CINXE.COM

<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd">   <html xmlns="http://www.w3.org/1999/xhtml" lang="en-US">  <head profile="http://gmpg.org/xfn/11"> <meta http-equiv="Content-Type" content="text/html; charset=UTF-8" /> <title>Steve Blank Innovation and Entrepreneurship February 2015</title> <link rel="pingback" href="https://steveblank.com/xmlrpc.php" /> <meta name='robots' content='max-image-preview:large' /> <style>img:is([sizes="auto" i], [sizes^="auto," i]) { contain-intrinsic-size: 3000px 1500px }</style>  <meta name="google-site-verification" content="NzQX03n5c3BUqAOH2ZZeaOzmFxIKopb99y0xo7ymJ7w" /> <meta name="msvalidate.01" content="77BB8773D8C1446AC1C1A19B8355A369" /> <link rel='dns-prefetch' href='//secure.gravatar.com' /> <link rel='dns-prefetch' href='//stats.wp.com' /> <link rel='dns-prefetch' href='//widgets.wp.com' /> <link rel='dns-prefetch' href='//jetpack.wordpress.com' /> <link rel='dns-prefetch' href='//s0.wp.com' /> <link rel='dns-prefetch' href='//public-api.wordpress.com' /> <link rel='dns-prefetch' href='//0.gravatar.com' /> <link rel='dns-prefetch' href='//1.gravatar.com' /> <link rel='dns-prefetch' href='//2.gravatar.com' /> <link rel='preconnect' href='//i0.wp.com' /> <link rel='preconnect' href='//c0.wp.com' /> <link rel="alternate" type="application/rss+xml" title="Steve Blank » Feed" href="https://steveblank.com/feed/" /> <link rel="alternate" type="application/rss+xml" title="Steve Blank » Comments Feed" href="https://steveblank.com/comments/feed/" /> <script type="text/javascript"> /* <![CDATA[ */ window._wpemojiSettings = {"baseUrl":"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/","ext":".png","svgUrl":"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/svg\/","svgExt":".svg","source":{"concatemoji":"https:\/\/steveblank.com\/wp-includes\/js\/wp-emoji-release.min.js?ver=6.7.1"}}; /*! This file is auto-generated */ !function(i,n){var o,s,e;function c(e){try{var t={supportTests:e,timestamp:(new Date).valueOf()};sessionStorage.setItem(o,JSON.stringify(t))}catch(e){}}function p(e,t,n){e.clearRect(0,0,e.canvas.width,e.canvas.height),e.fillText(t,0,0);var t=new Uint32Array(e.getImageData(0,0,e.canvas.width,e.canvas.height).data),r=(e.clearRect(0,0,e.canvas.width,e.canvas.height),e.fillText(n,0,0),new Uint32Array(e.getImageData(0,0,e.canvas.width,e.canvas.height).data));return t.every(function(e,t){return e===r[t]})}function u(e,t,n){switch(t){case"flag":return n(e,"\ud83c\udff3\ufe0f\u200d\u26a7\ufe0f","\ud83c\udff3\ufe0f\u200b\u26a7\ufe0f")?!1:!n(e,"\ud83c\uddfa\ud83c\uddf3","\ud83c\uddfa\u200b\ud83c\uddf3")&&!n(e,"\ud83c\udff4\udb40\udc67\udb40\udc62\udb40\udc65\udb40\udc6e\udb40\udc67\udb40\udc7f","\ud83c\udff4\u200b\udb40\udc67\u200b\udb40\udc62\u200b\udb40\udc65\u200b\udb40\udc6e\u200b\udb40\udc67\u200b\udb40\udc7f");case"emoji":return!n(e,"\ud83d\udc26\u200d\u2b1b","\ud83d\udc26\u200b\u2b1b")}return!1}function f(e,t,n){var r="undefined"!=typeof WorkerGlobalScope&&self instanceof WorkerGlobalScope?new OffscreenCanvas(300,150):i.createElement("canvas"),a=r.getContext("2d",{willReadFrequently:!0}),o=(a.textBaseline="top",a.font="600 32px Arial",{});return e.forEach(function(e){o[e]=t(a,e,n)}),o}function t(e){var t=i.createElement("script");t.src=e,t.defer=!0,i.head.appendChild(t)}"undefined"!=typeof Promise&&(o="wpEmojiSettingsSupports",s=["flag","emoji"],n.supports={everything:!0,everythingExceptFlag:!0},e=new Promise(function(e){i.addEventListener("DOMContentLoaded",e,{once:!0})}),new Promise(function(t){var n=function(){try{var e=JSON.parse(sessionStorage.getItem(o));if("object"==typeof e&&"number"==typeof e.timestamp&&(new Date).valueOf()<e.timestamp+604800&&"object"==typeof e.supportTests)return e.supportTests}catch(e){}return null}();if(!n){if("undefined"!=typeof Worker&&"undefined"!=typeof OffscreenCanvas&&"undefined"!=typeof URL&&URL.createObjectURL&&"undefined"!=typeof Blob)try{var e="postMessage("+f.toString()+"("+[JSON.stringify(s),u.toString(),p.toString()].join(",")+"));",r=new Blob([e],{type:"text/javascript"}),a=new Worker(URL.createObjectURL(r),{name:"wpTestEmojiSupports"});return void(a.onmessage=function(e){c(n=e.data),a.terminate(),t(n)})}catch(e){}c(n=f(s,u,p))}t(n)}).then(function(e){for(var t in e)n.supports[t]=e[t],n.supports.everything=n.supports.everything&&n.supports[t],"flag"!==t&&(n.supports.everythingExceptFlag=n.supports.everythingExceptFlag&&n.supports[t]);n.supports.everythingExceptFlag=n.supports.everythingExceptFlag&&!n.supports.flag,n.DOMReady=!1,n.readyCallback=function(){n.DOMReady=!0}}).then(function(){return e}).then(function(){var e;n.supports.everything||(n.readyCallback(),(e=n.source||{}).concatemoji?t(e.concatemoji):e.wpemoji&&e.twemoji&&(t(e.twemoji),t(e.wpemoji)))}))}((window,document),window._wpemojiSettings); /* ]]> */ </script> <link rel='stylesheet' id='all-css-cb7ade03dc0ef7ebc2e1117796e7d27c' href='https://steveblank.com/_static/??-eJydUdtuwyAM/aFRtkVV1YdqnzI5YFEv5iIMivj7kqqV0j5sWV8Qh3PRwZ6TomC4WhRtRLQlKXrkaCbFNGbITUtpjDtPYdcFb/PK8CPaoyVARo+hPIDE0DArRgembXJ3bo3XHhNDWSTl3KmlpHPDrdeTInF1FHo4lgRm0j7aysvfIMcqyFpmSr3XWIN9wX0j1P1ha0AhRqscMGOf6C9oayDT1M9/jUDqKCZTKhTDE9occYaMFqxt1ysF95fzu69bSzQErDi6KA/gvuMvf/o4DO/H437/OVwAUzb8iA==' type='text/css' media='all' /> <style id='wp-block-library-inline-css'> .has-text-align-justify{text-align:justify;} </style> <style id='wp-emoji-styles-inline-css'> img.wp-smiley, img.emoji { display: inline !important; border: none !important; box-shadow: none !important; height: 1em !important; width: 1em !important; margin: 0 0.07em !important; vertical-align: -0.1em !important; background: none !important; padding: 0 !important; } </style> <style id='jetpack-sharing-buttons-style-inline-css'> .jetpack-sharing-buttons__services-list{display:flex;flex-direction:row;flex-wrap:wrap;gap:0;list-style-type:none;margin:5px;padding:0}.jetpack-sharing-buttons__services-list.has-small-icon-size{font-size:12px}.jetpack-sharing-buttons__services-list.has-normal-icon-size{font-size:16px}.jetpack-sharing-buttons__services-list.has-large-icon-size{font-size:24px}.jetpack-sharing-buttons__services-list.has-huge-icon-size{font-size:36px}@media print{.jetpack-sharing-buttons__services-list{display:none!important}}.editor-styles-wrapper .wp-block-jetpack-sharing-buttons{gap:0;padding-inline-start:0}ul.jetpack-sharing-buttons__services-list.has-background{padding:1.25em 2.375em} </style> <style id='classic-theme-styles-inline-css'> /*! This file is auto-generated */ .wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none} </style> <style id='global-styles-inline-css'> :root{--wp--preset--aspect-ratio--square: 1;--wp--preset--aspect-ratio--4-3: 4/3;--wp--preset--aspect-ratio--3-4: 3/4;--wp--preset--aspect-ratio--3-2: 3/2;--wp--preset--aspect-ratio--2-3: 2/3;--wp--preset--aspect-ratio--16-9: 16/9;--wp--preset--aspect-ratio--9-16: 9/16;--wp--preset--color--black: #000000;--wp--preset--color--cyan-bluish-gray: #abb8c3;--wp--preset--color--white: #ffffff;--wp--preset--color--pale-pink: #f78da7;--wp--preset--color--vivid-red: #cf2e2e;--wp--preset--color--luminous-vivid-orange: #ff6900;--wp--preset--color--luminous-vivid-amber: #fcb900;--wp--preset--color--light-green-cyan: #7bdcb5;--wp--preset--color--vivid-green-cyan: #00d084;--wp--preset--color--pale-cyan-blue: #8ed1fc;--wp--preset--color--vivid-cyan-blue: #0693e3;--wp--preset--color--vivid-purple: #9b51e0;--wp--preset--gradient--vivid-cyan-blue-to-vivid-purple: linear-gradient(135deg,rgba(6,147,227,1) 0%,rgb(155,81,224) 100%);--wp--preset--gradient--light-green-cyan-to-vivid-green-cyan: linear-gradient(135deg,rgb(122,220,180) 0%,rgb(0,208,130) 100%);--wp--preset--gradient--luminous-vivid-amber-to-luminous-vivid-orange: linear-gradient(135deg,rgba(252,185,0,1) 0%,rgba(255,105,0,1) 100%);--wp--preset--gradient--luminous-vivid-orange-to-vivid-red: linear-gradient(135deg,rgba(255,105,0,1) 0%,rgb(207,46,46) 100%);--wp--preset--gradient--very-light-gray-to-cyan-bluish-gray: linear-gradient(135deg,rgb(238,238,238) 0%,rgb(169,184,195) 100%);--wp--preset--gradient--cool-to-warm-spectrum: linear-gradient(135deg,rgb(74,234,220) 0%,rgb(151,120,209) 20%,rgb(207,42,186) 40%,rgb(238,44,130) 60%,rgb(251,105,98) 80%,rgb(254,248,76) 100%);--wp--preset--gradient--blush-light-purple: linear-gradient(135deg,rgb(255,206,236) 0%,rgb(152,150,240) 100%);--wp--preset--gradient--blush-bordeaux: linear-gradient(135deg,rgb(254,205,165) 0%,rgb(254,45,45) 50%,rgb(107,0,62) 100%);--wp--preset--gradient--luminous-dusk: linear-gradient(135deg,rgb(255,203,112) 0%,rgb(199,81,192) 50%,rgb(65,88,208) 100%);--wp--preset--gradient--pale-ocean: linear-gradient(135deg,rgb(255,245,203) 0%,rgb(182,227,212) 50%,rgb(51,167,181) 100%);--wp--preset--gradient--electric-grass: linear-gradient(135deg,rgb(202,248,128) 0%,rgb(113,206,126) 100%);--wp--preset--gradient--midnight: linear-gradient(135deg,rgb(2,3,129) 0%,rgb(40,116,252) 100%);--wp--preset--font-size--small: 13px;--wp--preset--font-size--medium: 20px;--wp--preset--font-size--large: 36px;--wp--preset--font-size--x-large: 42px;--wp--preset--font-family--albert-sans: 'Albert Sans', sans-serif;--wp--preset--font-family--alegreya: Alegreya, serif;--wp--preset--font-family--arvo: Arvo, serif;--wp--preset--font-family--bodoni-moda: 'Bodoni Moda', serif;--wp--preset--font-family--bricolage-grotesque: 'Bricolage Grotesque', sans-serif;--wp--preset--font-family--cabin: Cabin, sans-serif;--wp--preset--font-family--chivo: Chivo, sans-serif;--wp--preset--font-family--commissioner: Commissioner, sans-serif;--wp--preset--font-family--cormorant: Cormorant, serif;--wp--preset--font-family--courier-prime: 'Courier Prime', monospace;--wp--preset--font-family--crimson-pro: 'Crimson Pro', serif;--wp--preset--font-family--dm-mono: 'DM Mono', monospace;--wp--preset--font-family--dm-sans: 'DM Sans', sans-serif;--wp--preset--font-family--dm-serif-display: 'DM Serif Display', serif;--wp--preset--font-family--domine: Domine, serif;--wp--preset--font-family--eb-garamond: 'EB Garamond', serif;--wp--preset--font-family--epilogue: Epilogue, sans-serif;--wp--preset--font-family--fahkwang: Fahkwang, sans-serif;--wp--preset--font-family--figtree: Figtree, sans-serif;--wp--preset--font-family--fira-sans: 'Fira Sans', sans-serif;--wp--preset--font-family--fjalla-one: 'Fjalla One', sans-serif;--wp--preset--font-family--fraunces: Fraunces, serif;--wp--preset--font-family--gabarito: Gabarito, system-ui;--wp--preset--font-family--ibm-plex-mono: 'IBM Plex Mono', monospace;--wp--preset--font-family--ibm-plex-sans: 'IBM Plex Sans', sans-serif;--wp--preset--font-family--ibarra-real-nova: 'Ibarra Real Nova', serif;--wp--preset--font-family--instrument-serif: 'Instrument Serif', serif;--wp--preset--font-family--inter: Inter, sans-serif;--wp--preset--font-family--josefin-sans: 'Josefin Sans', sans-serif;--wp--preset--font-family--jost: Jost, sans-serif;--wp--preset--font-family--libre-baskerville: 'Libre Baskerville', serif;--wp--preset--font-family--libre-franklin: 'Libre Franklin', sans-serif;--wp--preset--font-family--literata: Literata, serif;--wp--preset--font-family--lora: Lora, serif;--wp--preset--font-family--merriweather: Merriweather, serif;--wp--preset--font-family--montserrat: Montserrat, sans-serif;--wp--preset--font-family--newsreader: Newsreader, serif;--wp--preset--font-family--noto-sans-mono: 'Noto Sans Mono', sans-serif;--wp--preset--font-family--nunito: Nunito, sans-serif;--wp--preset--font-family--open-sans: 'Open Sans', sans-serif;--wp--preset--font-family--overpass: Overpass, sans-serif;--wp--preset--font-family--pt-serif: 'PT Serif', serif;--wp--preset--font-family--petrona: Petrona, serif;--wp--preset--font-family--piazzolla: Piazzolla, serif;--wp--preset--font-family--playfair-display: 'Playfair Display', serif;--wp--preset--font-family--plus-jakarta-sans: 'Plus Jakarta Sans', sans-serif;--wp--preset--font-family--poppins: Poppins, sans-serif;--wp--preset--font-family--raleway: Raleway, sans-serif;--wp--preset--font-family--roboto: Roboto, sans-serif;--wp--preset--font-family--roboto-slab: 'Roboto Slab', serif;--wp--preset--font-family--rubik: Rubik, sans-serif;--wp--preset--font-family--rufina: Rufina, serif;--wp--preset--font-family--sora: Sora, sans-serif;--wp--preset--font-family--source-sans-3: 'Source Sans 3', sans-serif;--wp--preset--font-family--source-serif-4: 'Source Serif 4', serif;--wp--preset--font-family--space-mono: 'Space Mono', monospace;--wp--preset--font-family--syne: Syne, sans-serif;--wp--preset--font-family--texturina: Texturina, serif;--wp--preset--font-family--urbanist: Urbanist, sans-serif;--wp--preset--font-family--work-sans: 'Work Sans', sans-serif;--wp--preset--spacing--20: 0.44rem;--wp--preset--spacing--30: 0.67rem;--wp--preset--spacing--40: 1rem;--wp--preset--spacing--50: 1.5rem;--wp--preset--spacing--60: 2.25rem;--wp--preset--spacing--70: 3.38rem;--wp--preset--spacing--80: 5.06rem;--wp--preset--shadow--natural: 6px 6px 9px rgba(0, 0, 0, 0.2);--wp--preset--shadow--deep: 12px 12px 50px rgba(0, 0, 0, 0.4);--wp--preset--shadow--sharp: 6px 6px 0px rgba(0, 0, 0, 0.2);--wp--preset--shadow--outlined: 6px 6px 0px -3px rgba(255, 255, 255, 1), 6px 6px rgba(0, 0, 0, 1);--wp--preset--shadow--crisp: 6px 6px 0px rgba(0, 0, 0, 1);}:where(.is-layout-flex){gap: 0.5em;}:where(.is-layout-grid){gap: 0.5em;}body .is-layout-flex{display: flex;}.is-layout-flex{flex-wrap: wrap;align-items: center;}.is-layout-flex > :is(*, div){margin: 0;}body .is-layout-grid{display: grid;}.is-layout-grid > :is(*, div){margin: 0;}:where(.wp-block-columns.is-layout-flex){gap: 2em;}:where(.wp-block-columns.is-layout-grid){gap: 2em;}:where(.wp-block-post-template.is-layout-flex){gap: 1.25em;}:where(.wp-block-post-template.is-layout-grid){gap: 1.25em;}.has-black-color{color: var(--wp--preset--color--black) !important;}.has-cyan-bluish-gray-color{color: var(--wp--preset--color--cyan-bluish-gray) !important;}.has-white-color{color: var(--wp--preset--color--white) !important;}.has-pale-pink-color{color: var(--wp--preset--color--pale-pink) !important;}.has-vivid-red-color{color: var(--wp--preset--color--vivid-red) !important;}.has-luminous-vivid-orange-color{color: var(--wp--preset--color--luminous-vivid-orange) !important;}.has-luminous-vivid-amber-color{color: var(--wp--preset--color--luminous-vivid-amber) !important;}.has-light-green-cyan-color{color: var(--wp--preset--color--light-green-cyan) !important;}.has-vivid-green-cyan-color{color: var(--wp--preset--color--vivid-green-cyan) !important;}.has-pale-cyan-blue-color{color: var(--wp--preset--color--pale-cyan-blue) !important;}.has-vivid-cyan-blue-color{color: var(--wp--preset--color--vivid-cyan-blue) !important;}.has-vivid-purple-color{color: var(--wp--preset--color--vivid-purple) !important;}.has-black-background-color{background-color: var(--wp--preset--color--black) !important;}.has-cyan-bluish-gray-background-color{background-color: var(--wp--preset--color--cyan-bluish-gray) !important;}.has-white-background-color{background-color: var(--wp--preset--color--white) !important;}.has-pale-pink-background-color{background-color: var(--wp--preset--color--pale-pink) !important;}.has-vivid-red-background-color{background-color: var(--wp--preset--color--vivid-red) !important;}.has-luminous-vivid-orange-background-color{background-color: var(--wp--preset--color--luminous-vivid-orange) !important;}.has-luminous-vivid-amber-background-color{background-color: var(--wp--preset--color--luminous-vivid-amber) !important;}.has-light-green-cyan-background-color{background-color: var(--wp--preset--color--light-green-cyan) !important;}.has-vivid-green-cyan-background-color{background-color: