Steve Blank

JANUARY 17, 2023

Venture Studios are an “idea factory” with their own employees searching for product/market fit and a repeatable and scalable business model. But these look for founders who have a technical or business model insight and a team. They do the most to de-risk the early stages of a startup. How Venture Studios Work.

Technical Cofounder 368

Technical Cofounder Intellectual Property Technical Review Incubator 368

Startup Professionals Musings

MAY 17, 2020

Every entrepreneur I know has their favorite excuse for a previous failure – an investor backed out, the economy took a downturn, or a supplier delivered bad quality. I certainly agree that starting a business is fraught with risk, and none of us get it all right the first time. Assume passion level defines business opportunity.

Intellectual Property 436

Intellectual Property Angel Investor Viral Distribution 436

Startup Professionals Musings

FEBRUARY 15, 2015

Angel investors and venture capitalists don’t make equity investments in non-profits. The simple reason is that it’s impossible to make money for investors when the goal of the company is to not make money. You still start the process with a business plan, but then you look for a philanthropist rather than an investor.

Angel Investor 120

Angel Investor Equity Technical Review Exit Strategy 120

Startup Professionals Musings

DECEMBER 6, 2019

According to a well-researched Motly Fool report, the challenge is very real, since around half of all businesses fail in the first five years. The problem is that professional investors (angels and venture capital) want a proven business model before they invest, ready to scale, rather than early projections and product development.

Finance 320

Finance Intellectual Property Technical Review Incubator 320

Startup Professionals Musings

DECEMBER 6, 2014

As a startup mentor, I’m always amazed that some entrepreneurs seem to be an immediate hit with investors, while others struggle to get any attention at all. Finally I realized that Venture Capital and Angel investors are actually humans, despite some views to the contrary. Evidence of adaptability and flexibility.

Angel Investor 268

Angel Investor Intellectual Property Entrepreneur Early Stage 268

Startup Professionals Musings

FEBRUARY 19, 2013

According to a Gompers and Lerner study, the challenge is very real, with 90% of new ventures that don't attract investors failing within the first three years. My first advice for new entrepreneurs is to pick a domain that doesn’t have the sky-high up-front development costs, like online web sites and smart phone apps.

Intellectual Property 309

Intellectual Property Technical Review Venture Capital Startup 309

Startup Professionals Musings

SEPTEMBER 23, 2010

Every new startup I know dreams of being funded by an angel investor. A conundrum for many frustrated entrepreneurs is that they need money from investors to design and build a prototype product, yet most angel investors expect to see at least a prototype before they invest. Finalize your financial model.

Angel Investor 224

Angel Investor Intellectual Property Technical Review Elevator Pitch 224

Startup Professionals Musings

DECEMBER 20, 2012

Nail the business model. Leverage your customer conversations to predict and validate your business model. Don’t forget a viable financial model of costs, margins, customer acquisition, and break-even. Don’t attempt to scale it until you have a proven repeatable business model that predictably generates revenue.

Startup 296

Startup Angel Investor Technical Review Incubator 296

Startup Professionals Musings

JUNE 2, 2013

That means there are far more entrepreneurs looking for money than there are investors, and entrepreneur entitlement is not a realistic expectation. Angel investors look for prior domain and startup experience. No VC or Angel investors I know are interested in a bunch of angry, crammed-down small investors as co-shareholders.

Angel Investor 269

Angel Investor Cram Down Intellectual Property Venture Capital 269

Startup Professionals Musings

SEPTEMBER 19, 2011

Nail the business model. Leverage your customer conversations to predict and validate your business model. Don’t forget a viable financial model of costs, margins, customer acquisition, and break-even. Don’t attempt to scale it until you have a proven repeatable business model that predictably generates revenue.

Startup 286

Startup Angel Investor Technical Review Incubator 286

Startup Professionals Musings

JULY 3, 2011

Angel investors and venture capitalists don’t invest in non-profits. The simple reason is that it’s impossible to make money for investors when the goal of the company is to not make money. You still start the process with a business plan, but then you look for a philanthropist rather than an investor.

Angel Investor 238

Angel Investor Technical Review Exit Strategy Equity 238

Startup Professionals Musings

JULY 14, 2014

According to a Gompers and Lerner study, the challenge is very real, with a majority of new ventures that don''t attract investors failing within the first three years. My first advice for new entrepreneurs is to pick a domain that doesn’t have the sky-high up-front development costs, like online web sites and smart phone apps.

