steve blank
@sgblank
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Customer Development & Secret History, Teaching at Stanford and Columbia
Silicon Valley
Joined March 2009
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Pinned Tweet
The measure of a life is not time. It’s the impact you make serving God, your family, community, and country. Your report-card is whether the world is a better place.
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Remove people from the room who’s first response/mindset to a new idea are all the reasons why of “it can’t work”. Engage them later for critiques.
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Innovation occurs under adversity, scarcity, necessity and fearlessness.
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Stay away from consultants who want to prove they're the smartest people in your building. Hire those who want to make _you_ the smartest people in the building.
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Leaders are visionaries with a poorly developed sense of fear and no concept of the odds against them
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VC's are walking away from term sheets, offering flat rounds if you're lucky. The vultures are circling. Bad behavior happens at every crash. Entrepreneurs will remember.
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A startup is no longer built on a single innovation. It needs to be continuously innovating –and who best to do that? The founders.
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Amateurs practice until they get it right, but professionals practice until they can’t get it wrong
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VC funding for startups isn't exploding, it's taking the place of IPOs. More than half the capital is going to "Unicorn Rounds." Brilliant analysis of the state of risk capital by
@msuster
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A startup celebrating raising capital is like celebrating that you bought condoms before a date
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Four Startup Principles:
- Money matters
- Performance counts
- Time is the enemy
- Your investors eventually want liquidity
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Actual picture of companies who haven't pivoted their business model due to the pandemic
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In large companies and gov't organizations “fear of failure” inhibits speed and risk-taking, while in startups “fear of failure” drives speed and urgency
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Confusing corporate entrepreneurship with startup entrepreneurship is like confusing football with war. In both cases the consequences of losing are vastly different.
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Winning at Entrepreneurship is for practitioners not theorists.
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When a gov't agency or company thinks bringing in a consulting firm will help them with strategy and a reorg, most often it's the leadership and board that needs repair/replacement not the org.
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We all stood on clayton christensen’s shoulders. Today we lost a giant. RIP.
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Passion without direction=lost, Direction without passion=you'll never get there. You need both.
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Your company‘s culture is not the poster in the cafeteria. It’s what’s seen to be rewarded and punished.
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Realistic people never accomplish the impossible.
Only unreasonable people do
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The amount of work that gets done in a startup is inversely proportional to how fancy the building is
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The goal is not to hire people who need a job, but to hire people who believe what you believe
@simonsinek
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If you're the smartest person in the room it doesn't guarantee you're the most effective
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Timeless advice for founders. "If you want to build a ship, don’t drum up the people to gather wood, divide the work, and give orders. Instead, teach them to yearn for the vast and endless sea." Antoine de Saint-Exupery
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Disrupted = your industry is part of a
@CBInsights
chart. Dead but don’t know it = mgmt response is "we have a corporate accelerator"
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Execution environments are designed to be fail-safe. Innovation environments are designed to be safe-to-fail.
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Everyone who’s taken a shower has had a good idea. It’s the person who gets out of the shower and does something about it who makes a difference
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Exploitation of existing business models requires relentless execution. Exploration of new business models requires agile innovation. They require different leadership skills and different organizational design
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Clock speeds run differently in government agencies compared to companies and in companies compared to startups. Decide which clock you're using.
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Only a fool learns from his mistakes; wise men learn from other people's mistakes - Bismark
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Invention is not the same as commercialization.
Invention - An idea for a new product, process, or design.
Commercialization - the process of turning an invention into a profitable business. Commericalization inside a company requires an entrepreneur paired with the inventor.
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In order to change an existing paradigm you don’t try to reform the existing model. You create a new model and make the old one obsolete
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Worst people to have in a meeting are those who need to hear their own voice but don’t have any facts
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Lean was designed to inform the founders vision to operate at speed, not as a focus group for consensus for those without deep convictions.
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If you jump to a new model every time you read a new book you lack core beliefs. New ideas should improve the ideas/models you already have.