var(--wp--preset--color--vivid-green-cyan) !important;}.has-pale-cyan-blue-background-color{background-color: var(--wp--preset--color--pale-cyan-blue) !important;}.has-vivid-cyan-blue-background-color{background-color: var(--wp--preset--color--vivid-cyan-blue) !important;}.has-vivid-purple-background-color{background-color: var(--wp--preset--color--vivid-purple) !important;}.has-black-border-color{border-color: var(--wp--preset--color--black) !important;}.has-cyan-bluish-gray-border-color{border-color: var(--wp--preset--color--cyan-bluish-gray) !important;}.has-white-border-color{border-color: var(--wp--preset--color--white) !important;}.has-pale-pink-border-color{border-color: var(--wp--preset--color--pale-pink) !important;}.has-vivid-red-border-color{border-color: var(--wp--preset--color--vivid-red) !important;}.has-luminous-vivid-orange-border-color{border-color: var(--wp--preset--color--luminous-vivid-orange) !important;}.has-luminous-vivid-amber-border-color{border-color: var(--wp--preset--color--luminous-vivid-amber) !important;}.has-light-green-cyan-border-color{border-color: var(--wp--preset--color--light-green-cyan) !important;}.has-vivid-green-cyan-border-color{border-color: var(--wp--preset--color--vivid-green-cyan) !important;}.has-pale-cyan-blue-border-color{border-color: var(--wp--preset--color--pale-cyan-blue) !important;}.has-vivid-cyan-blue-border-color{border-color: var(--wp--preset--color--vivid-cyan-blue) !important;}.has-vivid-purple-border-color{border-color: var(--wp--preset--color--vivid-purple) !important;}.has-vivid-cyan-blue-to-vivid-purple-gradient-background{background: var(--wp--preset--gradient--vivid-cyan-blue-to-vivid-purple) !important;}.has-light-green-cyan-to-vivid-green-cyan-gradient-background{background: var(--wp--preset--gradient--light-green-cyan-to-vivid-green-cyan) !important;}.has-luminous-vivid-amber-to-luminous-vivid-orange-gradient-background{background: var(--wp--preset--gradient--luminous-vivid-amber-to-luminous-vivid-orange) !important;}.has-luminous-vivid-orange-to-vivid-red-gradient-background{background: var(--wp--preset--gradient--luminous-vivid-orange-to-vivid-red) !important;}.has-very-light-gray-to-cyan-bluish-gray-gradient-background{background: var(--wp--preset--gradient--very-light-gray-to-cyan-bluish-gray) !important;}.has-cool-to-warm-spectrum-gradient-background{background: var(--wp--preset--gradient--cool-to-warm-spectrum) !important;}.has-blush-light-purple-gradient-background{background: var(--wp--preset--gradient--blush-light-purple) !important;}.has-blush-bordeaux-gradient-background{background: var(--wp--preset--gradient--blush-bordeaux) !important;}.has-luminous-dusk-gradient-background{background: var(--wp--preset--gradient--luminous-dusk) !important;}.has-pale-ocean-gradient-background{background: var(--wp--preset--gradient--pale-ocean) !important;}.has-electric-grass-gradient-background{background: var(--wp--preset--gradient--electric-grass) !important;}.has-midnight-gradient-background{background: var(--wp--preset--gradient--midnight) !important;}.has-small-font-size{font-size: var(--wp--preset--font-size--small) !important;}.has-medium-font-size{font-size: var(--wp--preset--font-size--medium) !important;}.has-large-font-size{font-size: var(--wp--preset--font-size--large) !important;}.has-x-large-font-size{font-size: var(--wp--preset--font-size--x-large) !important;}.has-albert-sans-font-family{font-family: var(--wp--preset--font-family--albert-sans) !important;}.has-alegreya-font-family{font-family: var(--wp--preset--font-family--alegreya) !important;}.has-arvo-font-family{font-family: var(--wp--preset--font-family--arvo) !important;}.has-bodoni-moda-font-family{font-family: var(--wp--preset--font-family--bodoni-moda) !important;}.has-bricolage-grotesque-font-family{font-family: var(--wp--preset--font-family--bricolage-grotesque) !important;}.has-cabin-font-family{font-family: var(--wp--preset--font-family--cabin) !important;}.has-chivo-font-family{font-family: var(--wp--preset--font-family--chivo) !important;}.has-commissioner-font-family{font-family: var(--wp--preset--font-family--commissioner) !important;}.has-cormorant-font-family{font-family: var(--wp--preset--font-family--cormorant) !important;}.has-courier-prime-font-family{font-family: var(--wp--preset--font-family--courier-prime) !important;}.has-crimson-pro-font-family{font-family: var(--wp--preset--font-family--crimson-pro) !important;}.has-dm-mono-font-family{font-family: var(--wp--preset--font-family--dm-mono) !important;}.has-dm-sans-font-family{font-family: var(--wp--preset--font-family--dm-sans) !important;}.has-dm-serif-display-font-family{font-family: var(--wp--preset--font-family--dm-serif-display) !important;}.has-domine-font-family{font-family: var(--wp--preset--font-family--domine) !important;}.has-eb-garamond-font-family{font-family: var(--wp--preset--font-family--eb-garamond) !important;}.has-epilogue-font-family{font-family: var(--wp--preset--font-family--epilogue) !important;}.has-fahkwang-font-family{font-family: var(--wp--preset--font-family--fahkwang) !important;}.has-figtree-font-family{font-family: var(--wp--preset--font-family--figtree) !important;}.has-fira-sans-font-family{font-family: var(--wp--preset--font-family--fira-sans) !important;}.has-fjalla-one-font-family{font-family: var(--wp--preset--font-family--fjalla-one) !important;}.has-fraunces-font-family{font-family: var(--wp--preset--font-family--fraunces) !important;}.has-gabarito-font-family{font-family: var(--wp--preset--font-family--gabarito) !important;}.has-ibm-plex-mono-font-family{font-family: var(--wp--preset--font-family--ibm-plex-mono) !important;}.has-ibm-plex-sans-font-family{font-family: var(--wp--preset--font-family--ibm-plex-sans) !important;}.has-ibarra-real-nova-font-family{font-family: var(--wp--preset--font-family--ibarra-real-nova) !important;}.has-instrument-serif-font-family{font-family: var(--wp--preset--font-family--instrument-serif) !important;}.has-inter-font-family{font-family: var(--wp--preset--font-family--inter) !important;}.has-josefin-sans-font-family{font-family: var(--wp--preset--font-family--josefin-sans) !important;}.has-jost-font-family{font-family: var(--wp--preset--font-family--jost) !important;}.has-libre-baskerville-font-family{font-family: var(--wp--preset--font-family--libre-baskerville) !important;}.has-libre-franklin-font-family{font-family: var(--wp--preset--font-family--libre-franklin) !important;}.has-literata-font-family{font-family: var(--wp--preset--font-family--literata) !important;}.has-lora-font-family{font-family: var(--wp--preset--font-family--lora) !important;}.has-merriweather-font-family{font-family: var(--wp--preset--font-family--merriweather) !important;}.has-montserrat-font-family{font-family: var(--wp--preset--font-family--montserrat) !important;}.has-newsreader-font-family{font-family: var(--wp--preset--font-family--newsreader) !important;}.has-noto-sans-mono-font-family{font-family: var(--wp--preset--font-family--noto-sans-mono) !important;}.has-nunito-font-family{font-family: var(--wp--preset--font-family--nunito) !important;}.has-open-sans-font-family{font-family: var(--wp--preset--font-family--open-sans) !important;}.has-overpass-font-family{font-family: var(--wp--preset--font-family--overpass) !important;}.has-pt-serif-font-family{font-family: var(--wp--preset--font-family--pt-serif) !important;}.has-petrona-font-family{font-family: var(--wp--preset--font-family--petrona) !important;}.has-piazzolla-font-family{font-family: var(--wp--preset--font-family--piazzolla) !important;}.has-playfair-display-font-family{font-family: var(--wp--preset--font-family--playfair-display) !important;}.has-plus-jakarta-sans-font-family{font-family: var(--wp--preset--font-family--plus-jakarta-sans) !important;}.has-poppins-font-family{font-family: var(--wp--preset--font-family--poppins) !important;}.has-raleway-font-family{font-family: var(--wp--preset--font-family--raleway) !important;}.has-roboto-font-family{font-family: var(--wp--preset--font-family--roboto) !important;}.has-roboto-slab-font-family{font-family: var(--wp--preset--font-family--roboto-slab) !important;}.has-rubik-font-family{font-family: var(--wp--preset--font-family--rubik) !important;}.has-rufina-font-family{font-family: var(--wp--preset--font-family--rufina) !important;}.has-sora-font-family{font-family: var(--wp--preset--font-family--sora) !important;}.has-source-sans-3-font-family{font-family: var(--wp--preset--font-family--source-sans-3) !important;}.has-source-serif-4-font-family{font-family: var(--wp--preset--font-family--source-serif-4) !important;}.has-space-mono-font-family{font-family: var(--wp--preset--font-family--space-mono) !important;}.has-syne-font-family{font-family: var(--wp--preset--font-family--syne) !important;}.has-texturina-font-family{font-family: var(--wp--preset--font-family--texturina) !important;}.has-urbanist-font-family{font-family: var(--wp--preset--font-family--urbanist) !important;}.has-work-sans-font-family{font-family: var(--wp--preset--font-family--work-sans) !important;} :where(.wp-block-post-template.is-layout-flex){gap: 1.25em;}:where(.wp-block-post-template.is-layout-grid){gap: 1.25em;} :where(.wp-block-columns.is-layout-flex){gap: 2em;}:where(.wp-block-columns.is-layout-grid){gap: 2em;} :root :where(.wp-block-pullquote){font-size: 1.5em;line-height: 1.6;} </style> <style id='jetpack-global-styles-frontend-style-inline-css'> :root { --font-headings: unset; --font-base: unset; --font-headings-default: -apple-system,BlinkMacSystemFont,"Segoe UI",Roboto,Oxygen-Sans,Ubuntu,Cantarell,"Helvetica Neue",sans-serif; --font-base-default: -apple-system,BlinkMacSystemFont,"Segoe UI",Roboto,Oxygen-Sans,Ubuntu,Cantarell,"Helvetica Neue",sans-serif;} </style> <script type="text/javascript" id="jetpack-mu-wpcom-settings-js-before"> /* <![CDATA[ */ var JETPACK_MU_WPCOM_SETTINGS = {"assetsUrl":"https:\/\/steveblank.com\/wp-content\/mu-plugins\/wpcomsh\/vendor\/automattic\/jetpack-mu-wpcom\/src\/build\/"}; /* ]]> */ </script> <link rel="https://api.w.org/" href="https://steveblank.com/wp-json/" /><link rel="EditURI" type="application/rsd+xml" title="RSD" href="https://steveblank.com/xmlrpc.php?rsd" /> <style>img#wpstats{display:none}</style> <meta name="description" content="5 posts published by steve blank during February 2015" /> <style type="text/css"> #header h1 a, #header h1 a:hover, #header .description { color: #eb221e; } </style>   <meta property="og:type" content="website" /> <meta property="og:title" content="Steve Blank Innovation and Entrepreneurship February 2015" /> <meta property="og:site_name" content="Steve Blank" /> <meta property="og:image" content="https://s0.wp.com/i/blank.jpg" /> <meta property="og:image:alt" content="" /> <meta property="og:locale" content="en_US" />  <link rel="icon" href="https://s0.wp.com/i/webclip.png" sizes="32x32" /> <link rel="icon" href="https://s0.wp.com/i/webclip.png" sizes="192x192" /> <link rel="apple-touch-icon" href="https://s0.wp.com/i/webclip.png" /> <meta name="msapplication-TileImage" content="https://s0.wp.com/i/webclip.png" />  <script type='text/javascript'> var _gaq = _gaq || []; _gaq.push(['_setAccount', 'UA-85363375-1']); _gaq.push(['_trackPageview']); (function() { var ga = document.createElement('script'); ga.type = 'text/javascript'; ga.async = true; ga.src = ('https:' === document.location.protocol ? 'https://ssl' : 'http://www') + '.google-analytics.com/ga.js'; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(ga, s); })(); </script>  </head> <body class="archive date"><div id="container"> <div id="header"> <div id="menu"> <ul id="menu-menu" class="menu"><li id="menu-item-12086" class="menu-item menu-item-type-custom menu-item-object-custom menu-item-home menu-item-12086"><a href="http://steveblank.com">Home</a></li> <li id="menu-item-12085" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-12085"><a href="https://steveblank.com/about/">About Steve</a></li> <li id="menu-item-12083" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-12083"><a href="https://steveblank.com/books-for-startups/">Startup Books</a></li> <li id="menu-item-12080" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-12080"><a href="https://steveblank.com/slides/">Slides/Videos</a></li> <li id="menu-item-25611" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-25611"><a href="https://steveblank.com/raising-money/">Fund Raising</a></li> <li id="menu-item-12082" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-12082"><a href="https://steveblank.com/tools-and-blogs-for-entrepreneurs/">Tools!</a></li> <li id="menu-item-12084" class="menu-item menu-item-type-post_type menu-item-object-page menu-item-12084"><a href="https://steveblank.com/secret-history/">Secret History</a></li> </ul> </div> <div id="header-box"> <div id="header-image"> <img src="https://steveblank.com/wp-content/uploads/2009/02/cropped-100_3947-ks-far-away-download10.jpg" alt="" /> </div> <div id="header-overlay"> <img src="https://steveblank.com/wp-content/themes/digg3/images/bg_header_overlay.png" alt="" /> </div> <div id="pagetitle"> <h1><a href="https://steveblank.com/" title="Steve Blank">Steve Blank</a></h1> </div> <div id="syndication"> <a href="https://steveblank.com/feed/" title="Syndicate this site using RSS" class="feed">Entries <abbr title="Really Simple Syndication">RSS</abbr></a> | <a href="https://steveblank.com/comments/feed/" title="Syndicate comments using RSS">Comments RSS</a> </div> <div id="searchbox"> <form method="get" id="searchform" action="https://steveblank.com/"> <div> <input type="text" value="" name="s" id="s" /> <input type="submit" id="searchsubmit" value="Search" /> </div> </form> </div> </div> </div> <div class="pagewrapper"><div id="page">  <div class="obar"> <ul> <li id="blog_subscription-3" class="widget widget_blog_subscription jetpack_subscription_widget"><h2 class="widgettitle">Email Subscription</h2> <div class="wp-block-jetpack-subscriptions__container"> <form action="#" method="post" accept-charset="utf-8" id="subscribe-blog-blog_subscription-3" data-blog="6599589" data-post_access_level="everybody" > <div id="subscribe-text"><p>Enter your email address to subscribe to this blog and receive notifications of new posts by email.