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We didn’t know it at the time, but with that investment we had paid for front-row VIP seats to witness the origins of CustomerDevelopment and the Lean Startup. Now the students spend time in customer discovery and learn why validating the business model for their device is so important.
In my roles as CTO for various startups, its been an interesting repeating cycle for the CTO to have to wear lots of hats especially in the early days: from start-up systems architect to code monkey to development manager to ops manager then finally to CTO as the business scales over time and these roles warrant dedicated full-time staff.
Much of the writing on startups focuses on two elements: finding product-market fit scaling the company once #1 is accomplished For product-market fit, we have a lot of source material to work with from the last decade: Steve Blank’s leadership on CustomerDevelopment , and Eric Ries’ on the Lean Startup ?—?along
The short answer was no and whilst many of the businesses present had a large technology component to their company, with customdeveloped software etc they could not present themselves as a tech company. All lending companies need to stop being so safe, so repeatable, so traditional and dare one say it male-oriented.
A standard programmer who writes “generic&# LAMP or C++ is easily replaceable and therefor warrants little ownership unless finding cash to pay a replacement is tight. Early stage funding often bets subsatntial equity because the founders have liitle choices and thus the worth of the investor is really quite high. This is a great post.
If not, maybe an investment in that direction would be more warranted. If not, maybe an investment in that direction would be more warranted. The Entrepreneur’s Guide to CustomerDevelopment ► June (3) What is a startup? There are two principal reasons why this second approach is better.
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. Lastly, I would suggest a range of equity or warrants is offered, vs. a fixed amount. Our model at Casual Corp. Even more importantly: they went through it.
I agree that listening and communicating is a key to success, but customerdevelopment can only do so much. There was also a litany of errors made in determining which developers had in fact passed UFI products into the catalog warranting their punishment. Eric September 13, 2009 11:32 AM Joel Andren said.
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