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Great professors are people who wish to remain students for the rest of their lives.
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Don’t execute other peoples advice if you can’t explain why you’re doing it.
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Great founders keep their eye on the prize not the obstacles. They remove the obstacles in their way.
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The law of strategic planning: the number of people involved in creating the plan is inversely proportional to the actual amount of strategy it contains.
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Startup fundraising checklist for a Series A
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Organizations deliver products at a speed proportional to the depth of its org chart
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Why Tim Cook is Steve Ballmer and Why He Still Has His Job at Apple
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Leadership-communicate the vision, management=execute the vision, innovation=create the vision. You need all three.
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Why Innovation Heroes are a Sign of a Dysfunctional Organization
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Following
@JeffBezos
at an innovation conference was like being the second person up at the sermon on the mount.
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Traditional conventional career advice is useless to startup founders because it's not a job - it's a calling.
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Working Outside the Tech Bubble
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If you don’t take change by the hand it will take you by the throat.
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If you're a founder, make sure you love what you do when you take a shower in the morning and when you drive back home at night.
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I remind my students that cheating on customer discovery interviews is like cheating in your parachute packing class.
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Great grades and successful entrepreneurs have at best a zero correlation (and may actually be negative)
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How to position a disruptive product? still the best description ever.
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Some people dream of success while others wake up and work hard at it.
Winston Churchill
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success = insight x tenacity x methodology x pattern recognition x risk capital x market timing x time for liquidity
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In a company the number of people you copy on email is inversely proportional to your actual influence.
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Talent hits a target no one else can hit. Genius hits a target no one else can see.
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The Innovation Stack: How to make innovation programs deliver more than coffee cups
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Failure sucks. Success is all about how quickly you react to failure, what lessons you learn from it and then what you do next
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If you can’t manage chaos and uncertainty your startup will die
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Truly brilliant summary of the arc of startup innovation from
@mleslie45
http://t.co/zGavTwEEC2
- a must read!
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The Odds of Getting the Business Model Right is Inversely Proportional to How Smart the Founder Thinks They Are
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Surprise! Getting out of the building and talking to customers is a good idea.
@StanfordBiz
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while economists argued theory entrepreneurs and VCs changed the world
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Companies need to operate at startup speed longer.This requires retaining a startup culture for years-who best to do that?The founders
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Having someone who is convinced they can’t change the world manage someone who doesnt realize they can change the world guarantees failure
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Brilliant piece on what happens to companies when their monopoly ends.
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If you stick around long enough, you can often catch a lucky break. But that lucky break can’t come for you if you didn’t figure out how to stick around long enough.
@fredwilson
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#UnitedAirlines
note to Oscar Munez.Your customer service will improve when your exec staff has to fly coach on united. Lead by example
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The question you should never stop asking yourself — for the next 20 years
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Thanks to
@ScottAdamsSays
creator of Dilbert for being a great guest on my
@SIRIUSXM
show. unique worldview.
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Entrepreneur hint - no one loves their first job. So don't over think it.
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The amount of customer discovery and product/market fit you need to find is inversely proportional to the amount and availability of risk capital
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entrepreneurship; the world's worst job, but the world's best calling
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Lean Innovation Management – Making Corporate Innovation Work
http://t.co/wzCxogI7sk
http://t.co/Ki8sMrpFKH
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Strategy is not a to-do list. Do you know the difference? Find out why
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Founders, like artists, see that shining city on the hill. And they remove the obstacles in reality to realize it.
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Intel Disrupted: Why large companies find it difficult to innovate, and what they can do…
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The minute you start taking orders from your board you've just become an employee and likely the exCEO
@msuster
http://t.co/lc9edj6J4G
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Innovation dies when it’s acquired and integrated in firms whose focus is on execution
http://t.co/VFGiHcNKDC
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Every time I teach I wonder, "Why do I do this?" and then I get notes from students like this.
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