</p> </div> <p id="subscribe-email"> <label id="jetpack-subscribe-label" class="screen-reader-text" for="subscribe-field-blog_subscription-3"> Email Address </label> <input type="email" name="email" required="required" value="" id="subscribe-field-blog_subscription-3" placeholder="Email Address" /> </p> <p id="subscribe-submit" > <input type="hidden" name="action" value="subscribe"/> <input type="hidden" name="source" value="https://steveblank.com/2015/02/"/> <input type="hidden" name="sub-type" value="widget"/> <input type="hidden" name="redirect_fragment" value="subscribe-blog-blog_subscription-3"/> <input type="hidden" id="_wpnonce" name="_wpnonce" value="b9b1d8cbc0" /><input type="hidden" name="_wp_http_referer" value="/2015/02/" /> <button type="submit" class="wp-block-button__link" name="jetpack_subscriptions_widget" > Sign me up! </button> </p> </form> <div class="wp-block-jetpack-subscriptions__subscount"> Join 55.5K other subscribers </div> </div> </li> <li id="categories-356180491" class="widget widget_categories"><h2 class="widgettitle">Categories</h2> <ul> <li class="cat-item cat-item-64203016"><a href="https://steveblank.com/category/2-minute-lessons/">2 Minute Lessons</a> (15) </li> <li class="cat-item cat-item-2450"><a href="https://steveblank.com/category/air-force/">Air Force</a> (19) </li> <li class="cat-item cat-item-1457175"><a href="https://steveblank.com/category/ardent/">Ardent</a> (9) </li> <li class="cat-item cat-item-45014641"><a href="https://steveblank.com/category/business-model-versus-business-plan/">Business Model versus Business Plan</a> (64) </li> <li class="cat-item cat-item-4787488"><a href="https://steveblank.com/category/california-coastal-commission/">California Coastal Commission</a> (9) </li> <li class="cat-item cat-item-1470"><a href="https://steveblank.com/category/china/">China</a> (9) </li> <li class="cat-item cat-item-6987201"><a href="https://steveblank.com/category/commencement-speeches/">Commencement Speeches</a> (9) </li> <li class="cat-item cat-item-23993"><a href="https://steveblank.com/category/conservation/">Conservation</a> (4) </li> <li class="cat-item cat-item-3075385"><a href="https://steveblank.com/category/convergent-technologies/">Convergent Technologies</a> (4) </li> <li class="cat-item cat-item-635806586"><a href="https://steveblank.com/category/corporate-govt-innovation/">Corporate/Gov't Innovation</a> (131) </li> <li class="cat-item cat-item-697702677"><a href="https://steveblank.com/category/covid-19-recovery/">Covid-19/Recovery</a> (10) </li> <li class="cat-item cat-item-1874987"><a href="https://steveblank.com/category/customer-development/">Customer Development</a> (323) </li> <li class="cat-item cat-item-25337102"><a href="https://steveblank.com/category/customer-development-manifesto/">Customer Development Manifesto</a> (34) </li> <li class="cat-item cat-item-16840"><a href="https://steveblank.com/category/epiphany/">E.piphany</a> (13) </li> <li class="cat-item cat-item-697967638"><a href="https://steveblank.com/category/educators-summit/">Educators Summit</a> (7) </li> <li class="cat-item cat-item-697967634"><a href="https://steveblank.com/category/esl/">ESL</a> (8) </li> <li class="cat-item cat-item-64567312"><a href="https://steveblank.com/category/familycareerculture/">Family/Career/Culture</a> (81) </li> <li class="cat-item cat-item-697967641"><a href="https://steveblank.com/category/gordian-knot-center-for-national-security-innovation/">Gordian Knot Center for National Security Innovation</a> (11) </li> <li class="cat-item cat-item-479441927"><a href="https://steveblank.com/category/hacking-for-defense/">Hacking For Defense</a> (41) </li> <li class="cat-item cat-item-526158618"><a href="https://steveblank.com/category/hacking-for-diplomacy/">Hacking for Diplomacy</a> (10) </li> <li class="cat-item cat-item-697967637"><a href="https://steveblank.com/category/hacking-for-recovery/">Hacking for Recovery</a> (5) </li> <li class="cat-item cat-item-105397"><a href="https://steveblank.com/category/harvard-business-review/">Harvard Business Review</a> (12) </li> <li class="cat-item cat-item-684268037"><a href="https://steveblank.com/category/innovation-doctrine/">Innovation Doctrine</a> (3) </li> <li class="cat-item cat-item-340390495"><a href="https://steveblank.com/category/innovation-outposts/">Innovation Outposts</a> (4) </li> <li class="cat-item cat-item-217160777"><a href="https://steveblank.com/category/investment-readiness-level/">Investment Readiness Level</a> (6) </li> <li class="cat-item cat-item-53169179"><a href="https://steveblank.com/category/lean-launchpad/">Lean LaunchPad</a> (117) </li> <li class="cat-item cat-item-261983049"><a href="https://steveblank.com/category/life-sciences-nih/">Life Sciences (NIH)</a> (26) </li> <li class="cat-item cat-item-16879037"><a href="https://steveblank.com/category/market-types/">Market Types</a> (15) </li> <li class="cat-item cat-item-175"><a href="https://steveblank.com/category/marketing/">Marketing</a> (27) </li> <li class="cat-item cat-item-28276971"><a href="https://steveblank.com/category/mips-computers/">MIPS Computers</a> (2) </li> <li class="cat-item cat-item-697967640"><a href="https://steveblank.com/category/national-security/">National Security</a> (40) </li> <li class="cat-item cat-item-2064"><a href="https://steveblank.com/category/navy/">Navy</a> (6) </li> <li class="cat-item cat-item-34826422"><a href="https://steveblank.com/category/nih-national-institutes-of-health/">NIH (National Institutes of Health)</a> (17) </li> <li class="cat-item cat-item-16770755"><a href="https://steveblank.com/category/nsf-national-science-foundation/">NSF (National Science Foundation)</a> (18) </li> <li class="cat-item cat-item-16848661"><a href="https://steveblank.com/category/rocket-science-games/">Rocket Science Games</a> (10) </li> <li class="cat-item cat-item-137272104"><a href="https://steveblank.com/category/science-and-industrial-policy/">Science and Industrial Policy</a> (27) </li> <li class="cat-item cat-item-16849552"><a href="https://steveblank.com/category/secret-history-of-silicon-valley/">Secret History of Silicon Valley</a> (26) </li> <li class="cat-item cat-item-50184180"><a href="https://steveblank.com/category/siriusxm-radio-show/">SiriusXM Radio Show</a> (50) </li> <li class="cat-item cat-item-235742"><a href="https://steveblank.com/category/supermac/">SuperMac</a> (12) </li> <li class="cat-item cat-item-1591"><a href="https://steveblank.com/category/teaching/">Teaching</a> (178) </li> <li class="cat-item cat-item-6"><a href="https://steveblank.com/category/technology/">Technology</a> (86) </li> <li class="cat-item cat-item-697967636"><a href="https://steveblank.com/category/technology-innovation-and-modern-war/">Technology Innovation and Great Power Competition</a> (17) </li> <li class="cat-item cat-item-697967642"><a href="https://steveblank.com/category/technology-innovation-and-modern-war-2/">Technology Innovation and Modern War</a> (20) </li> <li class="cat-item cat-item-429989"><a href="https://steveblank.com/category/tesla/">Tesla</a> (5) </li> <li class="cat-item cat-item-1"><a href="https://steveblank.com/category/uncategorized/">Uncategorized</a> (8) </li> <li class="cat-item cat-item-202"><a href="https://steveblank.com/category/venture-capital/">Venture Capital</a> (82) </li> <li class="cat-item cat-item-1087649"><a href="https://steveblank.com/category/vertical-markets/">Vertical Markets</a> (5) </li> <li class="cat-item cat-item-715437"><a href="https://steveblank.com/category/zilog/">Zilog</a> (5) </li> </ul> </li> <li id="rss_links-3" class="widget widget_rss_links"><h2 class="widgettitle">Get Steve Blank via your RSS Feed</h2> <ul><li><a target="_self" href="https://steveblank.com/feed/" title="Subscribe to posts">RSS - Posts</a></li><li><a target="_self" href="https://steveblank.com/comments/feed/" title="Subscribe to comments">RSS - Comments</a></li></ul> </li> <li id="recent-posts-2" class="widget widget_recent_entries"> <h2 class="widgettitle">Recent Posts</h2> <ul> <li> <a href="https://steveblank.com/2024/10/22/quantum-computing-an-update/">Quantum Computing – An Update</a> </li> <li> <a href="https://steveblank.com/2024/10/08/how-saboteurs-threaten-innovation-and-what-to-do-about-it/">How Saboteurs Threaten Innovation–and What to Do About It</a> </li> <li> <a href="https://steveblank.com/2024/10/05/what-does-product-market-fit-sound-like-this/">What Does Product Market Fit Sound Like? This.</a> </li> <li> <a href="https://steveblank.com/2024/09/17/the-directory-of-dod-program-executive-offices-and-officers-peos/">How To Find Your Customer In the Dept of Defense – The Directory of DoD Program Executive Offices</a> </li> <li> <a href="https://steveblank.com/2024/08/13/security-clearances-at-the-speed-of-startups/">Security Clearances at the Speed of Startups</a> </li> <li> <a href="https://steveblank.com/2024/07/30/why-large-organizations-struggle-with-disruption-and-what-to-do-about-it/">Why Large Organizations Struggle With Disruption, and What to Do About It</a> </li> <li> <a href="https://steveblank.com/2024/06/27/lean-launchpad-stanford-2024-8-teams-in-8-companies-out/">Lean LaunchPad @Stanford 2024 – 8 Teams In, 8 Companies Out</a> </li> <li> <a href="https://steveblank.com/2024/06/24/hacking-for-defense-stanford-2024-lessons-learned-presentations/">Hacking for Defense @ Stanford 2024 – Lessons Learned Presentations</a> </li> <li> <a href="https://steveblank.com/2024/06/03/youre-invited-hacking-for-defense-and-lean-launchpad-final-presentations/">You’re Invited: Hacking for Defense and Lean LaunchPad Final Presentations</a> </li> <li> <a href="https://steveblank.com/2024/05/26/gordon-bell-r-i-p/">Gordon Bell R.I.P.</a> </li> </ul> </li> <li id="search-2" class="widget widget_search"><form method="get" id="searchform" action="https://steveblank.com/"> <div> <input type="text" value="" name="s" id="s" /> <input type="submit" id="searchsubmit" value="Search" /> </div> </form></li> <li id="archives-2" class="widget widget_archive"><h2 class="widgettitle">Archives</h2> <ul> <li><a href='https://steveblank.com/2024/10/'>October 2024</a></li> <li><a href='https://steveblank.com/2024/09/'>September 2024</a></li> <li><a href='https://steveblank.com/2024/08/'>August 2024</a></li> <li><a href='https://steveblank.com/2024/07/'>July 2024</a></li> <li><a href='https://steveblank.com/2024/06/'>June 2024</a></li> <li><a href='https://steveblank.com/2024/05/'>May 2024</a></li> <li><a href='https://steveblank.com/2024/04/'>April 2024</a></li> <li><a href='https://steveblank.com/2024/03/'>March 2024</a></li> <li><a href='https://steveblank.com/2024/02/'>February 2024</a></li> <li><a href='https://steveblank.com/2024/01/'>January 2024</a></li> <li><a href='https://steveblank.com/2023/12/'>December 2023</a></li> <li><a href='https://steveblank.com/2023/11/'>November 2023</a></li> <li><a href='https://steveblank.com/2023/10/'>October 2023</a></li> <li><a href='https://steveblank.com/2023/09/'>September 2023</a></li> <li><a href='https://steveblank.com/2023/08/'>August 2023</a></li> <li><a href='https://steveblank.com/2023/07/'>July 2023</a></li> <li><a href='https://steveblank.com/2023/04/'>April 2023</a></li> <li><a href='https://steveblank.com/2023/02/'>February 2023</a></li> <li><a href='https://steveblank.com/2023/01/'>January 2023</a></li> <li><a href='https://steveblank.com/2022/11/'>November 2022</a></li> <li><a href='https://steveblank.com/2022/10/'>October 2022</a></li> <li><a href='https://steveblank.com/2022/09/'>September 2022</a></li> <li><a href='https://steveblank.com/2022/06/'>June 2022</a></li> <li><a href='https://steveblank.com/2022/05/'>May 2022</a></li> <li><a href='https://steveblank.com/2022/04/'>April 2022</a></li> <li><a href='https://steveblank.com/2022/03/'>March 2022</a></li> <li><a href='https://steveblank.com/2022/01/'>January 2022</a></li> <li><a href='https://steveblank.com/2021/12/'>December 2021</a></li> <li><a href='https://steveblank.com/2021/11/'>November 2021</a></li> <li><a href='https://steveblank.com/2021/10/'>October 2021</a></li> <li><a href='https://steveblank.com/2021/09/'>September 2021</a></li> <li><a href='https://steveblank.com/2021/08/'>August 2021</a></li> <li><a href='https://steveblank.com/2021/07/'>July 2021</a></li> <li><a href='https://steveblank.com/2021/06/'>June 2021</a></li> <li><a href='https://steveblank.com/2021/05/'>May 2021</a></li> <li><a href='https://steveblank.com/2021/04/'>April 2021</a></li> <li><a href='https://steveblank.com/2021/03/'>March 2021</a></li> <li><a href='https://steveblank.com/2021/02/'>February 2021</a></li> <li><a href='https://steveblank.com/2021/01/'>January 2021</a></li> <li><a href='https://steveblank.com/2020/12/'>December 2020</a></li> <li><a href='https://steveblank.com/2020/11/'>November 2020</a></li> <li><a href='https://steveblank.com/2020/10/'>October 2020</a></li> <li><a href='https://steveblank.com/2020/09/'>September 2020</a></li> <li><a href='https://steveblank.com/2020/08/'>August 2020</a></li> <li><a href='https://steveblank.com/2020/07/'>July 2020</a></li> <li><a href='https://steveblank.com/2020/06/'>June 2020</a></li> <li><a href='https://steveblank.com/2020/05/'>May 2020</a></li> <li><a href='https://steveblank.com/2020/04/'>April 2020</a></li> <li><a href='https://steveblank.com/2020/03/'>March 2020</a></li> <li><a href='https://steveblank.com/2020/02/'>February 2020</a></li> <li><a href='https://steveblank.com/2020/01/'>January 2020</a></li> <li><a href='https://steveblank.com/2019/12/'>December 2019</a></li> <li><a href='https://steveblank.com/2019/11/'>November 2019</a></li> <li><a href='https://steveblank.com/2019/10/'>October 2019</a></li> <li><a href='https://steveblank.com/2019/09/'>September 2019</a></li> <li><a href='https://steveblank.com/2019/06/'>June 2019</a></li> <li><a href='https://steveblank.com/2019/05/'>May 2019</a></li> <li><a href='https://steveblank.com/2019/04/'>April 2019</a></li> <li><a href='https://steveblank.com/2019/03/'>March 2019</a></li> <li><a href='https://steveblank.com/2019/01/'>January 2019</a></li> <li><a href='https://steveblank.com/2018/12/'>December 2018</a></li> <li><a href='https://steveblank.com/2018/11/'>November 2018</a></li> <li><a href='https://steveblank.com/2018/10/'>October 2018</a></li> <li><a href='https://steveblank.com/2018/09/'>September 2018</a></li> <li><a href='https://steveblank.com/2018/08/'>August 2018</a></li> <li><a href='https://steveblank.com/2018/07/'>July 2018</a></li> <li><a href='https://steveblank.com/2018/06/'>June 2018</a></li> <li><a href='https://steveblank.com/2018/04/'>April 2018</a></li> <li><a href='https://steveblank.com/2018/03/'>March 2018</a></li> <li><a href='https://steveblank.com/2018/02/'>February 2018</a></li> <li><a href='https://steveblank.com/2018/01/'>January 2018</a></li> <li><a href='https://steveblank.com/2017/11/'>November 2017</a></li> <li><a href='https://steveblank.com/2017/10/'>October 2017</a></li> <li><a href='https://steveblank.com/2017/09/'>September 2017</a></li> <li><a href='https://steveblank.com/2017/08/'>August 2017</a></li> <li><a href='https://steveblank.com/2017/07/'>July 2017</a></li> <li><a href='https://steveblank.com/2017/06/'>June 2017</a></li> <li><a href='https://steveblank.com/2017/05/'>May 2017</a></li> <li><a href='https://steveblank.com/2017/04/'>April 2017</a></li> <li><a href='https://steveblank.com/2017/03/'>March 2017</a></li> <li><a href='https://steveblank.com/2017/02/'>February 2017</a></li> <li><a href='https://steveblank.com/2017/01/'>January 2017</a></li> <li><a href='https://steveblank.com/2016/12/'>December 2016</a></li> <li><a href='https://steveblank.com/2016/11/'>November 2016</a></li> <li><a href='https://steveblank.com/2016/10/'>October 2016</a></li> <li><a href='https://steveblank.com/2016/09/'>September 2016</a></li> <li><a href='https://steveblank.com/2016/08/'>August 2016</a></li> <li><a href='https://steveblank.com/2016/07/'>July 2016</a></li> <li><a href='https://steveblank.com/2016/06/'>June 2016</a></li> <li><a href='https://steveblank.com/2016/05/'>May 2016</a></li> <li><a href='https://steveblank.com/2016/04/'>April 2016</a></li> <li><a href='https://steveblank.com/2016/03/'>March 2016</a></li> <li><a href='https://steveblank.com/2016/02/'>February 2016</a></li> <li><a href='https://steveblank.com/2016/01/'>January 2016</a></li> <li><a href='https://steveblank.com/2015/12/'>December 2015</a></li> <li><a href='https://steveblank.com/2015/11/'>November 2015</a></li> <li><a href='https://steveblank.com/2015/10/'>October 2015</a></li> <li><a href='https://steveblank.com/2015/09/'>September 2015</a></li> <li><a href='https://steveblank.com/2015/08/'>August 2015</a></li> <li><a href='https://steveblank.com/2015/07/'>July 2015</a></li> <li><a href='https://steveblank.com/2015/06/'>June 2015</a></li> <li><a href='https://steveblank.com/2015/05/'>May 2015</a></li> <li><a href='https://steveblank.com/2015/03/'>March 