One of the key distinctions between an entrepreneur and an operating executive is an entrepreneur’s almost seamless agility in the face of changing circumstances versus an operating executive’s intense execution focus on a plan. World-class entrepreneurs learn how to combine both. WTF? Driving home over the mountains from a Coastal Commission hearing, I had time … Continue reading “Startups: Always Have a Plan B”
Author: Steve Blank
Bonfire of the Vanities: The Difference Between Marketing and Sales in Tech
When I was in my 20s, I was taught the relationship between marketing and sales over a bonfire. — Over 30 years ago, before the arrival of the personal computer, there were desktop computers called office workstations. Designed around the first generation of microprocessors, these computers ran business applications like word processing, spreadsheets, and accounting. … Continue reading “Bonfire of the Vanities: The Difference Between Marketing and Sales in Tech”
How Scientists and Engineers Got It Right, and VCs Got It Wrong
Scientists and engineers as founders and startup CEOs is one of the least celebrated contributions of Silicon Valley. It might be its most important. ESL, the first company I worked for in Silicon Valley, was founded by a PhD in math and six other scientists and engineers. Since it was my first job, I just … Continue reading “How Scientists and Engineers Got It Right, and VCs Got It Wrong”
Reinventing the Board Meeting
[This post combines Part 1 and Part 2 of a series posted this week on Steve Blank’s blog.] As customer and agile development reinvent the Startup, it’s time to ask why startup board governance has not kept up with the pace of innovation. Board meetings that guide startups haven’t changed since the early 1900’s. It’s … Continue reading “Reinventing the Board Meeting”
Tune In, Turn On, Drop Out—The Startup Genome Project
In April 2010 I received an email that said, “I’m an incoming Stanford student in the fall and working on a project that a number of people suggested I get in touch with you about.” Ok, I get a lot of these. Is this some grad student or post doc who wanted to do some … Continue reading “Tune In, Turn On, Drop Out—The Startup Genome Project”
The Lean LaunchPad at Stanford—The Final Presentations
The Stanford Lean LaunchPad class was an experiment in a new model of teaching startup entrepreneurship. This last post – part nine – highlights the final team presentations. Parts one through eight, the class lectures, are here, Guide for our mentors is here. Syllabus is here. This is the End Class lectures were over last … Continue reading “The Lean LaunchPad at Stanford—The Final Presentations”
The Lean LaunchPad at Stanford—Class 8: Key Resources, Activities and Expense Model
The Stanford Lean LaunchPad class was an experiment in a new model of teaching startup entrepreneurship. This post—part eight—was the last formal lecture. Parts one through seven of the lectures are here, Syllabus is here. While this is the last lecture, the teams still have one more week to work on their companies, and then … Continue reading “The Lean LaunchPad at Stanford—Class 8: Key Resources, Activities and Expense Model”
The Lean LaunchPad at Stanford—Class 7: Revenue Model
The Stanford Lean LaunchPad class was an experiment in a new model of teaching startup entrepreneurship. With one week and one more updates to go, this post is part seven. Parts one through six are here, Syllabus is here. With a week to go the teams are starting to look like opening night before the … Continue reading “The Lean LaunchPad at Stanford—Class 7: Revenue Model”
The Lean LaunchPad at Stanford—Class 6: Channel Hypotheses
The Stanford Lean LaunchPad class was an experiment with a new model of teaching startup entrepreneurship. With two weeks and two more updates to go, this post is part six. Parts one through five are here, Syllabus is here. While we’ve been pushing hard on the teams, this week the teaching team was about to … Continue reading “The Lean LaunchPad at Stanford—Class 6: Channel Hypotheses”
Mentors, Coaches, and Teachers
Lots of entrepreneurs believe they want a mentor. In fact, they’re actually asking for a teacher or a coach. A mentor relationship is a two-way street. To make it work, you have to bring something to the party. A Question from the Audience Recently when I was at a conference taking questions from the audience, … Continue reading “Mentors, Coaches, and Teachers”
One Hand Clapping: Entrepreneurship in Ann Arbor
I spent a few days in March in Ann Arbor Michigan as a guest of Professor Thomas Zurbuchen, Associate Dean for Entrepreneurial Programs, and Doug Neal, Director of Center for Entrepreneurship in the Engineering School at the University of Michigan. I gave a keynote on entrepreneurship to MPowered, the student entrepreneurship organization, spoke on a … Continue reading “One Hand Clapping: Entrepreneurship in Ann Arbor”
The Lean LaunchPad at Stanford—Class 4: Customer Hypotheses
The Stanford Lean LaunchPad class was an experiment in a new model of teaching startup entrepreneurship. This post is part four. Part one is here, two is here and three is here. Syllabus is here. Week 4 of the Class Last week the teams were testing their hypotheses about their Value Proposition (their company’s product … Continue reading “The Lean LaunchPad at Stanford—Class 4: Customer Hypotheses”
Napkin Entrepreneurs
The barriers for starting a company have come down. Today the total available markets for new applications are hundreds of millions if not billion of users, while new classes of investors are popping up all over (angels, superangels, archangels, and even seraphim and cherubim have been spotted). Entrepreneurship departments are now the cool thing to … Continue reading “Napkin Entrepreneurs”
The Lean LaunchPad at Stanford—Class 3: Value Proposition Hypotheses
The Stanford Lean LaunchPad class was an experiment in a new model of teaching startup entrepreneurship. This post is part three. Part one is here, two is here. Syllabus is here. Week 3 of the class and our teams in our Stanford Lean LaunchPad class were hard at work using Customer Development to get out … Continue reading “The Lean LaunchPad at Stanford—Class 3: Value Proposition Hypotheses”
