With a ~$2 billion endowment the Kauffman Foundation is the largest non-profit focused on entrepreneurship in the world. Giving away $80 million to every year (~$25 million to entrepreneurial causes) makes Kauffman the dominant player in the entrepreneurship space.
Kauffman launched Founders School – a new education series to help entrepreneurs develop their businesses during the startup stage by highlighting how startups are different from big companies.
In January 2014 Part 1 of the “Startups” section of Founders School went online.
Now you can watch Part 2, The Lean Approach.
This group of six videos provides an overview of how to successfully do Customer Discovery. You’ll learn how to:
- get to know your customers
- devise ways to test your hypotheses
- glean insights from what you learn outside the building
- get, keep and grow customers
As in the first part of this series, I’m in good company—I’m joined in Founders School by Noam Wasserman of Harvard teaching Founder’s Dilemmas, Craig Wortmann University of Chicago covering Entrepreneurial Selling, Peter McDermott helping understand Intellectual Property, and Nathan Gold offering how to give Powerful Presentations.
These videos are not only great tutorials for founders but also provide educators with another source of well produced and curated resources.
These “Startup and The Lean Approach” videos are a great general purpose companion to my “How to Build a Startup” lectures on Udacity.
And you get a tour of my living room and office…
Introduction, for Part 2 is here
- 0:50: There are No Facts Inside Your Building — Get Outside
- 1:28: Using the Business Model Canvas
- 1:49: Use Customer Development to Test Your Hypotheses
- 2:44: What is a Pivot?
- 4:24: No Business Plan Survives First Contact with Customers
- 0:24: What is Customer Development?
- 1:09: How Do You Start the Customer Development Process?
- 1:36: Customer Discovery is a Series of Conversations
- 2:05: The Founder and Customer Development
- 3:16: Real World Example of Customer Development
- 0:31: Designing Experiments to Test Hypotheses
- 0:48: Doing Customer Discovery Without Collecting Data is a Sin
- 1:06: Insight is Key
- 1:49: Why Accountants Don’t Run Startups
- 0:18: What is a Minimum Viable Product?
- 0:38: What to Test, Why to Test and How to Test
- 2:05: You’re Not Building a Product … You’re Getting Customer Feedback
- 2:53: Use MVPs to Run Experiments
- 4:15: Real World Example of an MVP
- 0:47: Get, Keep and Grow Customers
- 1:00: Create Customer Demand
- 1:46: Customer Archetypes: Getting to Know Your Customers
- 3:35: Matching Archetypes to Acquisition
- 5:28: Growing Customers: The Lifetime Value
- 7:35: The Biggest Mistake in Customer Acquisition
Author: Steve Blank
A prolific educator, thought leader and writer on Customer Development for Startups, Steve Blank is a retired serial entrepreneur who teaches, refines, writes and blogs on “Customer Development,” a rigorous methodology he developed to bring the “scientific method” to the typically chaotic, seemingly disorganized startup process. Now teaching entrepreneurship at three major universities, Blank co-founded his first of eight startups after several years repairing fighter plane electronics in Thailand during the Vietnam War, followed by several years of defense electronics work for U.S. intelligence agencies in “undisclosed locations.” Four Steps to the Epiphany, Blank’s fast-selling book, details the Customer Development process and is increasingly a “must read” among entrepreneurs, investors, and established companies alike, when the focus is optimizing a startup’s chances for scalability and success.
After 21 years driving 8 high technology startups, today Steve teaches entrepreneurship to both undergraduate and graduate students at U.C. Berkeley’s Haas School of Business, Stanford University’s School of Engineering and the Columbia/Berkeley Joint Executive MBA program. His “Customer Development” teaching and writing coalesce and codify his experiences and observations of entrepreneurs in action, including his own and those he advises. “Once removed from the day-to-day intensity of founding a startup, I was able to observe a pattern that distinguishes successful startups from failures,” Blank says. In 2009, he earned the Stanford University Undergraduate Teaching Award in Management Science and Engineering. The San Jose Mercury News listed him as one of the 10 Influencers in Silicon Valley. In 2010, he was earned the Earl F. Cheit Outstanding Teaching Award at U.C. Berkeley Haas School of Business. Despite these accolades, Steve says he might well have been voted “least likely to succeed” in his New York City high school class.
Steve Blank arrived in Silicon Valley in 1978, as boom times began. His early startups include two semiconductor companies, Zilog and MIPS Computers; Convergent Technologies; a consulting stint for Pixar; a supercomputer firm, Ardent; peripheral supplier, SuperMac; a military intelligence systems supplier, ESL; Rocket Science Games. Steve co-founded startup number eight, E.piphany, in his living room in 1996. In sum: two significant implosions, one massive “dot-com bubble” home run, several “base hits,” and immense learning leading to The Four Steps.
An avid reader in history, technology, and entrepreneurship who seldom cracks a novel, Steve has followed his curiosity about why entrepreneurship blossomed in Silicon Valley while stillborn elsewhere. It has made him an unofficial expert and frequent speaker on “The Secret History of Silicon Valley.”
Steve’s interest in combining conservation with best business practices had Governor Arnold Schwarzenegger appoint him a Commissioner of the California Coastal Commission, the public body which regulates land use and public access on the California coast. He also serves on the Expert Advisory Panel for the California Ocean Protection Council. Steve serves on the board of Audubon California, was its past chair, and spent several years on the Audubon National Board. A board member of Peninsula Open Space Land Trust (POST), Blank recently became a trustee of U.C. Santa Cruz and a Director of the California League of Conservation Voters (CLCV). Steve’s proudest startups are daughters Katie and Sara, co-developed with wife Alison Elliott. The Blanks live in Silicon Valley.
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