Startup Professionals Musings

FEBRUARY 12, 2023

In that spirit, I offer my perspective on ten common startup failure sources that rarely get admitted by entrepreneurs: Choose to skip the written business plan. A business plan is for you first, not investors. Even non-profits need a profitable business model to offset staff and operating costs.

Intellectual Property 312

Intellectual Property Startup Angel Investor Viral 312

Startup Professionals Musings

JULY 1, 2013

Starting a business is a lot like starting a marriage. Product development is stuck at that 90% mark, a key person leaves, and customers are talking but not buying. Or the economy has taken a sudden turn for the worse, so your high-end product no longer has a market. But all too soon, reality sets in.

Founder 250

Founder Startup Software Development Software Developers 250

Startup Professionals Musings

MAY 24, 2012

Starting a business is a lot like starting a marriage. Product development is stuck at that 90% mark, a key person leaves, and customers are talking but not buying. Or the economy has taken a sudden turn for the worse, so your high-end product no longer has a market. But all too soon, reality sets in.

Software Development 229

Software Development Software Developers Business Model Product Development 229

Steve Blank

SEPTEMBER 5, 2018

Startups wrote business plans, generated expansive 5-year forecasts and executed (hired, spent and built) to the plan. First Movers” didn’t understand customer problems or the product features that solved those problems (what we now call product-market fit). Every startup is in a race against time.

Lean 335

Lean Burn Rate Startup IPO 335

Gust

APRIL 27, 2014

Develop your business plan. Write down the key elements of your business plan very early, and keep it current as things evolve. Product development process.

Startup 187

Startup Institutional Investors Angel Investor Bootstrapping 187

Steve Blank

MAY 6, 2015

Waterfall Development. While it sounds simple , the Build Measure Learn approach to product development is a radical improvement over the traditional Waterfall model used throughout the 20 th century to build and ship products. activities necessary to implement the business model. Testing Hypotheses.

Lean 120

Lean Agile Business Model Customer Development 120

Steve Blank

NOVEMBER 1, 2010

With an out-of-this-world business plan. When it was spun out as a a separate company, Iridium’s 1990 business plan had assumptions about potential customers, their problems and the product needed to solve that problem. A Business Plan Frozen in Time. This business plan was a static document.

Business Plan 335

Business Plan Customer Business Model Customer Development 335

The Startup Magazine

JUNE 17, 2021

Big data is a prominent subject for many businesses around the world, and for those of you who operate entirely online enterprises, studying statistics and numbers is perhaps even more important, and, can be convenient using online business education. Is it Worth it?

Analytics 179

Analytics Technical Review Social Media Software Review 179

SoCal CTO

DECEMBER 1, 2010

No Business Plan Survives First Contact With A Customer – The 5.2 few years ago I also started following Alexander Osterwalder in his blog about his Business Model Generation -mantra. Online Video on Lies About Business Planning - Up and Running , November 19, 2010 Business plans are a waste of time?

Technical Review 175

Technical Review Technology Product CTO Hire 175

The Startup Magazine

AUGUST 11, 2023

It is necessary to cover the early stages of product development, thorough market research, and other processes during the initial step. Seed capital is a component of the initial investments made in young businesses. During the pre-seed fundraising stage, investors need a viable business plan to base their investments on.

Seed Stage 148

Seed Stage Technical Review Early Stage Due Diligence 148

Startup Professionals Musings

MARCH 11, 2010

Starting a business is a lot like starting a marriage. Product development is stuck at that 90% mark, a key person leaves, and customers are talking but not buying. Or the economy has taken a sudden turn for the worse, so your high-end product no longer has a market. But all too soon, reality sets in.

Software Development 122

Software Development Software Developers Business Model Design 122

Steve Blank

MARCH 15, 2011

By now the nine teams in our Stanford Lean LaunchPad Class were formed, In the four days between team formation and this class session we tasked them to: Write down their initial hypotheses for the 9 components of their company’s business model (who are the customers? what’s the product? what distribution channel?