2015</a></li> <li><a href='https://steveblank.com/2015/02/' aria-current="page">February 2015</a></li> <li><a href='https://steveblank.com/2015/01/'>January 2015</a></li> <li><a href='https://steveblank.com/2014/12/'>December 2014</a></li> <li><a href='https://steveblank.com/2014/11/'>November 2014</a></li> <li><a href='https://steveblank.com/2014/10/'>October 2014</a></li> <li><a href='https://steveblank.com/2014/09/'>September 2014</a></li> <li><a href='https://steveblank.com/2014/08/'>August 2014</a></li> <li><a href='https://steveblank.com/2014/07/'>July 2014</a></li> <li><a href='https://steveblank.com/2014/06/'>June 2014</a></li> <li><a href='https://steveblank.com/2014/05/'>May 2014</a></li> <li><a href='https://steveblank.com/2014/04/'>April 2014</a></li> <li><a href='https://steveblank.com/2014/03/'>March 2014</a></li> <li><a href='https://steveblank.com/2014/02/'>February 2014</a></li> <li><a href='https://steveblank.com/2014/01/'>January 2014</a></li> <li><a href='https://steveblank.com/2013/12/'>December 2013</a></li> <li><a href='https://steveblank.com/2013/11/'>November 2013</a></li> <li><a href='https://steveblank.com/2013/10/'>October 2013</a></li> <li><a href='https://steveblank.com/2013/09/'>September 2013</a></li> <li><a href='https://steveblank.com/2013/08/'>August 2013</a></li> <li><a href='https://steveblank.com/2013/07/'>July 2013</a></li> <li><a href='https://steveblank.com/2013/06/'>June 2013</a></li> <li><a href='https://steveblank.com/2013/05/'>May 2013</a></li> <li><a href='https://steveblank.com/2013/04/'>April 2013</a></li> <li><a href='https://steveblank.com/2013/03/'>March 2013</a></li> <li><a href='https://steveblank.com/2013/02/'>February 2013</a></li> <li><a href='https://steveblank.com/2013/01/'>January 2013</a></li> <li><a href='https://steveblank.com/2012/12/'>December 2012</a></li> <li><a href='https://steveblank.com/2012/11/'>November 2012</a></li> <li><a href='https://steveblank.com/2012/10/'>October 2012</a></li> <li><a href='https://steveblank.com/2012/09/'>September 2012</a></li> <li><a href='https://steveblank.com/2012/08/'>August 2012</a></li> <li><a href='https://steveblank.com/2012/07/'>July 2012</a></li> <li><a href='https://steveblank.com/2012/06/'>June 2012</a></li> <li><a href='https://steveblank.com/2012/05/'>May 2012</a></li> <li><a href='https://steveblank.com/2012/04/'>April 2012</a></li> <li><a href='https://steveblank.com/2012/03/'>March 2012</a></li> <li><a href='https://steveblank.com/2012/02/'>February 2012</a></li> <li><a href='https://steveblank.com/2012/01/'>January 2012</a></li> <li><a href='https://steveblank.com/2011/12/'>December 2011</a></li> <li><a href='https://steveblank.com/2011/11/'>November 2011</a></li> <li><a href='https://steveblank.com/2011/10/'>October 2011</a></li> <li><a href='https://steveblank.com/2011/09/'>September 2011</a></li> <li><a href='https://steveblank.com/2011/08/'>August 2011</a></li> <li><a href='https://steveblank.com/2011/07/'>July 2011</a></li> <li><a href='https://steveblank.com/2011/06/'>June 2011</a></li> <li><a href='https://steveblank.com/2011/05/'>May 2011</a></li> <li><a href='https://steveblank.com/2011/04/'>April 2011</a></li> <li><a href='https://steveblank.com/2011/03/'>March 2011</a></li> <li><a href='https://steveblank.com/2011/02/'>February 2011</a></li> <li><a href='https://steveblank.com/2011/01/'>January 2011</a></li> <li><a href='https://steveblank.com/2010/12/'>December 2010</a></li> <li><a href='https://steveblank.com/2010/11/'>November 2010</a></li> <li><a href='https://steveblank.com/2010/10/'>October 2010</a></li> <li><a href='https://steveblank.com/2010/09/'>September 2010</a></li> <li><a href='https://steveblank.com/2010/08/'>August 2010</a></li> <li><a href='https://steveblank.com/2010/07/'>July 2010</a></li> <li><a href='https://steveblank.com/2010/06/'>June 2010</a></li> <li><a href='https://steveblank.com/2010/05/'>May 2010</a></li> <li><a href='https://steveblank.com/2010/04/'>April 2010</a></li> <li><a href='https://steveblank.com/2010/03/'>March 2010</a></li> <li><a href='https://steveblank.com/2010/02/'>February 2010</a></li> <li><a href='https://steveblank.com/2010/01/'>January 2010</a></li> <li><a href='https://steveblank.com/2009/12/'>December 2009</a></li> <li><a href='https://steveblank.com/2009/11/'>November 2009</a></li> <li><a href='https://steveblank.com/2009/10/'>October 2009</a></li> <li><a href='https://steveblank.com/2009/09/'>September 2009</a></li> <li><a href='https://steveblank.com/2009/08/'>August 2009</a></li> <li><a href='https://steveblank.com/2009/07/'>July 2009</a></li> <li><a href='https://steveblank.com/2009/06/'>June 2009</a></li> <li><a href='https://steveblank.com/2009/05/'>May 2009</a></li> <li><a href='https://steveblank.com/2009/04/'>April 2009</a></li> <li><a href='https://steveblank.com/2009/03/'>March 2009</a></li> <li><a href='https://steveblank.com/2009/02/'>February 2009</a></li> </ul> </li> <li id="pages-2" class="widget widget_pages"><h2 class="widgettitle">Other Stuff</h2> <ul> <li class="page_item page-item-2"><a href="https://steveblank.com/about/">About Steve</a></li> <li class="page_item page-item-22"><a href="https://steveblank.com/tools-and-blogs-for-entrepreneurs/">Startup Tools</a></li> <li class="page_item page-item-62"><a href="https://steveblank.com/secret-history/">Secret History</a></li> <li class="page_item page-item-68"><a href="https://steveblank.com/books-for-startups/">Books for Startups</a></li> <li class="page_item page-item-11025"><a href="https://steveblank.com/slides/">Slides/Videos</a></li> <li class="page_item page-item-25609"><a href="https://steveblank.com/raising-money/">Raising Money</a></li> </ul> </li> </ul> </div>  <div class="narrowcolumnwrapper"><div class="narrowcolumn"> <div id="content" class="content"> <div class="post-18284 post type-post status-publish format-standard hentry category-2-minute-lessons category-market-types" id="post-18284"> <h2><a href="https://steveblank.com/2015/02/24/market-type-and-revenue-2-minutes-to-find-out-why/" rel="bookmark">Market Type and Revenue. 2 Minutes to Find Out Why</a></h2> <div class="postinfo"> Posted on <span class="postdate">February 24, 2015</span> by steve blank </div> <div class="entry"> <p>Understanding “Market Type” can save you a ton of money and time.</p> <p>This 2-minute video explained “<a href="http://steveblank.com/2015/01/06/there-are-4-types-of-startups/" target="_blank">why not all startups are the same</a>” and introduced the notion of “market type” and described <a href="http://steveblank.com/2015/01/06/there-are-4-types-of-startups/" target="_blank">the difference between new markets, existing markets and resegmented markets</a>.</p> <p>The next video described <a href="http://steveblank.com/2014/07/28/not-all-startups-are-the-same-2-minutes-to-find-out-why/" target="_blank">what happens to startups who don’t understand they are in a new market</a>.</p> <p>This video describes how “Market Type” affects your revenue and your burn rate.</p> <p><iframe title="Market Type and Revenue. 2 Minutes to See Why" width="468" height="263" src="https://www.youtube.com/embed/UO0HxlWsM1g?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p> <p>If you can’t see the video click <a href="http://www.youtube.com/watch?v=UO0HxlWsM1g" target="_blank">here</a></p> <div class="sharedaddy sd-sharing-enabled"><div class="robots-nocontent sd-block sd-social sd-social-official sd-sharing"><h3 class="sd-title">Share this:</h3><div class="sd-content"><ul><li class="share-print"><a rel="nofollow noopener noreferrer" data-shared="" class="share-print sd-button" href="https://steveblank.com/2015/02/24/market-type-and-revenue-2-minutes-to-find-out-why/" target="_blank" title="Click to print" ><span>Print</span></a></li><li class="share-email"><a rel="nofollow noopener noreferrer" data-shared="" class="share-email sd-button" href="mailto:?subject=%5BShared%20Post%5D%20Market%20Type%20and%20Revenue.%202%20Minutes%20to%20Find%20Out%20Why&body=https%3A%2F%2Fsteveblank.com%2F2015%2F02%2F24%2Fmarket-type-and-revenue-2-minutes-to-find-out-why%2F&share=email" target="_blank" title="Click to email a link to a friend" data-email-share-error-title="Do you have email set up?" data-email-share-error-text="If you're having problems sharing via email, you might not have email set up for your browser. You may need to create a new email yourself." data-email-share-nonce="d51a6475e0" data-email-share-track-url="https://steveblank.com/2015/02/24/market-type-and-revenue-2-minutes-to-find-out-why/?share=email"><span>Email</span></a></li><li class="share-facebook"><div class="fb-share-button" data-href="https://steveblank.com/2015/02/24/market-type-and-revenue-2-minutes-to-find-out-why/" data-layout="button_count"></div></li><li class="share-twitter"><a href="https://twitter.com/share" class="twitter-share-button" data-url="https://steveblank.com/2015/02/24/market-type-and-revenue-2-minutes-to-find-out-why/" data-text="Market Type and Revenue. 2 Minutes to Find Out Why" >Tweet</a></li><li class="share-linkedin"><div class="linkedin_button"><script type="in/share" data-url="https://steveblank.com/2015/02/24/market-type-and-revenue-2-minutes-to-find-out-why/" data-counter="right"></script></div></li><li class="share-reddit"><a rel="nofollow noopener noreferrer" data-shared="" class="share-reddit sd-button" href="https://steveblank.com/2015/02/24/market-type-and-revenue-2-minutes-to-find-out-why/?share=reddit" target="_blank" title="Click to share on Reddit" ><span>Reddit</span></a></li><li class="share-jetpack-whatsapp"><a rel="nofollow noopener noreferrer" data-shared="" class="share-jetpack-whatsapp sd-button" href="https://steveblank.com/2015/02/24/market-type-and-revenue-2-minutes-to-find-out-why/?share=jetpack-whatsapp" target="_blank" title="Click to share on WhatsApp" ><span>WhatsApp</span></a></li><li class="share-pinterest"><div class="pinterest_button"><a href="https://www.pinterest.com/pin/create/button/?url=https%3A%2F%2Fsteveblank.com%2F2015%2F02%2F24%2Fmarket-type-and-revenue-2-minutes-to-find-out-why%2F&media=https%3A%2F%2Fs0.wp.com%2Fi%2Fwebclip.png&description=Market%20Type%20and%20Revenue.%202%20Minutes%20to%20Find%20Out%20Why" data-pin-do="buttonPin" data-pin-config="beside"><img data-recalc-dims="1" src="https://i0.wp.com/assets.pinterest.com/images/pidgets/pinit_fg_en_rect_gray_20.png?w=468" /></a></div></li><li class="share-telegram"><a rel="nofollow noopener noreferrer" data-shared="" class="share-telegram sd-button" href="https://steveblank.com/2015/02/24/market-type-and-revenue-2-minutes-to-find-out-why/?share=telegram" target="_blank" title="Click to share on Telegram" ><span>Telegram</span></a></li><li class="share-tumblr"><a class="tumblr-share-button" target="_blank" href="https://www.tumblr.com/share" data-title="Market Type and Revenue. 2 Minutes to Find Out Why" data-content="https://steveblank.com/2015/02/24/market-type-and-revenue-2-minutes-to-find-out-why/" title="Share on Tumblr"data-posttype="link">Share on Tumblr</a></li><li class="share-pocket"><div class="pocket_button"><a href="https://getpocket.com/save" class="pocket-btn" data-lang="en" data-save-url="https://steveblank.com/2015/02/24/market-type-and-revenue-2-minutes-to-find-out-why/" data-pocket-count="horizontal" >Pocket</a></div></li><li class="share-end"></li></ul></div></div></div><div class='sharedaddy sd-block sd-like jetpack-likes-widget-wrapper jetpack-likes-widget-unloaded' id='like-post-wrapper-6599589-18284-674239cf7eb31' data-src='https://widgets.wp.com/likes/?ver=14.1-a.3#blog_id=6599589&post_id=18284&origin=steveblank.com&obj_id=6599589-18284-674239cf7eb31&n=1' data-name='like-post-frame-6599589-18284-674239cf7eb31' data-title='Like or Reblog'><h3 class="sd-title">Like this:</h3><div class='likes-widget-placeholder post-likes-widget-placeholder' style='height: 55px;'><span class='button'><span>Like</span></span> <span class="loading">Loading...</span></div><span class='sd-text-color'></span><a class='sd-link-color'></a></div> <p class="postinfo"> Filed under: <a href="https://steveblank.com/category/2-minute-lessons/" rel="category tag">2 Minute Lessons</a>, <a href="https://steveblank.com/category/market-types/" rel="category tag">Market Types</a> | <a href="https://steveblank.com/2015/02/24/market-type-and-revenue-2-minutes-to-find-out-why/#comments">3 Comments »</a> </p> </div> </div> <div class="post-18254 post type-post status-publish format-standard hentry category-lean-launchpad category-life-sciences-nih category-teaching" id="post-18254"> <h2><a href="https://steveblank.com/2015/02/19/life-science-startups-rising-in-the-uk/" rel="bookmark">Life Science Startups Rising in the UK</a></h2> <div class="postinfo"> Posted on <span class="postdate">February 19, 2015</span> by steve blank </div> <div class="entry"> <p><a href="https://www.linkedin.com/profile/view?id=32634732" target="_blank" rel="noopener noreferrer">Stephen Chambers</a> spent 22 years in some of the most<a href="http://www.ncbi.nlm.nih.gov/myncbi/browse/collection/44884899/?sort=date&direction=ascending" target="_blank" rel="noopener noreferrer"> innovative companies in life science</a> as the director of gene expression and then as a co-founder of his own company. Today he runs <a href="http://synbicite.com/" target="_blank" rel="noopener noreferrer">SynbiCITE</a>, the UK’s synthetic biology consortium of 56 industrial partners and 19 Academic institutions located at <a href="http://www3.imperial.ac.uk/syntheticbiology" target="_blank" rel="noopener noreferrer">Imperial College</a> in London.</p> <p>Stephen and <a href="http://synbicite.com/" target="_blank" rel="noopener noreferrer">SynbiCITE</a>, just launched the world’s first <a href="http://steveblank.com/category/lean-launchpad/" target="_blank" rel="noopener noreferrer">Lean LaunchPad</a> for Synthetic Biology program. Here’s his story.</p> <p>—-</p> <p><strong>Why did you come back?<br /> </strong>This is the question I most often hear, having now returned to the UK after leaving 24 years ago to work in the US. The answer is simple. The reason I came back is the same reason I left – to be where life science startups are happening.</p> <p>Hard to imagine now, but in the late ’80s the life sciences startup landscape in the UK was almost non-existent. One or two companies existed which at the time were described as startups, but in reality were government-backed small companies attempting, and ultimately failing, to execute business plans.</p> <p>At that time for any life-scientist wanting to work in the commercial sector there were few, if any, jobs in the UK. Along with the rest of British industry, the pharmaceutical sector was under going massive re-organization and mergers creating much of today’s big pharma in the process. These where the Thatcher years: when we were told to ‘<a href="https://www.youtube.com/watch?v=sU_pDM1N7i0" target="_blank" rel="noopener noreferrer">get on your bike</a>’ and many of us did.</p> <p>I left the UK joining a newly formed startup, <a href="http://www.vrtx.com" target="_blank" rel="noopener noreferrer">Vertex Pharmaceuticals</a> in Cambridge, Massachusetts, as one of the founding scientists. There were few alternatives then, if you wanted to work in a startup you had to go to the US. Fortunately, Vertex became one of the most successful US pharma companies in recent history. But even if it hadn’t, in the rich life-science ecosystem around Cambridge and Boston, there are plenty of other opportunities. Or you could start your own company, which I did after Vertex.</p> <p><strong>So what has changed in the UK?