New Rules for the New Internet Bubble
We’re now in the second Internet bubble. The signals are loud and clear: seed and late stage valuations are getting frothy and wacky, and hiring talent in Silicon Valley is the toughest it has been since the dot.com bubble. The rules for making money are different in a bubble than in normal times. What are … Continue reading “New Rules for the New Internet Bubble”
The Lean Launchpad at Stanford—Class 2: Business Model Hypotheses
Our new Stanford Lean LaunchPad class was an experiment in a new model of teaching startup entrepreneurship. This post is part two. Part one is here. Syllabus here. 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 … Continue reading “The Lean Launchpad at Stanford—Class 2: Business Model Hypotheses”
A New Way to Teach Entrepreneurship: Class 1 at Stanford’s Lean Launchpad
For the past three months, we’ve run an experiment in teaching entrepreneurship. In January, we introduced a new graduate course at Stanford called the here describe the details of the class.) Get Out of the Building and test the Business Model While we were going to teach theory and frameworks, these students were going to … Continue reading “A New Way to Teach Entrepreneurship: Class 1 at Stanford’s Lean Launchpad”
A Visitor’s Guide to Silicon Valley
If you’re a visiting dignitary whose country has a Gross National Product equal to or greater than the State of California, your visit to Silicon Valley consists of a lunch/dinner with some combination of the founders of Google, Facebook, Apple, and Twitter and several brand name venture capitalists. If you have time, the president of … Continue reading “A Visitor’s Guide to Silicon Valley”
College and Business Will Never Be the Same: Philadelphia University Integrates Design, Engineering and Commerce
Education is what remains after one has forgotten everything he learned in school. —Attributed to Albert Einstein, Mark Twain and B.F. Skinner There are 4633 accredited, degree-granting colleges and universities in the United States. This weekend I had dinner with one of them—a friend who’s now the president of Philadelphia University. He’s working hard to … Continue reading “College and Business Will Never Be the Same: Philadelphia University Integrates Design, Engineering and Commerce”
Startup America—Dead on Arrival
For its first few decades Silicon Valley was content flying under the radar of Washington politics. It wasn’t until Fairchild and Intel were almost bankrupted by Japanese semiconductor manufacturers in the early 1980’s that they formed Silicon Valley’s first lobbying group. Microsoft did not open a Washington office until 1995. Fast forward to today. The … Continue reading “Startup America—Dead on Arrival”
VCs Are Not Your Friends
One of the biggest mistakes entrepreneurs make is not understanding the relationship they have with their investors. At times they confuse VCs with their friends. Let’s Go to Lunch At Rocket Science our video game company was struggling. Hubris, bad CEO decisions (mine) and a fundamental lack of understanding that we were in a “hits-based” … Continue reading “VCs Are Not Your Friends”
Startups—So Easy A 12-Year-Old Can Do It
Out of the mouths babes. Maybe because it’s a company town and everyone in Silicon Valley has a family connection to entrepreneurship. Or maybe I just encountered the most entrepreneurial 12-year-olds ever assembled under one roof. Or maybe we’re now teaching entrepreneurial thinking in middle schools. Either way I had an astounding evening as one … Continue reading “Startups—So Easy A 12-Year-Old Can Do It”
In Utah, Developing the Science of Entrepreneurship
Utah may be known for many things, but who would have thought that Utah, and particularly Brigham Young University (BYU), would be participating in the transformation of entrepreneurship? I spent last weekend in Utah at BYU as a guest of Professor Nathan Furr, (a former Ph.D. student of our MS&E department at Stanford,) where they … Continue reading “In Utah, Developing the Science of Entrepreneurship”
Startup Suicide—Rewriting the Code
The benefits of customer and agile development and minimum features set are continuous customer feedback, rapid iteration and little wasted code. But over time if developers aren’t careful, code written to find early customers can become unwieldy, difficult to maintain and incapable of scaling. Ironically it becomes the antithesis of agile. And the magnitude of … Continue reading “Startup Suicide—Rewriting the Code”
The Bad Board Member
Over the last 40 years the U.S. has evolved an entrepreneurial ecosystem with two of the most unlikely partners—venture capital investors and technology entrepreneurs. This alliance has led to an explosion of technology innovation, scalable startups and job creation. Tied at the hip, VC’s and entrepreneurs take large risks together. VC’s invest in startups with … Continue reading “The Bad Board Member”
New Models for Investing in Innovation
In November 2010 as part of my interview about entrepreneurs and Customer Development, the Shoshin Project also asked me about my thoughts on investing in innovation. They wanted some words of wisdom for their investment bank and hedge fund customers. This falls into the “Asking someone who was handy versus knowledgeable” category. (I was an … Continue reading “New Models for Investing in Innovation”
The Cover-Up Culture
In a startup “Good news needs to travel fast, but bad news needs to travel faster.” There’s something about the combination of human nature (rationalization and self deception) and large hierarchical organizations (corporations, military, government, etc.) that actively conspire to hide failure and errors. Institutional cover-ups are so ingrained that we take them for granted. … Continue reading “The Cover-Up Culture”
Creating the Next Silicon Valley—The Chilean Experiment
I spent two weeks of December in Chile as a guest of Professor Cristóbal García, Director of EmprendeUC at the Catholic University of Chile, which just signed up a 3-year collaboration partnership with Stanford’s Technology Ventures Program. I did a keynote on innovation hubs at the newly created DoFuture program, spoke at Santiago’s Startup Weekend … Continue reading “Creating the Next Silicon Valley—The Chilean Experiment”