Business Model 239

Business Model Nebraska Peru Germany 239

Startup Professionals Musings

APRIL 3, 2016

In that spirit, I offer my perspective on ten common startup failure sources that rarely get admitted by entrepreneurs: Choose to skip the written business plan. A business plan is for you first, not investors. Even non-profits need a profitable business model to offset staff and operating costs.

Intellectual Property 120

Intellectual Property Startup Angel Investor Viral 120

Startup Professionals Musings

APRIL 1, 2015

In that spirit, I offer my perspective on ten common startup failure sources that rarely get admitted by entrepreneurs: Choose to skip the written business plan. A business plan is for you first, not investors. Even non-profits need a profitable business model to offset staff and operating costs.

Intellectual Property 120

Intellectual Property Angel Investor Viral Distribution 120

Steve Blank

MAY 14, 2012

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. Executives look at that date and the calendar, working backward to ignite fireworks on the day the product is launched.

Balance Sheet 335

Balance Sheet Business Model Customer Development Metrics 335

Startup Professionals Musings

JANUARY 18, 2021

Angel investors and venture capitalists are looking for startups with real products and a proven business model, ready to scale. Yet I still get too many business plans that clearly are looking for money to do research and development (R&D) on a new and unproven technology. Business commercialization.

Early Stage 412

Early Stage Angel Investor Incubator Government 412

Steve Blank

MARCH 4, 2014

The Enterprise: Business Model Execution We know that a startup is a temporary organization designed to search for a repeatable and scalable business model. The corollary for an enterprise is: A company is a permanent organization designed to execute a repeatable and scalable business model.

IRR 335

IRR Startup Business Model Agile 335

Steve Blank

MAY 18, 2009

Next, you have to deal with the daily crisis of product development and acquiring early customers. And here’s where life gets really interesting, as the reality of product development and customer input collide, the facts change so rapidly that the original well-thought-out business plan becomes irrelevant.

Founder 312

Founder Silicon Valley RSS China 312

The Next Web

AUGUST 26, 2012

Develop a strong backbone. The backbone of your technology company revolves around a well-organized, up-to-date, specific and documented vision, brand-key, business plan, intellectual property rights, contracts, financial administration, NDAs and bylaws it can rely on. Again, make sure you can decide whom to ‘marry’.

Bankruptcy 121

Bankruptcy Technical Review Intellectual Property Due Diligence 121

Steve Blank

NOVEMBER 18, 2010

The revenue numbers and revenue model came from a startups original Business Plan. A business plan has a set of assumptions (who’s the customer, what’s the price, what’s the channel, what are the product features that matter, etc.) that make up a business model. Ritualized Crises.

Burn Rate 252

Burn Rate Management Business Model Customer Development 252

Startup Professionals Musings

APRIL 13, 2015

Angel investors and venture capitalists are looking for startups with real products and a proven business model, ready to scale. Yet I still get too many business plans that clearly are looking for money to do research and development (R&D) on a new and unproven technology. Business commercialization.

Product Development 120

Product Development Developer Product Angel Investor 120

Up and Running

JULY 2, 2014

Picking the right attorney in your startup is as important as picking the right business partner. You can’t underestimate the importance of selecting an attorney who “gets” your business model, your market opportunity, and most importantly, your fundraising and exit strategy. The deal we made with him was he’d get 33.3%

Technical Review 118

Technical Review Angel Investor Due Diligence Dilution 118

Up and Running

FEBRUARY 10, 2021

A key to making this entire process much easier is to invest a little time and write a business plan. It’s true — not all investors will ask to see your business plan. Why do investors want to see a business plan? The business plan document itself isn’t what’s important to investors.

Business Plan 138

Business Plan Forecast Balance Sheet Exit Strategy 138

Startup Professionals Musings

JULY 12, 2020

That means they normally only invest in startups with a working product that has already been sold to at least one customer for full price (beta tests, giveaways and best friends don’t count). They are willing to cover marketing, inventory and scaling, but not product development. Make your focus and priorities clear.

