conversionxl.com

SEPTEMBER 10, 2013

It’s Not a Conversion Problem, It’s a Customer Development Problem. This is a customer development problem. So What is Customer Development? The core idea behind customer development is that the assumptions you make about a target market are only guesses. sustainable business.

Customer Development 60

Customer Development Conversion Developer Customer 60

Steve Blank

OCTOBER 15, 2019

They’ll use government regulation and lawsuits to keep out new entrants with more innovative business models. Metrics are used to manage process rather than creation of new capabilities, outcomes and speed to deployment. are obstacles for innovation.

Government 322

Government Technical Review Acquisition Metrics 322

Steve Blank

AUGUST 21, 2013

What we found is that during the class almost all of them pivoted - making substantive changes to one or more of their business model canvas components. In the real world a big pivot in life sciences far down the road of development is a very bad sign due to huge sunk costs. Class starts Oct 1 st and runs through Dec 10 th.

SBIR 321

SBIR Technical Review Lean Startup 321

Steve Blank

MARCH 4, 2010

One of the principles of Customer Development is to get out of the building and understand the smallest feature-set customers will pay for in the first release.). Soon you have a ten page feature list just to sell ten customers. Most customers will not want a product with a minimal feature set. Lessons Learned.

Customer Development 313

Customer Development Business Model Developer Search 313

Steve Blank

AUGUST 3, 2012

Long before there was the Lean Startup, Business Model Canvas or Customer Development there was a guy in Santa Barbara California who had already figured it out. I want to tell you a story about how a team pivoted and succeeded by synchronizing product and customer development. ———-.

San Jose 261

San Jose Technical Review Customer Development Software Review 261

Steve Blank

JUNE 26, 2015

The first, the notion of the “ ambidextrous organization ” from O’Reilly and Tushman , posits that companies that want to do continuous innovation need to execute their core business model while innovating in parallel. Horizon 1 activities support existing business models. Horizon 1 is the company’s core business.

Lean 120

Lean Management Business Model Incubator 120

Steve Blank

MARCH 3, 2015

It taught lean theory ( business model design , customer development and agile engineering) and practice. The irony is that once you’ve gone through the lean cycle, you have all the information that goes in a business plan: customers, sales strategy, product features, and financial metrics.

Business Plan 120

Business Plan Silicon Valley Saudi Arabia Lean 120

Steve Blank

FEBRUARY 23, 2016

As we prepared for the new Hacking for Defense class at Stanford, we had to stop and ask ourselves: How do we use the Business Model Canvas if the primary goal is not to earn money, but to fulfill a mission? In other words, how can we adapt the Business Model Canvas when the metrics of success for an organization is not revenue?

Business Model 120

Business Model Revenue Channel Community 120

Steve Blank

JULY 13, 2021

Founders of startups (and new ventures inside existing companies) are searching for product/market fit and a repeatable and scalable business model. An entrepreneur must start with the belief that all their assumptions are simply hypotheses that will undoubtedly be challenged by what they learn from customers. experiential.

Lean 436

Lean Agile Business Model Business Plan 436

Up and Running

DECEMBER 6, 2012

Lean Planning is a set of tools for discovering a business model that works, building an action plan to test your assumptions, creating financial models and a plan for a viable business, and tracking your performance so you can adjust your plan on the fly, quickly and easily. Do startups have a manual?

Lean 147

Lean Silicon Valley Forecast Technical Review 147

Steve Blank

NOVEMBER 25, 2013

Investors sitting through Incubator or Accelerator demo days have three metrics to judge fledgling startups – 1) great looking product demos, 2) compelling PowerPoint slides, and 3) a world-class team. Teams can prove their competence and validate their ideas by showing investors evidence that there’s a repeatable and scalable business model.

Oakland 330

Oakland Incubator Lean Metrics 330

Startup Lessons Learned

SEPTEMBER 22, 2008

Lessons Learned by Eric Ries Monday, September 22, 2008 The three drivers of growth for your business model. Master of 500 Hats: Startup Metrics for Pirates (SeedCamp 2008, London) This presentation should be required reading for anyone creating a startup with an online service component. Choose one.

San Francisco 167

San Francisco CPA SEM CTO Hire 167

Steve Blank

DECEMBER 17, 2009

Gathering real-world feedback from customers is a core concept of Customer Development as well as the Lean Startup. When I asked him if he actually had personally left the building and talked to these potential customers, or even had gotten them on the phone, he sounded confused. Customer needs are non-deterministic.

