Greatest risk is not development of new product, but development of customers and markets Steve Blank More Quotes by Steve Blank More Quotes From Steve Blank Using the Product Development Waterfall diagram for Customer Development activities is like using a clock to tell the temperature. They both measure something, but not the thing you wanted. Steve Blank waterfalls trust development One of the mistakes we'll make because we're human beings is to believe that your vision is a fact. That's the natural optimism of human beings. Steve Blank optimism mistake believe Business plans are the tool existing companies use for execution. They are the wrong tool to search for a business model. Steve Blank execution tools use For students to understand what the future of journalism is going to be, they're going to have to invent it. It's a big idea. We don't know what journalism is going to look like in the next three years, let alone the next 10 years. Steve Blank three years ideas I think Uber has an enormous number of moves as a public company, they have a CEO who is exactly the right guy for the transition to Wall Street. All they could do now is screw it up. Steve Blank business There is no evidence the core ride-hailing business is profitable. Steve Blank business Schools reward their students for a combination of intelligence, perseverance, and hard work - in the classroom and on the playing fields. But these metrics don't help kids understand that great grades are not a pass for a great life. Steve Blank perseverance hard-work work life 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 customer vision business process Face-to-face customer feedback refines or validates every component of the startup's business model, not just the product itself. Steve Blank customer product feedback business At the intersection of food science and technology, food replacement startups are creating substitutes for the basic components of meals as well as replacements for complete meals. Steve Blank well technology food science Products are sold because they solve a problem or fill a need. Understanding problems and needs involves understanding customers and what makes them tick. Steve Blank problems need understanding problem When your product solves a problem that costs customers sleep, revenue, or profits, things are definitely looking up. Steve Blank your looking problem sleep The Value Proposition Canvas functions like a plug-in to the Business Model Canvas and zooms into the value proposition and customer segment to describe the interactions between customers and product more explicitly and in more detail. Steve Blank customer detail value business It's worth noting that everything - from the Internet to electric cars, genomic sequencing, mobile apps, and social media - were pioneered by startups, not existing companies. Steve Blank worth social-media internet media The convergence of digital trends, along with the rise of China and globalization, has upended the rules for almost every business in every corner of the globe. Steve Blank rules globalization digital business Entrepreneurial education in grades K-12, if it exists at all, still focuses on teaching potential entrepreneurs small business entrepreneurship - the equivalent of 'how to run a lemonade stand.' Steve Blank stand grades business education Innovation in an existing company is not just the sum of great technology, key acquisitions, or smart people. Corporate innovation needs a culture that matches and supports it. Steve Blank innovation technology culture people The goal of listening to customers is not to please every one of them. It's to figure out which customer segments serve your needs - both short and long term. Steve Blank customer short listening long The business model is both the starting point and the scorecard for Customer Development progress. Steve Blank customer point progress business Not all new ventures are at the same stage of maturity. Steve Blank same new stage maturity