Elevator Pitch 336

Elevator Pitch Salary Angel Investor Viral 336

Startup Professionals Musings

OCTOBER 2, 2023

Angel investors and venture capitalists are looking for startups with real products and a proven business model, ready to scale. Yet I still get too many business plans that clearly are looking for money to do research and development (R&D) on a new and unproven technology. Business commercialization.

Angel Investor 256

Angel Investor Early Stage Incubator Government 256

Startup Professionals Musings

MAY 4, 2014

Develop your business plan. Write down the key elements of your business plan very early, and keep it current as things evolve. Product development process.

Startup 268

Startup Institutional Investors Angel Investor Bootstrapping 268

Startup Professionals Musings

SEPTEMBER 7, 2011

Develop your business plan. Write down the key elements of your business plan very early, and keep it current as things evolve. Product development process.

Startup 255

Startup Institutional Investors Angel Investor Bootstrapping 255

Up and Running

MAY 23, 2016

Step 1: Start with a lean plan. Instead of sitting down to write a 40-page business plan, start with a one-page pitch. It’s the fastest way to get your idea onto paper, and it’s the very first step in the lean planning process, which is much easier and more iterative than traditional business planning methods.

Software Review 74

Software Review Software Delaware Forecast 74

Startup Professionals Musings

MAY 31, 2014

That means they normally only invest in startups with a working product that has already been sold to at least one customer for full price (beta tests, giveaways and best friends don’t count). They are willing to cover marketing, inventory and scaling, but not product development. Make your focus and priorities clear.

Elevator Pitch 285

Elevator Pitch Salary Angel Investor Viral 285

Startup Professionals Musings

AUGUST 1, 2010

Develop your business plan. Write down the key elements of your business plan very early, and keep it current as things evolve. Product development process.

Startup 239

Startup Institutional Investors Angel Investor Bootstrapping 239

Startup Professionals Musings

JANUARY 12, 2013

See how many you have personally experienced already, or are currently mentioned in your business plan: Crowd-sourcing equity. Minimum Viable Product (MVP). It suggests the minimum features to allow the product to be deployed and get feedback, and no more. Osmosis marketing.

Entrepreneur 274

Entrepreneur Accredited Investor Silicon Valley Angel Investor 274

Duct Tape Marketing

APRIL 6, 2022

You know, could you look at my business plan? See if the business model works, all these questions. So if you're running a small business, usually what you're doing, if it's a consulting business or any type of business, you are doing something similar to what other people have done in the past.

San Francisco 101

San Francisco Technical Review Incubator Silicon Valley 101

Startup Professionals Musings

JANUARY 31, 2013

Develop your business plan. Write down the key elements of your business plan very early, and keep it current as things evolve. Product development process.

Institutional Investors 230

Institutional Investors Angel Investor Bootstrapping Database 230

Software By Rob

AUGUST 5, 2010

The knowledge that you need 10,000 hours to master a subject, that certain trends become viral after the 412th person adopts it, or that you should make your product remarkable, is not going to help you launch. Nor will it save you a single minute during product development, or sell one more copy of your application.

Founder 78

Founder Startup Software Review Software 78

Up and Running

OCTOBER 8, 2015

Instead, we built a product first (that’s expensive!) and then started hunting around for the right target market (that’s usually the cheap part of product development). See Also: How Not Doing Market Research Sunk My Business. Don’t just do it to fill in a section of your business plan.

Marketing 60

Marketing CTO Hire Forecast Finder 60

Steve Blank

JANUARY 10, 2011

The VP of an operating division had run into trouble in product development; the product was late and getting later. The revenue plan had the new product baked into the numbers and it was clear that this division General Manager was going to crater his forecast (happens all the time, nothing new here.)

Forecast 271

Forecast Agile Founder Revenue 271

Startup Professionals Musings

APRIL 7, 2023

That means they normally only invest in startups with a working product that has already been sold to at least one customer for full price (beta tests, giveaways and best friends don’t count). They are willing to cover marketing, inventory and scaling, but not product development. Make your focus and priorities clear.

Elevator Pitch 228

Elevator Pitch Salary Angel Investor Viral 228