<br /> </strong>Probably the biggest change was the UK government’s recognition of the importance of synthetic biology. (Synthetic biology engineers biologically based chemicals, drugs and materials.) The government designated the field as one of the UK’s <a href="http://www.policyexchange.org.uk/images/publications/eight%20great%20technologies.pdf" target="_blank" rel="noopener noreferrer">Eight Great Technologies</a> (along with advanced materials, agri-science, big data, energy storage, regenerative medicine, robotics, and satellites) that the country would focus on. The UK invested ~ £150 million in synthetic biology research and training through the <a href="http://www.rcuk.ac.uk" target="_blank" rel="noopener noreferrer">Research Councils</a> and <a href="https://www.gov.uk/government/organisations/innovate-uk" target="_blank" rel="noopener noreferrer">Innovate UK</a>.</p> <p>To focus <a href="http://webarchive.nationalarchives.gov.uk/20130221185318/www.innovateuk.org/_assets/tsb_syntheticbiologyroadmap.pdf" target="_blank" rel="noopener noreferrer">the national synthetic biology effort</a> the UK created <a href="http://synbicite.com/" target="_blank" rel="noopener noreferrer">SynbiCITE</a>, as the public-private partnership responsible for taking synthetic biology from the lab bench into commercial products in the UK.</p> <p>And this is what has drawn me back. Looking at the UK, I saw a hotbed of startup activity, especially among companies looking to exploit the latest developments in synthetic biology.</p> <p>I jumped at the opportunity to be the CEO of <a href="http://synbicite.com/" target="_blank" rel="noopener noreferrer">SynbiCITE</a>, where I can pursue my passion of working with scientists and entrepreneurs who want to create and build something spectacular in the UK.</p> <p><strong>The Foundry<br /> </strong><a href="http://synbicite.com/" target="_blank" rel="noopener noreferrer">SynbiCITE</a> provides financial aid for Proof of Concept and collaborative research, and logistical support in the form of access to a state-of-the-art ‘Foundry’ for DNA synthesis, assembly and verification.</p> <p>Often the limiting step in synthetic biology innovation is the generation of the prototype, the model or the data: the Foundry seeks to bridge the critical gap between ideation and physical product in synthetic biology. Think of it as a “maker-space” specifically designed to support the commercialization of synthetic biology allowing startups to prototype new biologically based chemicals, drugs and materials.</p> <p>The Foundry accelerates the translation of synthetic biology research into the marketplace. Small and medium-sized companies, startups or virtual companies can use the Foundry as a remote laboratory. We provide automated end-to-end design, construction and validation of synthetic biologic components. It is the generation of these parts, devices and systems, and the diversity of products they can produce and the range of functions they perform, which is creating the enormous excitement around this technology.</p> <p>Another change in the UK, is the growing acceptance that startups are the true engines of not only economic and job growth but also the medium by which innovation most efficiently takes place. While there are still universities in the UK that would rather not have to deal with messy, cash-strapped entrepreneurs and startups most are beginning to realize that licensing doesn’t create jobs, startups do.</p> <p><strong>Lean LaunchPad to Accelerate Commercialization<br /> </strong>The goal of our Synthetic Biology consortium is to turn our world-class scientific research into commercial products. This is why we’re excited about offering the <a href="http://synbicite.com/training/lean-launchpad/" target="_blank" rel="noopener noreferrer">Lean LaunchPad at SynbiCITE</a>. Our goal is to help would-be scientist/entrepreneurs translate their ideas and research in synthetic biology into the marketplace. We want to teach them how successful startups really get built – and do it with urgency.</p> <p><iframe title="Lean LaunchPad for Synthetic Biology" width="468" height="263" src="https://www.youtube.com/embed/SCUsOQ6d-P0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe></p> <p>If you can’t see the video click <a href="https://www.youtube.com/watch?v=SCUsOQ6d-P0&feature=youtu.be" target="_blank" rel="noopener noreferrer">here</a></p> <p>The goal is to provide them a route from coming up with an idea for a product, through generation of business model canvas via the <a href="http://synbicite.com/training/lean-launchpad/more-about-the-course/" target="_blank" rel="noopener noreferrer">Lean LaunchPad program</a> and in parallel, harness the Foundry for the production of prototypes, models and data all the while providing evidence of commercial potential.</p> <p>The program gives those involved direct hands-on experience of identifying a product that the customer really needs and is prepared to buy. I want the participants in the program to have the excitement of finding their first customer, shipping that first product and in doing so learn about all the other aspects of building a successful business. The Lean LaunchPad does that it in 12 weeks.</p> <p>Going forward this initial Lean LaunchPad cohort at SynbiCITE will be the first of many. The course is the most important of all the innovation programs we are providing.</p> <p>This will be the first time in the UK, scientists in the field of synthetic biology have being given the unique opportunity to learn how to become would-be entrepreneurs, by getting out of the lab, talking to potential customers and partners, and identifying what’s needed to turn science into commercial products.</p> <p><strong>Lessons Learned</strong></p> <blockquote> <ul> <li>The UK has established a national effort in Synthetic Biology</li> <li>The Lean LaunchPad is being used to <em>rapidly </em>turn science into commercial products</li> </ul> </blockquote> <iframe width="100%" height="66" scrolling="no" frameborder="no" src="https://w.soundcloud.com/player/?url=https%3A%2F%2Fapi.soundcloud.com%2Ftracks%2F192223771&width=false&auto_play=false&hide_related=false&visual=false&show_comments=false&color=false&show_user=false&show_reposts=false"></iframe> <div class="sharedaddy sd-sharing-enabled"><div class="robots-nocontent sd-block sd-social sd-social-official sd-sharing"><h3 class="sd-title">Share this:</h3><div class="sd-content"><ul><li class="share-print"><a rel="nofollow noopener noreferrer" data-shared="" class="share-print sd-button" href="https://steveblank.com/2015/02/19/life-science-startups-rising-in-the-uk/" target="_blank" title="Click to print" ><span>Print</span></a></li><li class="share-email"><a rel="nofollow noopener noreferrer" data-shared="" class="share-email sd-button" href="mailto:?subject=%5BShared%20Post%5D%20Life%20Science%20Startups%20Rising%20in%20the%20UK&body=https%3A%2F%2Fsteveblank.com%2F2015%2F02%2F19%2Flife-science-startups-rising-in-the-uk%2F&share=email" target="_blank" title="Click to email a link to a friend" data-email-share-error-title="Do you have email set up?" data-email-share-error-text="If you're having problems sharing via email, you might not have email set up for your browser. You may need to create a new email yourself." data-email-share-nonce="38269f1afb" data-email-share-track-url="https://steveblank.com/2015/02/19/life-science-startups-rising-in-the-uk/?share=email"><span>Email</span></a></li><li class="share-facebook"><div class="fb-share-button" data-href="https://steveblank.com/2015/02/19/life-science-startups-rising-in-the-uk/" data-layout="button_count"></div></li><li class="share-twitter"><a href="https://twitter.com/share" class="twitter-share-button" data-url="https://steveblank.com/2015/02/19/life-science-startups-rising-in-the-uk/" data-text="Life Science Startups Rising in the UK" >Tweet</a></li><li class="share-linkedin"><div class="linkedin_button"><script type="in/share" data-url="https://steveblank.com/2015/02/19/life-science-startups-rising-in-the-uk/" data-counter="right"></script></div></li><li class="share-reddit"><a rel="nofollow noopener noreferrer" data-shared="" class="share-reddit sd-button" href="https://steveblank.com/2015/02/19/life-science-startups-rising-in-the-uk/?share=reddit" target="_blank" title="Click to share on Reddit" ><span>Reddit</span></a></li><li class="share-jetpack-whatsapp"><a rel="nofollow noopener noreferrer" data-shared="" class="share-jetpack-whatsapp sd-button" href="https://steveblank.com/2015/02/19/life-science-startups-rising-in-the-uk/?share=jetpack-whatsapp" target="_blank" title="Click to share on WhatsApp" ><span>WhatsApp</span></a></li><li class="share-pinterest"><div class="pinterest_button"><a href="https://www.pinterest.com/pin/create/button/?url=https%3A%2F%2Fsteveblank.com%2F2015%2F02%2F19%2Flife-science-startups-rising-in-the-uk%2F&media=https%3A%2F%2Fs0.wp.com%2Fi%2Fwebclip.png&description=Life%20Science%20Startups%20Rising%20in%20the%20UK" data-pin-do="buttonPin" data-pin-config="beside"><img data-recalc-dims="1" src="https://i0.wp.com/assets.pinterest.com/images/pidgets/pinit_fg_en_rect_gray_20.png?w=468" /></a></div></li><li class="share-telegram"><a rel="nofollow noopener noreferrer" data-shared="" class="share-telegram sd-button" href="https://steveblank.com/2015/02/19/life-science-startups-rising-in-the-uk/?share=telegram" target="_blank" title="Click to share on Telegram" ><span>Telegram</span></a></li><li class="share-tumblr"><a class="tumblr-share-button" target="_blank" href="https://www.tumblr.com/share" data-title="Life Science Startups Rising in the UK" data-content="https://steveblank.com/2015/02/19/life-science-startups-rising-in-the-uk/" title="Share on Tumblr"data-posttype="link">Share on Tumblr</a></li><li class="share-pocket"><div class="pocket_button"><a href="https://getpocket.com/save" class="pocket-btn" data-lang="en" data-save-url="https://steveblank.com/2015/02/19/life-science-startups-rising-in-the-uk/" data-pocket-count="horizontal" >Pocket</a></div></li><li class="share-end"></li></ul></div></div></div><div class='sharedaddy sd-block sd-like jetpack-likes-widget-wrapper jetpack-likes-widget-unloaded' id='like-post-wrapper-6599589-18254-674239cf814e0' data-src='https://widgets.wp.com/likes/?ver=14.1-a.3#blog_id=6599589&post_id=18254&origin=steveblank.com&obj_id=6599589-18254-674239cf814e0&n=1' data-name='like-post-frame-6599589-18254-674239cf814e0' data-title='Like or Reblog'><h3 class="sd-title">Like this:</h3><div class='likes-widget-placeholder post-likes-widget-placeholder' style='height: 55px;'><span class='button'><span>Like</span></span> <span class="loading">Loading...</span></div><span class='sd-text-color'></span><a class='sd-link-color'></a></div> <p class="postinfo"> Filed under: <a href="https://steveblank.com/category/lean-launchpad/" rel="category tag">Lean LaunchPad</a>, <a href="https://steveblank.com/category/life-sciences-nih/" rel="category tag">Life Sciences (NIH)</a>, <a href="https://steveblank.com/category/teaching/" rel="category tag">Teaching</a> | <a href="https://steveblank.com/2015/02/19/life-science-startups-rising-in-the-uk/#comments">1 Comment »</a> </p> </div> </div> <div class="post-18224 post type-post status-publish format-standard hentry category-familycareerculture category-lean-launchpad category-venture-capital" id="post-18224"> <h2><a href="https://steveblank.com/2015/02/12/what-do-i-do-now/" rel="bookmark">What Do I Do Now? The Startup Lifecycle</a></h2> <div class="postinfo"> Posted on <span class="postdate">February 12, 2015</span> by steve blank </div> <div class="entry"> <p><a href="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/search-build-grow.jpg?ssl=1"><img data-recalc-dims="1" loading="lazy" decoding="async" data-attachment-id="18226" data-permalink="https://steveblank.com/2015/02/12/what-do-i-do-now/search-build-grow-2/" data-orig-file="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/search-build-grow.jpg?fit=1008%2C154&ssl=1" data-orig-size="1008,154" data-comments-opened="1" data-image-meta="{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"0"}" data-image-title="search build grow" data-image-description="" data-image-caption="" data-medium-file="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/search-build-grow.jpg?fit=300%2C46&ssl=1" data-large-file="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/search-build-grow.jpg?fit=468%2C72&ssl=1" class="aligncenter size-large wp-image-18226" src="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/search-build-grow.jpg?resize=468%2C72&ssl=1" alt="search build grow" width="468" height="72" /></a>Last week I got a call from Patrick an ex-student I hadn’t heard from for 8 years. He was now the CEO of a company and wanted to talk about what he admitted was a “first world” problem. Over breakfast he got me up to date on his life since school (two non-CEO roles in startups,) but he wanted to talk about his third startup – the one he and two co-founders had started.</p> <p>“We’re at 70 people, and we’ll do $40 million in revenue this year and should get to cash flow breakeven this quarter. ” It sounded like he was living the dream. I was trying to figure out why we were meeting. But then he told me all about the tough decisions, pivots and firing his best friend he had to do to get to where he was. He had been through heck and back.</p> <p>“I made it this far,” he said, ”and my board agreed they’d bet on me to take it to scale. I’m going to double my headcount in the next 3 quarters. The problem is where’s the playbook? There were plenty of books for what to do as a startup, and lots of advice of what to do if I was running a large public company, but there’s nothing that describes how to deal with the issues of growing a company. I feel like I’ve just driving without a roadmap. What should I be reading/doing?”</p> <p>I explained to Patrick that startups go through a series of steps before they become a large company.</p> <p><strong>Search<br /> </strong>In this first step, the goal of a startup is to search for a repeatable and scalable business model. It typically takes multiple iterations and pivots to find product/market fit – the match between what you’re building and who will buy it.</p> <p><a href="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/search.jpg?ssl=1"><img data-recalc-dims="1" loading="lazy" decoding="async" data-attachment-id="18227" data-permalink="https://steveblank.com/2015/02/12/what-do-i-do-now/search-2/" data-orig-file="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/search.jpg?fit=469%2C488&ssl=1" data-orig-size="469,488" data-comments-opened="1" data-image-meta="{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"0"}" data-image-title="search" data-image-description="" data-image-caption="" data-medium-file="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/search.jpg?fit=288%2C300&ssl=1" data-large-file="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/search.jpg?fit=468%2C487&ssl=1" class="aligncenter wp-image-18227 size-medium" src="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/search.jpg?resize=288%2C300&ssl=1" alt="search" width="288" height="300" /></a>You’ll realize you’re ready to exit the <em>Search</em> step when you have customer validation:</p> <ul> <li>You’ve found a sales channel that matches how the customer wants to buy and the costs of using that channel are understood</li> <li>Sales (and/or customer acquisition in a multi-sided market) becomes achievable by a sales force (or network effect or virality) without heroic efforts from the founders</li> <li>Customer acquisition and activation are understood and Customer Acquisition Cost (CAC) and Life Time Value (LTV) can be estimated for the next 18 months</li> </ul> <p>Startups in <em>Search</em> mode have little process and lots of “do what it takes.” Company size is typically less than 40 people and may have been funded with a seed round and/or Series A.