Equity CTO Hire Fractional CTO 222

Steve Blank

OCTOBER 11, 2016

And not keep investors informed about changes to your business model can have serious consequences. When they found out, they questioned my decision-making and me as an entrepreneur. The same passion that got your startup idea off the ground can blind you to signs that your company is failing. If you can’t hear the clip, click here.

Columbus 249

Columbus Entrepreneur Cofounder Ohio 249

Startup Professionals Musings

JUNE 30, 2012

Many entrepreneurs work hard on the proof of concept (technical), but skip any proof of the business model (revenue flow). Proving the business model requires a different approach than proving the technical concept. So how do you go about proving the business model? Prove the technical concept.

Business Model 248

Business Model Advisory Board Entrepreneur Angel Investor 248

YoungUpstarts

JUNE 4, 2019

Key components of revenue architecture go beyond simply predicting sales to include: the name and attributes of the startup’s category, a messaging matrix, a pricing strategy, a sales strategy and other business model elements. Whatever the product and business model, entrepreneurs must be prepared to build critical momentum.

Framework 127

Framework Architecture Cleveland Early Stage 127

Startup Professionals Musings

AUGUST 4, 2013

Many entrepreneurs work hard on the proof of concept (technical), but skip any proof of the business model (revenue flow). Proving the business model requires a different approach than proving the technical concept. So how do you go about proving the business model? Prove the technical concept.

Business Model 235

Business Model Product Advisory Board Angel Investor 235

Startup Professionals Musings

APRIL 15, 2011

Many entrepreneurs work hard on the proof of concept (technical), but skip any proof of the business model (revenue flow). Proving the business model requires a different approach than proving the technical concept. So how do you go about proving the business model? Prove the technical concept.

Business Model 234

Business Model Advisory Board Startup Angel Investor 234

YoungUpstarts

MAY 24, 2019

Key components of revenue architecture go beyond simply predicting sales to include: the name and attributes of the startup’s category, a messaging matrix, a pricing strategy, a sales strategy and other business model elements. Whatever the product and business model, entrepreneurs must be prepared to build critical momentum.

Framework 113

Framework Architecture Cleveland Early Stage 113

The Startup Magazine

OCTOBER 25, 2017

The business models not only have to have the potential to scale, they also need to have demonstrated product acceptance, be post-revenue, be innovative within their space, and meet timing criteria for broad market acceptance. Led by former Apple project manager Brian Brackeen, Kairos set up an Endeavor-facilitated advisory board.

Miami 72

Miami Technical Review Software Review Advisory Board 72

YoungUpstarts

OCTOBER 22, 2012

These may include references, referrals, testimonials, serving on advisory boards, and participating in your customer communities, he explains.

Programming 145

Programming Customer Social Media Advisory Board 145

Steve Blank

MAY 19, 2015

He had never run one, and worse, had never been on a board of a startup making the transition from searching for a business model and product/market fit, to the next phase of “building” the infrastructure to support scale. In the past any customer could talk to Tom or expected Tom to talk to them. Is that feasible?

Technical Review 120

Technical Review Salary Early Stage Software Review 120

Steve Blank

AUGUST 27, 2012

Tossing their agile development process and at times their entire business model in the air, the company would go into fire-drill mode and engineering would start working on whatever his latest insight was. ” “A pivot is a substantive change to one or more of components to your business model. he’d declare. “We

Founder 323

Founder Cofounder Advisory Board Burn Rate 323

Steve Blank

OCTOBER 11, 2016

And not keep investors informed about changes to your business model can have serious consequences. When they found out, they questioned my decision-making and me as an entrepreneur. The same passion that got your startup idea off the ground can blind you to signs that your company is failing. If you can’t hear the clip, click here.

Columbus 120

Columbus Entrepreneur Cofounder Ohio 120

Up and Running

JUNE 16, 2014

Make no mistake, you will need to have a business model or a business plan that shows just where you sit in relation to your competitors. To demonstrate traction you might recruit a good management team, start making sales, build an advisory board or secure strategic partnerships. What makes you a game-changer?

