Startups are companies that are still in the process of searching for a business model. Ventures that are further along and executing their business models are no longer startups; they are early-stage companies. Steve Blank Read Quote
The food replacement category is what it sounds like – companies are substituting plants or food grown in a lab to replace meat, fish, eggs, milk – or, like Soylent, to package nutritionally complete meals into a drink. Steve Blank Read Quote
Persuading employees to let go of old values and beliefs and adopt new ones can be challenging. Steve Blank Read Quote
What’s been missing from regions outside of Silicon Valley is a ‘playbook.’ In American football, a playbook contains a sports team’s strategies and plays. It struck me that every region needs its own industry playbook on how to compete globally. Steve Blank Read Quote
Any dispassionate observer would recognize that on Day One, a start-up has no customers, and unless the founder is a true domain expert, he or she can only guess about the customer, problem, and business model. Steve Blank Read Quote
We now understand the distinction between startups – who search for a business model – versus existing companies – that execute a business plan. Steve Blank Read Quote
When your product solves a problem that costs customers sleep, revenue, or profits, things are definitely looking up. Steve Blank Read Quote
Customer discovery is the process of translating a founder’s vision for the company into hypotheses about each component of the business model and creating a set of experiments to test each hypothesis. Steve Blank Read Quote