Metrics 243

Metrics Customer Customer Development Lean 243

Steve Blank

JANUARY 28, 2014

0:43: Business Plans versus Business Models. 2:21: Accounting Metrics in a Large Company vs. Metrics that Matter in a Startup. 6:07: Engineering: Waterfall Development in a Large Company vs. Metrics that Matter in a Startup. 1:28: Using the Business Model Canvas. 2:44: What is a Pivot?

Founder 331

Founder Intellectual Property Lean Customer Development 331

Steve Blank

OCTOBER 11, 2016

And not keep investors informed about changes to your business model can have serious consequences. We did three iterations of the product in less than 12 months, each one progressively going off of different consumer metrics that we found and then partner feedback. Filed under: Customer Development , SiriusXM Radio Show.

Columbus 249

Columbus Entrepreneur Cofounder Ohio 249

Steve Blank

JUNE 21, 2017

6:22 What’s Customer Development. 8:05 Business Model Canvas – Alexander Osterwalder. 32:05 No Innovation Pipeline, Guidance or Metrics. Or just parts of the interview: 1:20 Failure and Lessons Learned. 2:35 The origins of the Lean Startup. 7:11 Agile Engineering – Eric Ries.

Silicon Valley 258

Silicon Valley Lean Government Boston 258

Occam's Razor

APRIL 8, 2013

To win in business you need to follow this process: Metrics > Hypothesis > Experiment > Act. We are far too enamored with data collection and reporting the standard metrics we love because others love them because someone else said they were nice so many years ago. That metric is tied to a KPI.

Metrics 157

Metrics Analytics Lean Churn Rate 157

Steve Blank

MARCH 4, 2014

These groups are adapting or adopting the practices of startups and accelerators – disruption and innovation rather than direct competition, customer development versus more product features, agility and speed versus lowest cost. Every large company, whether it can articulate it or not, is executing a proven business model (s).

IRR 335

IRR Startup Business Model Agile 335

Steve Blank

JULY 1, 2014

Investors sitting through Incubator or Accelerator demo days have three metrics to judge fledgling startups – 1) great looking product demos, 2) compelling PowerPoint slides, and 3) a world-class team. a language corporate innovation groups can use to communicate to business units and finance.

Sacramento 314

Sacramento Framework Lean Customer Development 314

Steve Blank

FEBRUARY 9, 2012

In fact, you could say that all that remains from my last book are the four steps of Customer Development. Integrates Alexander Osterwalders “Business Model Canvas” as the front-end and “scorecard” for the customer discovery process. Startups search for business models, exisitng companies execute them.

Entrepreneur 298

Entrepreneur Lean Business Model Customer Development 298

Steve Blank

JUNE 23, 2016

As a consequence, corporations used metrics like return on net assets (RONA), return on capital deployed, and internal rate of return (IRR) to measure efficiency. These metrics make it difficult for a company that wants to invest in long-term innovation. These resulting business models made them look incredibly profitable.

Architecture 227

Architecture IRR Balance Sheet Liquidity Event 227

Steve Blank

NOVEMBER 8, 2013

In this case the basis of competition on the X/Y axes are metrics defined by the users in the existing market. The Petal Diagram drives your business model canvas. What the chart is saying is, “we think our customers will come from these markets.” Filed under: Customer Development , Teaching , Venture Capital.

Venture Capital 336

Venture Capital Customer Development Business Model Lean 336

Steve Blank

FEBRUARY 22, 2010

Startups that are searching for a business model need to keep score differently than large companies that are executing a known business model. Yet most entrepreneurs and their VC’s make startups use financial models and spreadsheets that actually hinder their success. Managing the Business. Startup Metrics.

Balance Sheet 307

Balance Sheet Startup Burn Rate Metrics 307

Startup Lessons Learned

JANUARY 10, 2011

I hear similar things for pre-revenue startups that are on schedule, on time, and on budget - even though they are busy building something that nobody wants. (In In fact, this crisis was at the heart of Steve Blank ’s original impetus to develop customer development as an alternative set of milestones to use for startups.)

Silicon Valley 167

Silicon Valley San Francisco Lean Investment Bankers 167

Steve Blank

MAY 14, 2012

The excerpts, which appeared first at Inc.com , highlight the Customer Development process, best practices, tips and instructions contained in our book. They learn from the results of each test, refine the hypothesis, and test again—all in search of a repeatable, scalable, and profitable business model.