Exit Strategy 91

Exit Strategy Advisory Board Business Plan Portfolio 91

Up and Running

AUGUST 30, 2017

You want to review all the different components of your business model. This description should basically be an elevator pitch for potential partners and business investors to get excited about what you’re offering and your unique location, philosophy, and approach. What is your business model? How will you grow?

Business Plan 93

Business Plan SBA Software Review Advisory Board 93

Startup Professionals Musings

APRIL 5, 2010

Many entrepreneurs work hard on the proof of concept (technical), but skip any proof of the business model (revenue flow). Proving the business model requires a different approach than proving the technical concept. So how do you go about proving the business model? Prove the technical concept.

Business Model 120

Business Model Advisory Board Angel Investor Channel 120

Steve Blank

JULY 29, 2013

(However, in some industries such as life sciences, founders may be tenured professors who are not going to give up their faculty positions, so they often become the head of a startup’s scientific advisory board, but aren’t part of the founding team.). A couple of caveats about founders with “ideas.”

Cofounder 335

Cofounder Advisory Board Customer Development Leadership 335

Startup Professionals Musings

JUNE 10, 2020

Every business today must recognize that change is the only constant for survival. Accountable leaders and teams realize that pivots are often required, and the agility to make changes to the product, business model, and even the customer set, must be part of every accountable culture.

Advisory Board 283

Advisory Board Due Diligence Retention Agile 283

Steve Blank

JUNE 15, 2010

The role of a founding CEO in a startup searching for a business model is radically different than a CEO building and growing a company. Certain VC’s like the new class of Super-Angels and small VC funds specialize in the early stage of a startup where you are searching for a business model. Your potential business model?

Founder 232

Founder Vesting Later Stage Early Stage 232

Startup Professionals Musings

MAY 13, 2011

Explain the business model. Many people seem to use the social network advertising model for revenue, but forget it assumes at least 100M users and $50M investment. Convince investors that your team is experienced in starting a new business, and have great expertise in the selected business domain.

Business Plan 290

Business Plan Sweat Equity Exit Strategy Intellectual Property 290

David Teten

JANUARY 19, 2021

Typical business stage. An already proven business model and its already valuable assets. Typical business model. Typically stable, high margins; repeatable sales model; clear path to profitability; and high growth potential. Traditional Revenue-Based Investment. Venture Debt. Pre or post-revenue.

Cofounder 78

Cofounder Technical Review Equity Dividend 78

Startup Professionals Musings

AUGUST 13, 2012

Explain the business model. Many people seem to use the social network advertising model for revenue, but forget it assumes at least 100M users and $50M investment. Convince investors that your team is experienced in starting a new business, and have great expertise in the selected business domain.

Business Plan 283

Business Plan Sweat Equity Exit Strategy Intellectual Property 283

Steve Blank

OCTOBER 8, 2024

Or if they have a disruptive technology or business model, they want to create a new capability or operating concept – even creating a new market. Set up committees and advisory boards to “study” the problem. Claim that an existing R&D or engineering organization is already doing it (0r can do it better/cheaper.)

Government 296

Government Advisory Board Leadership Programming 296

Startup Professionals Musings

JANUARY 5, 2018

The reality is that successful businesses these days require an equally elegant business model, with the right marketing, delivery channel, price, and target customers, to get real traction. In the investment community, this work is called proving the business model. Finalize your channel and marketing strategy.

Product 137

Product Advisory Board Business Model Cofounder 137

betashop.com

OCTOBER 8, 2012

But, you can iterate and iterate on features, but you cannot iterate your way to a business model. I’ve seen too many businesses get stuck or fail because of their endless pursuit for the magic new feature that is going to help them gain traction. Use them as a sounding board for corporate development issues.