</p> <p>Most startups die here.</p> <p><strong>Build<br /> </strong>At about north of 40 people a company needs to change into one that can scale by growing customers/users/payers at a rate that allows the company to:</p> <ul> <li>achieve positive cash flow (make more money than it spends) and/or</li> <li>generate users at a rate that can be monetized…</li> </ul> <p><a href="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/build.jpg?ssl=1"><img data-recalc-dims="1" loading="lazy" decoding="async" data-attachment-id="18229" data-permalink="https://steveblank.com/2015/02/12/what-do-i-do-now/build/" data-orig-file="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/build.jpg?fit=479%2C467&ssl=1" data-orig-size="479,467" data-comments-opened="1" data-image-meta="{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"0"}" data-image-title="build" data-image-description="" data-image-caption="" data-medium-file="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/build.jpg?fit=300%2C292&ssl=1" data-large-file="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/build.jpg?fit=468%2C456&ssl=1" class="aligncenter wp-image-18229 size-medium" src="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/build.jpg?resize=300%2C292&ssl=1" alt="build" width="300" height="292" /></a>Unfortunately as you hire more people, the casual, informal “do what it takes” culture, which worked so well at less than 40 people, becomes chaotic and less effective. Now the organization needs to put in place culture, training, product management, processes and procedures, (i.e. writing the HR manual, sales comp plan, expense reports, branding guidelines, etc.)</p> <p>This <em>Build</em> phase typically begin with around 40 employees and will last to at least 175 and in some cases up to 700 employees. Venture-backed startups will often have a Series C or D or later rounds during this phase.</p> <p><strong>Grow<br /> </strong>In the <em>Grow</em> phase the company has achieved liquidity (an IPO, or has been bought or merged into a larger company event) and is growing by repeatable processes. The full suite of Key Performance Indicators (KPI’s) processes and procedures are in place.</p> <p><strong>Lucky you’re not the ex-CEO<br /> </strong>I pointed out to Patrick that he was in the middle of the transition from <em>Search</em> to <em>Build</em>. And I suggested that he was lucky to be encountering this problem as a 21<sup>st</sup> century startup rather than one a decade or two ago. In the past, when venture-funded startups told their investors they’d found a profitable business model, the first thing VC’s would do is to start looking for an “operating exec” – usually an MBA who would act as the designated “adult” and take over the transition from <em>Search</em> to <em>Build</em>. The belief then was that most founders couldn’t acquire the skills rapidly enough to steer the company through this phase. The good news is that <a href="http://a16z.com" target="_blank" rel="noopener noreferrer">VC firms are beginning to appreciate</a> the value of keeping the founder in place.</p> <p>I reminded Patrick that the reality is startups are inherently chaotic. As a founder he got the company to the Build phase because he was able to think creatively and independently since conditions on the ground changed so rapidly that the original well-thought-out business plan became irrelevant.</p> <p>He managed chaos and uncertainty, and took action rather than waiting around for someone on his board to tell him what to do, and his decisions kept his company from dying.</p> <p>Now Patrick would have to pivot himself and the company. In this <em>Build</em> phase he was going to have to focus on how to thoughtfully start instituting things he took for granted in the <em>Search</em> phase. He was going to have <em>build into his organization </em>training, hiring standards, sales processes and compensation programs, all the while engineering a culture that still emphasized the value of its people.</p> <p>Patrick took a bunch of notes, and said, “You know when I figuring out how to search for a business model, I read the <a href="http://www.amazon.com/gp/product/0984999302/ref=as_li_tf_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0984999302&linkCode=as2&tag=wwwsteveblank-20" target="_blank" rel="noopener noreferrer">Startup Owners Manual</a> and <a href="http://www.amazon.com/gp/product/0470876417?ie=UTF8&tag=wwwsteveblank-20&linkCode=as2&camp=1789&creative=9325&creativeASIN=0470876417" target="_blank" rel="noopener noreferrer">Business Model Generation</a>, but where are the books for this phase? And come to think of it, in the <em>Search</em> phase, there are Incubators and Accelerators and even your <a href="http://steveblank.com/category/nsf-national-science-foundation/" target="_blank" rel="noopener noreferrer">Lean LaunchPad/I-Corps</a> class, to give us practice. What resources are there for me to learn how to guide my company through the <em>Build</em> phase?”</p> <p><strong>Time to Make New Friends<br /> </strong>I realized Patrick just hit the nail on the head. As chaotic as the <em>Search</em> phase was in a startup, you were never alone. There was tons of advice and resources. But in the past, the <em>Build</em> phase was treated like a smaller version of a large company. Operating execs hired by investors used the tools they learned in business school or larger corporations.</p> <p>I suggested it was time for Patrick to consider four things:</p> <ol> <li>Read the sparse but available literature that did exist about this phase. For example, <a href="http://www.amazon.com/gp/product/0989200507/ref=as_li_tf_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0989200507&linkCode=as2&tag=wwwsteveblank-20" target="_blank" rel="noopener noreferrer">The Four Steps to Epiphany</a> Chapter 6, <em>Company Building</em>, Ben Horowitz’s <a href="http://www.amazon.com/gp/product/0062273205/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0062273205&linkCode=as2&tag=wwwsteveblank-20&linkId=KYWF4Y65PKCUI4O6" target="_blank" rel="noopener noreferrer">The Hard Thing About Hard Things</a> (a series of essays) or Geoff Moore’s classic <a href="http://www.amazon.com/gp/product/0062292986/ref=as_li_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0062292986&linkCode=as2&tag=wwwsteveblank-20&linkId=OABYX3BYINAM6TRY" target="_blank" rel="noopener noreferrer">Crossing the Chasm</a></li> <li>If he already had an advisory board (formal and/or informal), add CEO’s who have been through this phase. If not, start one</li> <li>Get a one-one <a href="http://www.motusventures.com/blog/team/joe-dinucci/" target="_blank" rel="noopener noreferrer">CEO coach</a> or join a <a href="http://www.vistage.com" target="_blank" rel="noopener noreferrer">CEO peer group</a></li> <li>And potentially the most difficult, think about upgrading his board by transitioning out board members whose expertise was solely rooted in the <em>Search</em></li> </ol> <p>As we finished our coffees, Patrick said, “Thanks for the advice, though I wish someone had a methodology as simple as the <a href="https://hbr.org/2013/05/why-the-lean-start-up-changes-everything/ar/1" target="_blank" rel="noopener noreferrer">Lean Startup</a> for how to scale my company.”</p> <p><strong>Lessons Learned</strong></p> <blockquote> <ul> <li>Startups go from <em>Search</em> to <em>Build</em> to <em>Scale</em></li> <li>The <em>Search</em> to <em>Build</em> phase happens ~40 people</li> <li><span style="text-decoration:underline;">Very</span> different management tools and techniques are needed to guide your company through this new phase</li> <li>You need to reset your board and your peer advisers to people who know how to manage building a company versus starting one</li> </ul> </blockquote> <iframe loading="lazy" width="100%" height="66" scrolling="no" frameborder="no" src="https://w.soundcloud.com/player/?url=https%3A%2F%2Fapi.soundcloud.com%2Ftracks%2F191603416&width=false&auto_play=false&hide_related=false&visual=false&show_comments=false&color=false&show_user=false&show_reposts=false"></iframe> <div class="sharedaddy sd-sharing-enabled"><div class="robots-nocontent sd-block sd-social sd-social-official sd-sharing"><h3 class="sd-title">Share this:</h3><div class="sd-content"><ul><li class="share-print"><a rel="nofollow noopener noreferrer" data-shared="" class="share-print sd-button" href="https://steveblank.com/2015/02/12/what-do-i-do-now/" target="_blank" title="Click to print" ><span>Print</span></a></li><li class="share-email"><a rel="nofollow noopener noreferrer" data-shared="" class="share-email sd-button" href="mailto:?subject=%5BShared%20Post%5D%20What%20Do%20I%20Do%20Now%3F%20%20The%20Startup%20Lifecycle&body=https%3A%2F%2Fsteveblank.com%2F2015%2F02%2F12%2Fwhat-do-i-do-now%2F&share=email" target="_blank" title="Click to email a link to a friend" data-email-share-error-title="Do you have email set up?" data-email-share-error-text="If you're having problems sharing via email, you might not have email set up for your browser. You may need to create a new email yourself." data-email-share-nonce="91bfc9df79" data-email-share-track-url="https://steveblank.com/2015/02/12/what-do-i-do-now/?share=email"><span>Email</span></a></li><li class="share-facebook"><div class="fb-share-button" data-href="https://steveblank.com/2015/02/12/what-do-i-do-now/" data-layout="button_count"></div></li><li class="share-twitter"><a href="https://twitter.com/share" class="twitter-share-button" data-url="https://steveblank.com/2015/02/12/what-do-i-do-now/" data-text="What Do I Do Now? The Startup Lifecycle" >Tweet</a></li><li class="share-linkedin"><div class="linkedin_button"><script type="in/share" data-url="https://steveblank.com/2015/02/12/what-do-i-do-now/" data-counter="right"></script></div></li><li class="share-reddit"><a rel="nofollow noopener noreferrer" data-shared="" class="share-reddit sd-button" href="https://steveblank.com/2015/02/12/what-do-i-do-now/?share=reddit" target="_blank" title="Click to share on Reddit" ><span>Reddit</span></a></li><li class="share-jetpack-whatsapp"><a rel="nofollow noopener noreferrer" data-shared="" class="share-jetpack-whatsapp sd-button" href="https://steveblank.com/2015/02/12/what-do-i-do-now/?share=jetpack-whatsapp" target="_blank" title="Click to share on WhatsApp" ><span>WhatsApp</span></a></li><li class="share-pinterest"><div class="pinterest_button"><a href="https://www.pinterest.com/pin/create/button/?url=https%3A%2F%2Fsteveblank.com%2F2015%2F02%2F12%2Fwhat-do-i-do-now%2F&media=https%3A%2F%2Fsteveblank.com%2Fwp-content%2Fuploads%2F2015%2F02%2Fbuild.jpg&description=What%20Do%20I%20Do%20Now%3F%20%20The%20Startup%20Lifecycle" data-pin-do="buttonPin" data-pin-config="beside"><img data-recalc-dims="1" src="https://i0.wp.com/assets.pinterest.com/images/pidgets/pinit_fg_en_rect_gray_20.png?w=468" /></a></div></li><li class="share-telegram"><a rel="nofollow noopener noreferrer" data-shared="" class="share-telegram sd-button" href="https://steveblank.com/2015/02/12/what-do-i-do-now/?share=telegram" target="_blank" title="Click to share on Telegram" ><span>Telegram</span></a></li><li class="share-tumblr"><a class="tumblr-share-button" target="_blank" href="https://www.tumblr.com/share" data-title="What Do I Do Now? The Startup Lifecycle" data-content="https://steveblank.com/2015/02/12/what-do-i-do-now/" title="Share on Tumblr"data-posttype="link">Share on Tumblr</a></li><li class="share-pocket"><div class="pocket_button"><a href="https://getpocket.com/save" class="pocket-btn" data-lang="en" data-save-url="https://steveblank.com/2015/02/12/what-do-i-do-now/" data-pocket-count="horizontal" >Pocket</a></div></li><li class="share-end"></li></ul></div></div></div><div class='sharedaddy sd-block sd-like jetpack-likes-widget-wrapper jetpack-likes-widget-unloaded' id='like-post-wrapper-6599589-18224-674239cf84e0f' data-src='https://widgets.wp.com/likes/?ver=14.1-a.3#blog_id=6599589&post_id=18224&origin=steveblank.com&obj_id=6599589-18224-674239cf84e0f&n=1' data-name='like-post-frame-6599589-18224-674239cf84e0f' data-title='Like or Reblog'><h3 class="sd-title">Like this:</h3><div class='likes-widget-placeholder post-likes-widget-placeholder' style='height: 55px;'><span class='button'><span>Like</span></span> <span class="loading">Loading...</span></div><span class='sd-text-color'></span><a class='sd-link-color'></a></div> <p class="postinfo"> Filed under: <a href="https://steveblank.com/category/familycareerculture/" rel="category tag">Family/Career/Culture</a>, <a href="https://steveblank.com/category/lean-launchpad/" rel="category tag">Lean LaunchPad</a>, <a href="https://steveblank.com/category/venture-capital/" rel="category tag">Venture Capital</a> | <a href="https://steveblank.com/2015/02/12/what-do-i-do-now/#comments">29 Comments »</a> </p> </div> </div> <div class="post-18218 post type-post status-publish format-standard hentry category-familycareerculture" id="post-18218"> <h2><a href="https://steveblank.com/2015/02/06/the-best-job-in-stamford-connecticut/" rel="bookmark">The Best Job in Stamford Connecticut</a></h2> <div class="postinfo"> Posted on <span class="postdate">February 6, 2015</span> by steve blank </div> <div class="entry"> <p>K&S Ranch Publishing has an exciting opening for a Book Traffic Coordinator living near Stamford, Connecticut. We need someone who can help get our library of entrepreneurship books into the hands of the startup founders and students who rely on them.</p> <p>The job involves figuring out where to best sell our books (<a href="http://www.amazon.com/gp/product/0984999302/ref=as_li_tf_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=0984999302&linkCode=as2&tag=wwwsteveblank-20">The Startup Owner’s Manual</a>, <a href="http://www.amazon.com/Four-Steps-Epiphany-Steve-Blank/dp/0989200507/ref=pd_sim_b_5?ie=UTF8&refRID=1EQD8E657CGWNXRBKP8Q">The Four Steps to the Epiphany</a>, and <a href="http://www.amazon.com/Holding-Cat-Tail-Steve-Blank/dp/0989200558/ref=asap_bc?ie=UTF8">Holding a Cat by the Tail</a>), and the logistics of managing inventory, sales and shipments of them.</p> <p>Maybe it’s a position for you or someone you know?</p> <p>It’s a great opportunity for someone detailed-oriented, and interested in startups and entrepreneurship.</p> <p>We want you if you are:</p> <ul> <li>Interested in making the numbers go up and not just writing them down</li> <li>Adept with Excel, QuickBooks and Word (finance, accounting and bookkeeping experience a plus) <ul> <li>And can suggest how to use that data to make a difference in our business</li> </ul> </li> <li>Professional and terrific on the phone with clients and vendors</li> <li>Web savvy</li> <li>Able to do your job without standing around waiting for direction</li> <li>Independently able understand and solve problems</li> </ul> <p>The work environment is casual and fun, hours could be flexible, and you’ll earn your pay every day.