Entrepreneur 283

Entrepreneur Intellectual Property Technical Review Incubator 283

Startup Professionals Musings

JANUARY 18, 2014

Nail the business model. Leverage your customer conversations to predict and validate your business model. Don’t forget a viable financial model of costs, margins, customer acquisition, and break-even. Don’t attempt to scale it until you have a proven repeatable business model that predictably generates revenue.

Entrepreneur 283

Entrepreneur Startup Angel Investor Technical Review 283

Startup Professionals Musings

NOVEMBER 4, 2011

Every new startup I know dreams of being funded by an angel investor. A conundrum for many frustrated entrepreneurs is that they need money from investors to design and build a prototype product, yet most angel investors expect to see at least a prototype before they invest. Finalize your financial model.

Intellectual Property 249

Intellectual Property Angel Investor Technical Review Elevator Pitch 249

Startup Professionals Musings

FEBRUARY 15, 2020

In this world of constant change, new technologies, and a thousand cultures, it’s evident and somehow comforting to me that the basic rules for business prosperity really haven’t changed in the last hundred years. Business success is still more about the people than the technology or idea involved.

Technical Review 315

Technical Review Angel Investor Differentiation Business Model 315

Startup Professionals Musings

SEPTEMBER 8, 2019

Angel investors and venture capitalists don’t make equity investments in nonprofit good causes. The simple reason is that it’s impossible to make money for investors when the goal of the company is to not make money. You still start the process with a business plan, but then you look for a philanthropist rather than an investor.

Equity 235

Equity Angel Investor Technical Review Exit Strategy 235

Startup Professionals Musings

JANUARY 13, 2020

As a startup mentor, I’m always amazed that some entrepreneurs seem to be an immediate hit with investors, while others struggle to get any attention at all. Finally I realized that venture capital and angel investors are actually humans, despite some views to the contrary. Evidence of adaptability and flexibility.

Intellectual Property 316

Intellectual Property Angel Investor Early Stage Venture Capital 316

Startup Professionals Musings

NOVEMBER 12, 2022

In this world of constant change, new technologies, and a thousand cultures, it’s evident and somehow comforting to me that the basic rules for business prosperity really haven’t changed in the last hundred years. Business success is still more about the people than the technology or idea involved.

Technical Review 297

Technical Review Angel Investor Differentiation Business Model 297

Startup Professionals Musings

FEBRUARY 22, 2021

Most entrepreneurs have learned that it’s almost always quicker and easier to get cash from someone you know, rather than angel investors or professional investors (VCs). In fact, most investors “require” that you already have some investment from friends and family before they will even step up to the plate.

Technical Review 338

Technical Review Elevator Pitch Due Diligence Angel Investor 338

Startup Professionals Musings

APRIL 4, 2022

According to my experience and this Motley Fool article from a few years ago, the challenge is very real, with around half of all new businesses no longer existing after five years. My first advice for new entrepreneurs is to pick a domain that doesn’t have the sky-high up-front development costs, like online web sites and smart phone apps.

Intellectual Property 261

Intellectual Property Technical Review Incubator Bootstrapping 261

YoungUpstarts

JUNE 12, 2014

Several factors influenced my decision: We had a number of customers for our hosted solution, so we’d validated our idea and business model. Be ready to commit time to gathering funding from friends, family, banks, and angel investors. However, after 14 months, I decided it was time to take the leap.

Angel Investor 275

Angel Investor Security Cofounder Salary 275

Startup Professionals Musings

MAY 15, 2019

Nail the business model. Leverage your customer conversations to predict and validate your business model. Don’t forget a viable financial model of costs, margins, customer acquisition, and break-even. Don’t attempt to scale it until you have a proven repeatable business model that predictably generates revenue.

Startup 245

Startup Angel Investor Technical Review Incubator 245

Startup Professionals Musings

MAY 27, 2013

Investors hear this as trying to do too many things with limited resources, meaning the startup will not shine at anything, and will not survive the competition. Other elements of startup focus are a bit fuzzier, so let me zoom-in on some key ones here: Type of business model. Keep your value chain consistent.

Startup 257

Startup Technical Review Angel Investor China 257

Startup Professionals Musings

AUGUST 24, 2014

Investors hear this as trying to do too many things with limited resources, meaning the startup will not shine at anything, and will not survive the competition. Other elements of startup focus are a bit fuzzier, so let me zoom-in on some key ones here: Type of business model. Keep your value chain consistent.

Entrepreneur 257

Entrepreneur Technical Review Angel Investor China 257

Startup Professionals Musings

FEBRUARY 12, 2023

Every entrepreneur I know has their favorite excuse for a previous failure – an investor backed out, the economy took a downturn, or a supplier delivered bad quality. I certainly agree that starting a business is fraught with risk, and none of us get it all right the first time. Assume passion level defines business opportunity.