Technical Review 108

Technical Review Technology Software Review Valuation 108

Startup Professionals Musings

JUNE 22, 2016

According to most experts , business traction is evidence that somebody really wants your product. It’s business momentum, independent of whether you have a product delivered, proven the business model, or significantly penetrated the opportunity. Build an inside advisory board of influencers and experts.

Metrics 143

Metrics Advisory Board Startup Lean 143

Startup Professionals Musings

APRIL 22, 2010

Explain the business model. Many people seem to use the social network advertising model for revenue, but forget it requires at least 100M users and $50M investment. Convince investors that your team is experienced in starting a new business, and have great expertise in the selected business domain.

Business Plan 186

Business Plan Exit Strategy Sweat Equity Intellectual Property 186

Gust

AUGUST 5, 2012

Explain the business model. Many people seem to use the social network advertising model for revenue, but forget it assumes at least 100M users and $50M investment. Convince investors that your team is experienced in starting a new business, and have great expertise in the selected business domain.

Business Plan 182

Business Plan Sweat Equity Exit Strategy Intellectual Property 182

The Startup Magazine

MAY 28, 2019

From our hard working and talented employees, ‘smart-money’ investors, to our Advisory Board Members that include Gerry Calabrese founder of Hoxton Spirits or Tomasz Fajfer European Financial Director of Sephora and ex Board Member of Costa Coffee. What will the business model look like moving forward?

Advisory Board 115

Advisory Board Angel Investor Startup Cofounder 115

YoungUpstarts

JUNE 7, 2017

by Patrick Henry, author of “ Plan Commit Win: 90 Days to Creating a Fundable Startup “ What makes one idea good, and another one bad, from a business perspective? In creating a successful business, it is important that you assess your business idea in terms of its ability to make money. You must refine your idea.

Advisory Board 138

Advisory Board Revenue Vertical Business Model 138

Startup Professionals Musings

FEBRUARY 13, 2016

How does your business model make money? Good causes such as feeding the world’s hungry may help your marketing but may not sustain a business. The business model has to clearly define who is your customer, market penetration expected, how much customers pay versus total costs and the investment required to sustain cash flow.

Sweat Equity 120

Sweat Equity Advisory Board Liquidity Event Startup 120

Steve Blank

FEBRUARY 12, 2015

In this first step, the goal of a startup is to search for a repeatable and scalable business model. Patrick took a bunch of notes, and said, “You know when I figuring out how to search for a business model, I read the Startup Owners Manual and Business Model Generation , but where are the books for this phase?

Startup 120

Startup Lean Venture Capital Advisory Board 120

ReadWriteStart

JUNE 20, 2012

Moreover, they can be potential advisory board candidates. Use the Business Model Canvas as the Customer Discovery Scorecard. Often there’s a lack of a shared and clear understanding of the business model throughout the company. Build a Minimum Viable Product (MVP) First.

Customer 119

Customer Advisory Board Cofounder Engineer 119

The Startup Magazine

JUNE 19, 2018

We enjoy visionary leadership, dedicated engineers working on their life ambitions, exceptional operational leadership, the A list of advisory board members, highly skilled assembly technicians, and energetic marketing and product team members. We have been fortunate to have a business model that made us revenue positive from day one.

Texas 103

Texas Advisory Board Startup Angel Investor 103

YoungUpstarts

DECEMBER 3, 2015

There’s no place in any business for me-too products or services. Develop an advisory board. All these things can be disastrous in terms of the longevity and livelihood of your business. There’s a unique value to a scalable business model from day one. You don’t know everything.

Entrepreneur 100

Entrepreneur Advisory Board Equity Exit Strategy 100

Steve Blank

JUNE 22, 2009

Army Signal Corps advisory board, and the Army was going to acquire their first computer for research. For the first 25 years HP’s business model was static. Of course HP did ship new products and innovate, but their center of innovation was sustaining innovation , around the core of their existing business.

Silicon Valley 192

Silicon Valley RSS California Agile 192