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After 20 years of working in startups, I decided to take a step back and look at the productdevelopment model I had been following and see why it usually failed to provide useful guidance in activities outside the building – sales, marketing and business development. So what’s wrong the productdevelopment model?
Massive liquidity awaited the first movers to the IPO’s, and that’s how they managed their portfolios. They needed to be sure that what they were building was what customers wanted and needed. And to be honest, VC’s in this bubble really didn’t care.
I’ve recently advised a number of emerging private equity and VC funds who are wrestling with the question: What are the highest impact steps they can take to support their portfolio companies? . Almost every private equity and venture capital investor now advertises that they have a platform to support their portfolio companies.
kaChing launched a virtual portfolio management game on Facebook in January 2008 and a similar version shortly thereafter on kaChing.com. Because kaChing prefers its portfolio managers to have a long track record, the marketplace launch (i.e., A portfolio manager’s entire track record & holdings had to be disclosed.
Both venture firms sought my advice for their portfolio companies. I was between my 7th and 8th and final startup; licking my wounds from Rocket Science, the company I had cratered as my first and last attempt as a startup CEO. It was a long way from Ellis Island.) Surprisingly, I enjoyed seeing other startups from an outsider’s perspective.
Customer/Market Risk Versus Invention Risk One day I was having lunch with a VC sharing what I learned from my students. Steve,&# he said, “you’re missing the most interesting part of vertical markets. For example, complex new semiconductor architectures, (i.e. How would that change my company strategy?
Talking to potential customers and competitors customers. Managers in this area have to take a portfolio approach, promoting ideas that work and might make good candidates for further investment. The Entrepreneur’s Guide to CustomerDevelopment ► June (3) What is a startup? What is customerdevelopment?
Lean Methodology consists of three tools designed for entrepreneurs building new ventures: The Business Model Canvas – to write down all the hypotheses about a new business; CustomerDevelopment – a process for testing those hypotheses outside the building; Agile Engineering – to rapidly build minimal viable products to test product/market fit.
portfolio operator VCs, e.g., Andreessen Horowitz, ff Venture Capital, First Round Capital, Google Ventures. Customerdevelopment would be reduced to a single person exercise that could be repeated in parallel dozens of times over, ultimately yielding 30+ companies a year. mentor VCs, e.g., most VCs. Our model at Casual Corp.
They have many, many man-years of development and customerdevelopment in them. You have your general management meeting and in your general management meeting you talk about productdevelopment, about marketing and about finance. Edwin: There are a million others. It’s bundled in different groups.
In addition to supporting their portfolio companies in coming to the event, they also have taken the additional step of underwriting a limited number of discounted tickets that are available to the general public. The Entrepreneur’s Guide to CustomerDevelopment ► June (3) What is a startup?
Discounted Tickets As part of their sponsorship, Baseline is offering discounted tickets to their portfolio companies. Discounted Tickets As part of their sponsorship, Baseline is offering discounted tickets to their portfolio companies. The Entrepreneur’s Guide to CustomerDevelopment ► June (3) What is a startup?
Hes a very smart guy who, as a Sequoia portfolio CEO, can tell you all about the " RIP good times " strategy. The Entrepreneur’s Guide to CustomerDevelopment ► June (3) What is a startup? The format is Q&A around a conference table with four "speakers" and a moderator.
Steve Blank on Lean CustomerDevelopment. Great for visualizing work of productdevelopment. CustomerDevelopment. VC Portfolios. Read post Why Learning should be your top 2013 new year’s resolution  for a full list. Codeacademy. Lean Methodology Sources. Steve Blank. SW Courses. Part 1- Intro.
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