</p> <p>If this sounds like a job for you — or a friend or relative living in or near Stamford, Connecticut — send your resume to Terri S. Vanech at <a href="mailto:terri@kandsranch.com">terri@kandsranch.com</a></p> <div class="sharedaddy sd-sharing-enabled"><div class="robots-nocontent sd-block sd-social sd-social-official sd-sharing"><h3 class="sd-title">Share this:</h3><div class="sd-content"><ul><li class="share-print"><a rel="nofollow noopener noreferrer" data-shared="" class="share-print sd-button" href="https://steveblank.com/2015/02/06/the-best-job-in-stamford-connecticut/" target="_blank" title="Click to print" ><span>Print</span></a></li><li class="share-email"><a rel="nofollow noopener noreferrer" data-shared="" class="share-email sd-button" href="mailto:?subject=%5BShared%20Post%5D%20The%20Best%20Job%20in%20Stamford%20Connecticut&body=https%3A%2F%2Fsteveblank.com%2F2015%2F02%2F06%2Fthe-best-job-in-stamford-connecticut%2F&share=email" target="_blank" title="Click to email a link to a friend" data-email-share-error-title="Do you have email set up?" data-email-share-error-text="If you're having problems sharing via email, you might not have email set up for your browser. You may need to create a new email yourself." data-email-share-nonce="f9e1d9b298" data-email-share-track-url="https://steveblank.com/2015/02/06/the-best-job-in-stamford-connecticut/?share=email"><span>Email</span></a></li><li class="share-facebook"><div class="fb-share-button" data-href="https://steveblank.com/2015/02/06/the-best-job-in-stamford-connecticut/" data-layout="button_count"></div></li><li class="share-twitter"><a href="https://twitter.com/share" class="twitter-share-button" data-url="https://steveblank.com/2015/02/06/the-best-job-in-stamford-connecticut/" data-text="The Best Job in Stamford Connecticut" >Tweet</a></li><li class="share-linkedin"><div class="linkedin_button"><script type="in/share" data-url="https://steveblank.com/2015/02/06/the-best-job-in-stamford-connecticut/" data-counter="right"></script></div></li><li class="share-reddit"><a rel="nofollow noopener noreferrer" data-shared="" class="share-reddit sd-button" href="https://steveblank.com/2015/02/06/the-best-job-in-stamford-connecticut/?share=reddit" target="_blank" title="Click to share on Reddit" ><span>Reddit</span></a></li><li class="share-jetpack-whatsapp"><a rel="nofollow noopener noreferrer" data-shared="" class="share-jetpack-whatsapp sd-button" href="https://steveblank.com/2015/02/06/the-best-job-in-stamford-connecticut/?share=jetpack-whatsapp" target="_blank" title="Click to share on WhatsApp" ><span>WhatsApp</span></a></li><li class="share-pinterest"><div class="pinterest_button"><a href="https://www.pinterest.com/pin/create/button/?url=https%3A%2F%2Fsteveblank.com%2F2015%2F02%2F06%2Fthe-best-job-in-stamford-connecticut%2F&media=https%3A%2F%2Fs0.wp.com%2Fi%2Fwebclip.png&description=The%20Best%20Job%20in%20Stamford%20Connecticut" data-pin-do="buttonPin" data-pin-config="beside"><img data-recalc-dims="1" src="https://i0.wp.com/assets.pinterest.com/images/pidgets/pinit_fg_en_rect_gray_20.png?w=468" /></a></div></li><li class="share-telegram"><a rel="nofollow noopener noreferrer" data-shared="" class="share-telegram sd-button" href="https://steveblank.com/2015/02/06/the-best-job-in-stamford-connecticut/?share=telegram" target="_blank" title="Click to share on Telegram" ><span>Telegram</span></a></li><li class="share-tumblr"><a class="tumblr-share-button" target="_blank" href="https://www.tumblr.com/share" data-title="The Best Job in Stamford Connecticut" data-content="https://steveblank.com/2015/02/06/the-best-job-in-stamford-connecticut/" title="Share on Tumblr"data-posttype="link">Share on Tumblr</a></li><li class="share-pocket"><div class="pocket_button"><a href="https://getpocket.com/save" class="pocket-btn" data-lang="en" data-save-url="https://steveblank.com/2015/02/06/the-best-job-in-stamford-connecticut/" data-pocket-count="horizontal" >Pocket</a></div></li><li class="share-end"></li></ul></div></div></div><div class='sharedaddy sd-block sd-like jetpack-likes-widget-wrapper jetpack-likes-widget-unloaded' id='like-post-wrapper-6599589-18218-674239cf8770b' data-src='https://widgets.wp.com/likes/?ver=14.1-a.3#blog_id=6599589&post_id=18218&origin=steveblank.com&obj_id=6599589-18218-674239cf8770b&n=1' data-name='like-post-frame-6599589-18218-674239cf8770b' data-title='Like or Reblog'><h3 class="sd-title">Like this:</h3><div class='likes-widget-placeholder post-likes-widget-placeholder' style='height: 55px;'><span class='button'><span>Like</span></span> <span class="loading">Loading...</span></div><span class='sd-text-color'></span><a class='sd-link-color'></a></div> <p class="postinfo"> Filed under: <a href="https://steveblank.com/category/familycareerculture/" rel="category tag">Family/Career/Culture</a> | <a href="https://steveblank.com/2015/02/06/the-best-job-in-stamford-connecticut/#respond">Leave a comment »</a> </p> </div> </div> <div class="post-18186 post type-post status-publish format-standard hentry category-customer-development category-teaching" id="post-18186"> <h2><a href="https://steveblank.com/2015/02/03/what-happened-when-krave-jerky-showed-up-in-class-with-a-435000-check/" rel="bookmark">When Krave Jerky Showed up in Class with a $435,000 Check</a></h2> <div class="postinfo"> Posted on <span class="postdate">February 3, 2015</span> by steve blank </div> <div class="entry"> <p>I remind my students that I’m teaching them a methodology they can use the rest of their careers, not running an incubator.<img data-recalc-dims="1" loading="lazy" decoding="async" data-attachment-id="18191" data-permalink="https://steveblank.com/2015/02/03/what-happened-when-krave-jerky-showed-up-in-class-with-a-435000-check/krave-logo/" data-orig-file="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/krave-logo.jpg?fit=677%2C579&ssl=1" data-orig-size="677,579" data-comments-opened="1" data-image-meta="{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"0"}" data-image-title="krave logo" data-image-description="" data-image-caption="" data-medium-file="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/krave-logo.jpg?fit=300%2C257&ssl=1" data-large-file="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/krave-logo.jpg?fit=468%2C400&ssl=1" class="alignright size-thumbnail wp-image-18191" src="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/krave-logo.jpg?resize=150%2C128&ssl=1" alt="krave logo" width="150" height="128" /></p> <p>Every once in awhile a team ignores my advice and builds a company worth hundreds of millions of dollars.</p> <p><a href="http://www.thehersheycompany.com/newsroom/news-release.aspx?id=2011622">Hershey just bought Krave</a> Jerky, a team in our 2011 Berkeley Lean LaunchPad class, for <a href="http://www.reuters.com/article/2015/01/27/krave-ma-hershey-idUSL6N0V63NA20150127">>$200 million</a>.</p> <p>—–</p> <p>Jon Sebastiani and his team came into the 2011 Berkeley Lean LaunchPad class with several key observations:</p> <ul> <li>Snack foods were a large ~$35 billion but the moribund food category was starving for innovation and modernization</li> <li>Meat snacks were a $2.5 billion subcategory of snacks. So there was plenty of data that proved that Americans loved to snack and loved meat snacks.</li> <li>There was an opportunity for a new company “Jerky 2.0.” in the snack food market</li> <li>Jon believed his competition was the conventional “Meat Guys” (the existing beef jerky companies.)</li> </ul> <p>Jon’s big vision was to build a company that disrupted the meat snacks business. He believed that he could use the “go-to-market” strategies of other food/beverage disrupters– companies like Pete’s Brewing Company, Boston Beer and Kettle Chips. These new entrants disrupted their food categories by offering high quality proprietary recipes, outsourcing their manufacturing, and using their cash and resources on sales and marketing to build distribution and a differentiated brand. And Krave Jerky was going to be packaged, priced and positioned to be an everyday high quality snack experience – a “Mass Premium” positioning.</p> <p><a href="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/jerky-2-0.jpg?ssl=1"><img data-recalc-dims="1" loading="lazy" decoding="async" data-attachment-id="18192" data-permalink="https://steveblank.com/2015/02/03/what-happened-when-krave-jerky-showed-up-in-class-with-a-435000-check/jerky-2-0/" data-orig-file="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/jerky-2-0.jpg?fit=758%2C304&ssl=1" data-orig-size="758,304" data-comments-opened="1" data-image-meta="{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"0"}" data-image-title="Jerky 2.0" data-image-description="" data-image-caption="" data-medium-file="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/jerky-2-0.jpg?fit=300%2C120&ssl=1" data-large-file="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/jerky-2-0.jpg?fit=468%2C188&ssl=1" class="aligncenter size-large wp-image-18192" src="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/jerky-2-0.jpg?resize=468%2C188&ssl=1" alt="Jerky 2.0" width="468" height="188" /></a></p> <p><strong>Get Out of the Building<br /> </strong>Jon and the team came in with all the assurance of a startup that thought they knew what they were doing. Unlike most of the other teams in the class, Krave was already up and running. In fact, by the start of class they had ~$750K in revenue for 2011 – not quite Facebook but a nice small business. But Jon had much bigger ambitions.</p> <p>(For the teaching team this was our first opportunity to see if the Lean Startup process and this Lean LaunchPad class would work not just for new startups, but also for existing businesses, a test we would face years later teaching established Life Science companies rather than startups for the National Institutes of Health. The question was: Could we get these companies to pivot and learn when they already thought they had an existing business model?)</p> <p>Their sales had given them some real data on three potential distribution channels: direct to consumer, brick and mortar retail, retailers. But they had minimal understanding of their target customer segment(s), and in the relentlessly direct nature of the class, we let them know it.</p> <p>Rising to the occasion Jon and the team got out of the building and went to the Sonoma County Fair and Wine and other food festivals, and spoke to 50 customers. They ran 10 in-store demos, which got them talking to 100s of more customers.</p> <p>Each week the team presented their findings to the class and teaching team. Take a look through the slides below and see how their business model evolved with feedback from customers, channels and partners.</p> <iframe src='https://www.slideshare.net/slideshow/embed_code/44134818' width='468' height='384' sandbox="allow-popups allow-scripts allow-same-origin allow-presentation" allowfullscreen webkitallowfullscreen mozallowfullscreen></iframe> <p>If you can’t see the slides click <a href="http://www.slideshare.net/sblank/krave-jerky-lessons-learned" target="_blank">here</a></p> <p>They refined their branding, got a better handle on who their customers were, and in a real-time example for the rest of the class – had a full blown crisis. Krave’s original outsourced manufacturing partner decided to raise their price – to a point that Krave’s business model was no longer viable. The team demonstrated awesome agility and resilience as they scrambled to get a new manufacturing partner while continuing to do customer discovery and validation – and run their company.</p> <p><strong>What Do You Mean You Only Spoke to 1 Customer?<br /> </strong>One of the rules of the Lean LaunchPad class is: 10 customer interviews each week (in-person or video Skype) or you get told, “Sit down, you don’t get to present – presentations are only for the teams that did the work.”</p> <p>In week 9 of the class, the Krave team stood up, looked the teaching team right in the eyes and said, “We only talked to 1 customer this week and we only have 1 slide to present. Let us just put up this one slide and then we’ll sit down.” It was a pretty gutsy request – so sure, put up your slide.</p> <p>I was completely blown away with what was on the screen.<a href="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/kraves-check.jpg?ssl=1"><img data-recalc-dims="1" loading="lazy" decoding="async" data-attachment-id="18187" data-permalink="https://steveblank.com/2015/02/03/what-happened-when-krave-jerky-showed-up-in-class-with-a-435000-check/kraves-check/" data-orig-file="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/kraves-check.jpg?fit=1177%2C407&ssl=1" data-orig-size="1177,407" data-comments-opened="1" data-image-meta="{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"1"}" data-image-title="Kraves Check" data-image-description="" data-image-caption="" data-medium-file="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/kraves-check.jpg?fit=300%2C104&ssl=1" data-large-file="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/kraves-check.jpg?fit=468%2C162&ssl=1" class="aligncenter size-large wp-image-18187" src="https://i0.wp.com/steveblank.com/wp-content/uploads/2015/02/kraves-check.jpg?resize=468%2C162&ssl=1" alt="Kraves Check" width="468" height="162" /></a></p> <p>It was a check for $435,635 from a customer. And not just any customer; it was from one of the largest supermarket chains in the U.S. It was Krave’s first national stocking order.</p> <p><a href="//www.kravejerky.com" target="_blank">Krave</a> generated ~<a href="http://www.forbes.com/sites/maggiemcgrath/2015/01/29/hershey-jerky-120-year-old-chocolate-company-enters-the-meat-snack-business/" target="_blank">$35 million</a> in net sales over the last 12 months.</p> <p>Hershey plans to operate Krave as a standalone business within its Hershey North America division. Jon Sebastiani will continue to lead the business as President of Krave.</p> <p>Congratulations to Jon Sebastiani for ignoring the rules!