Intellectual Property 312

Intellectual Property Startup Angel Investor Viral 312

Startup Professionals Musings

SEPTEMBER 30, 2013

It doesn’t prove your business model of pricing, distribution, and support. Funding for pre-revenue startups used to be the domain of angel investors, but they have moved up-stage. Without revenue, your investors are largely limited to friends, family and fools.

Intellectual Property 281

Intellectual Property Entrepreneur Sweat Equity CTO Hire 281

Startup Professionals Musings

OCTOBER 15, 2022

As a startup mentor, I’m always amazed that some entrepreneurs seem to be an immediate hit with investors, while others struggle to get any attention at all. Finally I realized that venture capital and angel investors are actually humans, despite some views to the contrary. Evidence of adaptability and flexibility.

Intellectual Property 278

Intellectual Property Angel Investor Early Stage Venture Capital 278

Startup Professionals Musings

MARCH 21, 2020

If you are not in that rare category of known and proven entrepreneurs, you should avoid the following list of my top ten turnoffs that I have personally experienced as an angel investor. Investors are buying part of the business, not the product or service. Excuse the typos and cleanup -- I’ve been too busy to finalize.”

Technical Review 310

Technical Review Angel Investor Business Plan Social Media 310

Startup Professionals Musings

SEPTEMBER 15, 2012

Angel investors and venture capitalists don’t invest in non-profits. The simple reason is that it’s impossible to make money for investors when the goal of the company is to not make money. You still start the process with a business plan, but then you look for a philanthropist rather than an investor.

Angel Investor 218

Angel Investor Technical Review Exit Strategy Equity 218

Startup Professionals Musings

SEPTEMBER 24, 2014

If you are not in that rare category of known and proven entrepreneurs, you should avoid the following list of my top ten turnoffs that I have personally experienced as an Angel investor. Investors are buying part of the business, not the product or service.

Entrepreneur 299

Entrepreneur Technical Review Business Plan Angel Investor 299

Startup Professionals Musings

JUNE 30, 2019

According to my experience and a this Motley Fool article, the challenge is very real, with around half of all new businesses no longer existing after five years. My first advice for new entrepreneurs is to pick a domain that doesn’t have the sky-high up-front development costs, like online web sites and smart phone apps.

Intellectual Property 219

Intellectual Property Technical Review Startup Incubator 219

Startup Professionals Musings

AUGUST 31, 2012

It doesn’t prove your business model of pricing, distribution, and support. Funding for pre-revenue startups used to be the domain of angel investors, but they have moved up-stage. Without revenue, your investors are largely limited to friends, family and fools.

Intellectual Property 260

Intellectual Property Sweat Equity CTO Hire Fractional CTO 260

A Smart Bear: Startups and Marketing for Geeks

AUGUST 8, 2011

When should a company should focus on growth only, ignoring the business model and revenue? This episode was expertly co-hosted by Joshua Baer , founder of OtherInbox , progenitor of Capital Factory , angel investor , and previous founder of SKYLIST and UnsubCentral, both sold.

Cofounder 226

Cofounder Angel Investor Hosting Software Review 226

Startup Professionals Musings

OCTOBER 13, 2013

Angel investors and venture capitalists don’t invest in non-profits. The simple reason is that it’s impossible to make money for investors when the goal of the company is to not make money. You still start the process with a business plan, but then you look for a philanthropist rather than an investor.

Equity 207

Equity Angel Investor Technical Review Exit Strategy 207

Startup Professionals Musings

FEBRUARY 3, 2013

Most entrepreneurs have learned that it’s almost always quicker and easier to get cash from someone you know, rather than Angel investors or professional investors (VCs). In fact, most investors “require” that you already have some investment from friends and family before they will even step up to the plate.

Technical Review 273

Technical Review Entrepreneur Elevator Pitch Due Diligence 273

Startup Professionals Musings

JUNE 17, 2011

It doesn’t prove your business model of pricing, distribution, and support. Funding for pre-revenue startups used to be the domain of angel investors, but they have moved up-stage. Without revenue, your investors are largely limited to friends, family and fools.

Intellectual Property 253

Intellectual Property Sweat Equity CTO Hire Fractional CTO 253

Startup Professionals Musings

APRIL 19, 2014

Most entrepreneurs have learned that it’s almost always quicker and easier to get cash from someone you know, rather than Angel investors or professional investors (VCs). In fact, most investors “require” that you already have some investment from friends and family before they will even step up to the plate.

Technical Review 266

Technical Review Elevator Pitch Due Diligence Startup 266