Balance Sheet 335

Balance Sheet Business Model Customer Development Metrics 335

SoCal CTO

JUNE 9, 2010

They’re deep into Customer Development ,” he said. Solving the "marketplace" business model - A Smart Bear: Startups and Marketing for Geeks , May 10, 2010 A sizable percentage of Capital Factory startup submissions take the form of the "marketplace." Here’s why. Your Process Doesn’t Work.

Fractional CTO 248

Fractional CTO Startup Venture Capital Cofounder 248

Steve Blank

DECEMBER 7, 2010

Business schools teach aspiring executives a variety of courses around the execution of known business models, (accounting, organizational behavior, managerial skills, marketing, operations, etc.). In contrast, startups search for a business model. (Or Their objective is to get users, orders, customers, etc.

Wiki 318

Wiki Lean Management Business Model 318

Steve Blank

NOVEMBER 7, 2013

For most big, established companies like us, our business models were developed years—even decades ago. We’ve built up strength in executing our business model, not creating new ones. 21st century corporate survival requires companies to continually create a new set of businesses by inventing new business models.

Lean 331

Lean Nepal Cofounder Customer Development 331

Steve Blank

MARCH 11, 2015

And worse, even if someone does manage to start something new, our management structure has so many financial, legal and HR hurdles that every initiative needs to match our existing business financial metrics, processes and procedures. That means in their core business, large companies have a series of knowns. Lessons Learned.

Widget 120

Widget Lean Business Model Metrics 120

Steve Blank

JUNE 5, 2018

We describe their efforts as “heroic” because all the established procedures and processes in a large company are primarily designed to execute and support the current business model. Some examples of innovation tools are Customer Development, Design Thinking, User-Centric Design, Business Model Canvas, Storytelling, etc.

Programming 326

Programming Incubator Leadership Silicon Valley 326

Steve Blank

OCTOBER 11, 2016

And not keep investors informed about changes to your business model can have serious consequences. We did three iterations of the product in less than 12 months, each one progressively going off of different consumer metrics that we found and then partner feedback. Filed under: Customer Development , SiriusXM Radio Show.

Columbus 120

Columbus Entrepreneur Cofounder Ohio 120

Steve Blank

JUNE 1, 2011

Reinventing the board meeting may offer venture-backed startups a more efficient, productive way to direct and measure their search for a profitable business model. Yet boards of large companies exist to monitor efficient strategy and execution of a known business model. The Wrong Metrics. The Wrong Discussion s.

Silicon Valley 300

Silicon Valley Business Model Venture Capital Balance Sheet 300

Steve Blank

SEPTEMBER 14, 2009

It may just be that the message of building companies that have predictable revenue and profit models hasn’t percolated through the VC business model. Unfortunately, regardless of a VC’s age, their business models are suffering and IPOs seem to be a thing of the past for at least a while longer. Warning sign?

Silicon Valley 236

Silicon Valley IPO Technical Review Venture Capital 236

Steve Blank

JUNE 1, 2011

Reinventing the board meeting may offer venture-backed startups a more efficient, productive way to direct and measure their search for a profitable business model. Yet boards of large companies exist to monitor efficient strategy and execution of a known business model. The Wrong Metrics. The Wrong Discussion s.

Silicon Valley 273

Silicon Valley Business Model Venture Capital Balance Sheet 273

David Teten

APRIL 1, 2021

For instance, tracking ‘months-of-runway’ combined with the month-over-month change to that metric allows us to rapidly identify companies that may be distressed. Customer Development. A well-developed model is Andreessen Horowitz’s Executive Briefing Center.

Private Equity 78

Private Equity Venture Capital Portfolio Equity 78

Steve Blank

JANUARY 25, 2010

In this post we’re going to offer a new definition of why startups exist : a startup is an organization formed to search for a repeatable and scalable business model. A Business Model. Ok, but what is a business model ? A business model describes how your company creates, delivers and captures value.

Agile 335

Agile Startup Silicon Valley Business Model 335

Startup Lessons Learned

SEPTEMBER 15, 2008

The application of agile development methodologies which dramatically reduce waste and unlock creativity in product development. See Customer Development Engineering for my first stab at articulating the theory involved) Ferocious customer-centric rapid iteration, as exemplified by the Customer Development process.

Lean 168

Lean San Francisco Startup Continuous Deployment 168