</p> <p><strong>Lessons Learned</strong></p> <blockquote> <ul> <li>The Lean LaunchPad class works for existing businesses as well as new startups</li> <li>The only criteria is a willingness to accept that you may have to pivot – from the founders <span style="text-decoration:underline;">and</span> investors</li> </ul> </blockquote> <iframe loading="lazy" width="100%" height="66" scrolling="no" frameborder="no" src="https://w.soundcloud.com/player/?url=https%3A%2F%2Fapi.soundcloud.com%2Ftracks%2F189493151&width=false&auto_play=false&hide_related=false&visual=false&show_comments=false&color=false&show_user=false&show_reposts=false"></iframe> <div class="sharedaddy sd-sharing-enabled"><div class="robots-nocontent sd-block sd-social sd-social-official sd-sharing"><h3 class="sd-title">Share this:</h3><div class="sd-content"><ul><li class="share-print"><a rel="nofollow noopener noreferrer" data-shared="" class="share-print sd-button" href="https://steveblank.com/2015/02/03/what-happened-when-krave-jerky-showed-up-in-class-with-a-435000-check/" target="_blank" title="Click to print" ><span>Print</span></a></li><li class="share-email"><a rel="nofollow noopener noreferrer" data-shared="" class="share-email sd-button" href="mailto:?subject=%5BShared%20Post%5D%20When%20Krave%20Jerky%20Showed%20up%20in%20Class%20with%20a%20%24435%2C000%20Check&body=https%3A%2F%2Fsteveblank.com%2F2015%2F02%2F03%2Fwhat-happened-when-krave-jerky-showed-up-in-class-with-a-435000-check%2F&share=email" target="_blank" title="Click to email a link to a friend" data-email-share-error-title="Do you have email set up?" data-email-share-error-text="If you're having problems sharing via email, you might not have email set up for your browser. You may need to create a new email yourself." data-email-share-nonce="8bd3d2abb1" data-email-share-track-url="https://steveblank.com/2015/02/03/what-happened-when-krave-jerky-showed-up-in-class-with-a-435000-check/?share=email"><span>Email</span></a></li><li class="share-facebook"><div class="fb-share-button" data-href="https://steveblank.com/2015/02/03/what-happened-when-krave-jerky-showed-up-in-class-with-a-435000-check/" data-layout="button_count"></div></li><li class="share-twitter"><a href="https://twitter.com/share" class="twitter-share-button" data-url="https://steveblank.com/2015/02/03/what-happened-when-krave-jerky-showed-up-in-class-with-a-435000-check/" data-text="When Krave Jerky Showed up in Class with a $435,000 Check" >Tweet</a></li><li class="share-linkedin"><div class="linkedin_button"><script type="in/share" data-url="https://steveblank.com/2015/02/03/what-happened-when-krave-jerky-showed-up-in-class-with-a-435000-check/" data-counter="right"></script></div></li><li class="share-reddit"><a rel="nofollow noopener noreferrer" data-shared="" class="share-reddit sd-button" href="https://steveblank.com/2015/02/03/what-happened-when-krave-jerky-showed-up-in-class-with-a-435000-check/?share=reddit" target="_blank" title="Click to share on Reddit" ><span>Reddit</span></a></li><li class="share-jetpack-whatsapp"><a rel="nofollow noopener noreferrer" data-shared="" class="share-jetpack-whatsapp sd-button" href="https://steveblank.com/2015/02/03/what-happened-when-krave-jerky-showed-up-in-class-with-a-435000-check/?share=jetpack-whatsapp" target="_blank" title="Click to share on WhatsApp" ><span>WhatsApp</span></a></li><li class="share-pinterest"><div class="pinterest_button"><a href="https://www.pinterest.com/pin/create/button/?url=https%3A%2F%2Fsteveblank.com%2F2015%2F02%2F03%2Fwhat-happened-when-krave-jerky-showed-up-in-class-with-a-435000-check%2F&media=https%3A%2F%2Fsteveblank.com%2Fwp-content%2Fuploads%2F2015%2F02%2Fjerky-2-0.jpg&description=When%20Krave%20Jerky%20Showed%20up%20in%20Class%20with%20a%20%24435%2C000%20Check" data-pin-do="buttonPin" data-pin-config="beside"><img data-recalc-dims="1" src="https://i0.wp.com/assets.pinterest.com/images/pidgets/pinit_fg_en_rect_gray_20.png?w=468" /></a></div></li><li class="share-telegram"><a rel="nofollow noopener noreferrer" data-shared="" class="share-telegram sd-button" href="https://steveblank.com/2015/02/03/what-happened-when-krave-jerky-showed-up-in-class-with-a-435000-check/?share=telegram" target="_blank" title="Click to share on Telegram" ><span>Telegram</span></a></li><li class="share-tumblr"><a class="tumblr-share-button" target="_blank" href="https://www.tumblr.com/share" data-title="When Krave Jerky Showed up in Class with a $435,000 Check" data-content="https://steveblank.com/2015/02/03/what-happened-when-krave-jerky-showed-up-in-class-with-a-435000-check/" title="Share on Tumblr"data-posttype="link">Share on Tumblr</a></li><li class="share-pocket"><div class="pocket_button"><a href="https://getpocket.com/save" class="pocket-btn" data-lang="en" data-save-url="https://steveblank.com/2015/02/03/what-happened-when-krave-jerky-showed-up-in-class-with-a-435000-check/" data-pocket-count="horizontal" >Pocket</a></div></li><li class="share-end"></li></ul></div></div></div><div class='sharedaddy sd-block sd-like jetpack-likes-widget-wrapper jetpack-likes-widget-unloaded' id='like-post-wrapper-6599589-18186-674239cf8b225' data-src='https://widgets.wp.com/likes/?ver=14.1-a.3#blog_id=6599589&post_id=18186&origin=steveblank.com&obj_id=6599589-18186-674239cf8b225&n=1' data-name='like-post-frame-6599589-18186-674239cf8b225' data-title='Like or Reblog'><h3 class="sd-title">Like this:</h3><div class='likes-widget-placeholder post-likes-widget-placeholder' style='height: 55px;'><span class='button'><span>Like</span></span> <span class="loading">Loading...</span></div><span class='sd-text-color'></span><a class='sd-link-color'></a></div> <p class="postinfo"> Filed under: <a href="https://steveblank.com/category/customer-development/" rel="category tag">Customer Development</a>, <a href="https://steveblank.com/category/teaching/" rel="category tag">Teaching</a> | <a href="https://steveblank.com/2015/02/03/what-happened-when-krave-jerky-showed-up-in-class-with-a-435000-check/#comments">9 Comments »</a> </p> </div> </div> <div class="browse"></div> </div> </div></div> <div class="sidebar"> <ul> <li><h2>Calendar</h2> <ul> <li><table id="wp-calendar" class="wp-calendar-table"> <caption>February 2015</caption> <thead> <tr> <th scope="col" title="Monday">M</th> <th scope="col" title="Tuesday">T</th> <th scope="col" title="Wednesday">W</th> <th scope="col" title="Thursday">T</th> <th scope="col" title="Friday">F</th> <th scope="col" title="Saturday">S</th> <th scope="col" title="Sunday">S</th> </tr> </thead> <tbody> <tr> <td colspan="6" class="pad"> </td><td>1</td> </tr> <tr> <td>2</td><td><a href="https://steveblank.com/2015/02/03/" aria-label="Posts published on February 3, 2015">3</a></td><td>4</td><td>5</td><td><a href="https://steveblank.com/2015/02/06/" aria-label="Posts published on February 6, 2015">6</a></td><td>7</td><td>8</td> </tr> <tr> <td>9</td><td>10</td><td>11</td><td><a href="https://steveblank.com/2015/02/12/" aria-label="Posts published on February 12, 2015">12</a></td><td>13</td><td>14</td><td>15</td> </tr> <tr> <td>16</td><td>17</td><td>18</td><td><a href="https://steveblank.com/2015/02/19/" aria-label="Posts published on February 19, 2015">19</a></td><td>20</td><td>21</td><td>22</td> </tr> <tr> <td>23</td><td><a href="https://steveblank.com/2015/02/24/" aria-label="Posts published on February 24, 2015">24</a></td><td>25</td><td>26</td><td>27</td><td>28</td> <td class="pad" colspan="1"> </td> </tr> </tbody> </table><nav aria-label="Previous and next months" class="wp-calendar-nav"> <span class="wp-calendar-nav-prev"><a href="https://steveblank.com/2015/01/">« Jan</a></span> <span class="pad"> </span> <span class="wp-calendar-nav-next"><a href="https://steveblank.com/2015/03/">Mar »</a></span> </nav></li> </ul> </li> <li id="linkcat-697967627" class="linkcat"><h2>Customer Development</h2> <ul class='xoxo blogroll'> <li><a href="http://www.slideshare.net/sblank" rel="noopener" target="_blank">Customer Development Methodology – slides</a></li> <li><a href="http://startuplessonslearned.blogspot.com/search?q=%22customer+development%22" rel="noopener" target="_blank">Eric Ries on Customer Development</a></li> <li><a href="http://www.amazon.com/Four-Steps-Epiphany-Steven-Blank/dp/0976470705" rel="noopener" title="My book about Customer Development and more" target="_blank">Four Steps to the Epiphany – the book</a></li> <li><a href="http://ecorner.stanford.edu/authorMaterialInfo.html?mid=2048" rel="noopener" target="_blank">Stanford Entrepreneurial Leadership Talks by Steve Blank</a></li> <li><a href="http://www.slideshare.net/startuplessonslearned/lean-startup-presentation-to-maples-investments-by-steve-blank-and-eric-ries-presentation" rel="noopener" target="_blank">The Lean Startup by Eric Ries & Steve Blank – slides</a></li> </ul> </li> <li id="linkcat-697967628" class="linkcat"><h2>Secret History of Silicon Valley</h2> <ul class='xoxo blogroll'> <li><a href="http://www.slideshare.net/sblank/secret-history-of-silicon-valley-rev-4-dec-09" rel="noopener" target="_blank">The Secret History of Silicon Valley – Dec 2009 slides</a></li> <li><a href="http://www.youtube.com/watch?v=ZTC_RxWN_xo" rel="noopener" title="Recorded at the Computer History Museum Nov. 20, 2008" target="_blank">The Secret History of Silicon Valley – video</a></li> </ul> </li> </ul> </div> </div> <div id="footer"> <p><a href="https://wordpress.com/?ref=footer_custom_powered">Powered by WordPress.com</a>. WP Designer.</p> </div> </div> </div>  <script defer id="bilmur" data-customproperties="{"woo_active":"0"}" data-provider="wordpress.com" data-service="atomic" src="https://s0.wp.com/wp-content/js/bilmur.min.js?m=202447"></script> <div id="jp-carousel-loading-overlay"> <div id="jp-carousel-loading-wrapper"> <span id="jp-carousel-library-loading"> </span> </div> </div> <div class="jp-carousel-overlay" style="display: none;"> <div class="jp-carousel-container">  <div class="jp-carousel-wrap swiper-container jp-carousel-swiper-container jp-carousel-transitions" itemscope itemtype="https://schema.org/ImageGallery"> <div class="jp-carousel swiper-wrapper"></div> <div class="jp-swiper-button-prev swiper-button-prev"> <svg width="25" height="24" viewBox="0 0 25 24" fill="none" xmlns="http://www.w3.org/2000/svg"> <mask id="maskPrev" mask-type="alpha" maskUnits="userSpaceOnUse" x="8" y="6" width="9" height="12"> <path d="M16.2072 16.59L11.6496 12L16.2072 7.41L14.8041 6L8.8335 12L14.8041 18L16.2072 16.59Z" fill="white"/> </mask> <g mask="url(#maskPrev)"> <rect x="0.579102" width="23.8823" height="24" fill="#FFFFFF"/> </g> </svg> </div> <div class="jp-swiper-button-next swiper-button-next"> <svg width="25" height="24" viewBox="0 0 25 24" fill="none" xmlns="http://www.w3.org/2000/svg"> <mask id="maskNext" mask-type="alpha" maskUnits="userSpaceOnUse" x="8" y="6" width="8" height="12"> <path d="M8.59814 16.59L13.1557 12L8.59814 7.41L10.0012 6L15.9718 12L10.0012 18L8.59814 16.59Z" fill="white"/> </mask> <g mask="url(#maskNext)"> <rect x="0.34375" width="23.8822" height="24" fill="#FFFFFF"/> </g> </svg> </div> </div>  <div class="jp-carousel-close-hint"> <svg width="25" height="24" viewBox="0 0 25 24" fill="none" xmlns="http://www.w3.org/2000/svg"> <mask id="maskClose" mask-type="alpha" maskUnits="userSpaceOnUse" x="5" y="5" width="15" height="14"> <path d="M19.3166 6.41L17.9135 5L12.3509 10.59L6.78834 5L5.38525 6.41L10.9478 12L5.38525 17.59L6.78834 19L12.3509 13.41L17.9135 19L19.3166 17.59L13.754 12L19.3166 6.41Z" fill="white"/> </mask> <g mask="url(#maskClose)"> <rect x="0.409668" width="23.8823" height="24" fill="#FFFFFF"/> </g> </svg> </div>  <div class="jp-carousel-info"> <div class="jp-carousel-info-footer"> <div class="jp-carousel-pagination-container"> <div class="jp-swiper-pagination swiper-pagination"></div> <div class="jp-carousel-pagination"></div> </div> <div class="jp-carousel-photo-title-container"> <h2 class="jp-carousel-photo-caption"></h2> </div> <div class="jp-carousel-photo-icons-container"> <a href="#" class="jp-carousel-icon-btn jp-carousel-icon-info" aria-label="Toggle photo metadata visibility"> <span class="jp-carousel-icon"> <svg width="25" height="24" viewBox="0 0 25 24" fill="none" xmlns="http://www.w3.org/2000/svg"> <mask id="maskInfo" mask-type="alpha" maskUnits="userSpaceOnUse" x="2" y="2" width="21" height="20"> <path fill-rule="evenodd" clip-rule="evenodd" d="M12.7537 2C7.26076 2 2.80273 6.48 2.80273 12C2.80273 17.52 7.26076 22 12.7537 22C18.2466 22 22.7046 17.52 22.7046 12C22.7046 6.48 18.2466 2 12.7537 2ZM11.7586 7V9H13.7488V7H11.7586ZM11.7586 11V17H13.7488V11H11.7586ZM4.79292 12C4.79292 16.41 8.36531 20 12.7537 20C17.142 20 20.7144 16.41 20.7144 12C20.7144 7.59 17.142 4 12.7537 4C8.36531 4 4.79292 7.59 4.79292 12Z" fill="white"/> </mask> <g mask="url(#maskInfo)"> <rect x="0.8125" width="23.8823" height="24" fill="#FFFFFF"/> </g> </svg> </span> </a> <a href="#" class="jp-carousel-icon-btn jp-carousel-icon-comments" aria-label="Toggle photo comments visibility"> <span class="jp-carousel-icon"> <svg width="25" height="24" viewBox="0 0 25 24" fill="none" xmlns="http://www.w3.org/2000/svg"> <mask id="maskComments" mask-type="alpha" maskUnits="userSpaceOnUse" x="2" y="2" width="21" height="20"> <path fill-rule="evenodd" clip-rule="evenodd" d="M4.3271 2H20.2486C21.3432 2 22.2388 2.9 22.2388 4V16C22.2388 17.1 21.3432 18 20.2486 18H6.31729L2.33691 22V4C2.33691 2.9 3.2325 2 4.3271 2ZM6.31729 16H20.2486V4H4.3271V18L6.31729 16Z" fill="white"/> </mask> <g mask="url(#maskComments)"> <rect x="0.34668" width="23.8823" height="24" fill="#FFFFFF"/> </g> </svg> <span class="jp-carousel-has-comments-indicator" aria-label="This image has comments."></span> </span> </a> </div> </div> <div class="jp-carousel-info-extra"> <div class="jp-carousel-info-content-wrapper"> <div class="jp-carousel-photo-title-container"> <h2 class="jp-carousel-photo-title"></h2> </div> <div class="jp-carousel-comments-wrapper"> <div id="jp-carousel-comments-loading"> <span>Loading Comments...</span> </div> <div class="jp-carousel-comments"></div> <div id="jp-carousel-comment-form-container"> <span id="jp-carousel-comment-form-spinner"> </span> <div id="jp-carousel-comment-post-results"></div> <form id="jp-carousel-comment-form"> <label for="jp-carousel-comment-form-comment-field" class="screen-reader-text">Write a Comment...</label> <textarea name="comment" class="jp-carousel-comment-form-field jp-carousel-comment-form-textarea" id="jp-carousel-comment-form-comment-field" placeholder="Write a Comment..." ></textarea> <div id="jp-carousel-comment-form-submit-and-info-wrapper"> <div id="jp-carousel-comment-form-commenting-as"> <fieldset> <label for="jp-carousel-comment-form-email-field">Email</label> <input type="text" name="email" class="jp-carousel-comment-form-field jp-carousel-comment-form-text-field" id="jp-carousel-comment-form-email-field" /> </fieldset> <fieldset> <label for="jp-carousel-comment-form-author-field">Name</label> <input type="text" name="author" class="jp-carousel-comment-form-field jp-carousel-comment-form-text-field" id="jp-carousel-comment-form-author-field" /> </fieldset> <fieldset> <label for="jp-carousel-comment-form-url-field">Website</label> <input type="text" name="url" class="jp-carousel-comment-form-field jp-carousel-comment-form-text-field" id="jp-carousel-comment-form-url-field" /> </fieldset> </div> <input type="submit" name="submit" class="jp-carousel-comment-form-button" id="jp-carousel-comment-form-button-submit" value="Post Comment" /> </div> </form> </div> </div> <div class="jp-carousel-image-meta"> <div class="jp-carousel-title-and-caption"> <div class="jp-carousel-photo-info"> <h3 class="jp-carousel-caption" itemprop="caption description"></h3> </div> <div class="jp-carousel-photo-description"></div> </div> <ul class="jp-carousel-image-exif" style="display: none;"></ul> <a class="jp-carousel-image-download" href="#" target="_blank" style="display: none;"> <svg width="25" height="24" viewBox="0 0 25 24" fill="none" xmlns="http://www.w3.org/2000/svg"> <mask id="mask0" mask-type="alpha" maskUnits="userSpaceOnUse" x="3" y="3" width="19" height="18"> <path fill-rule="evenodd" clip-rule="evenodd" d="M5.84615 5V19H19.7775V12H21.7677V19C21.7677 20.1 20.8721 21 19.7775 21H5.84615C4.74159 21 3.85596 20.1 3.85596 19V5C3.85596 3.9 4.74159 3 5.84615 3H12.8118V5H5.84615ZM14.802 5V3H21.7677V10H19.7775V6.41L9.99569 16.24L8.59261 14.83L18.3744 5H14.802Z" fill="white"/> </mask> <g mask="url(#mask0)"> <rect x="0.870605" width="23.8823" height="24" fill="#FFFFFF"/> </g> </svg> <span class="jp-carousel-download-text"></span> </a> <div class="jp-carousel-image-map" style="display: none;"></div> </div> </div> </div> </div> </div> </div> <script type="text/javascript"> window.WPCOM_sharing_counts = {"https:\/\/steveblank.com\/2015\/02\/24\/market-type-and-revenue-2-minutes-to-find-out-why\/":18284,"https:\/\/steveblank.com\/2015\/02\/19\/life-science-startups-rising-in-the-uk\/":18254,"https:\/\/steveblank.com\/2015\/02\/12\/what-do-i-do-now\/":18224,"https:\/\/steveblank.com\/2015\/02\/06\/the-best-job-in-stamford-connecticut\/":18218,"https:\/\/steveblank.com\/2015\/02\/03\/what-happened-when-krave-jerky-showed-up-in-class-with-a-435000-check\/":18186}; </script> <div id="fb-root"></div> <script>(function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = 'https://connect.facebook.net/en_US/sdk.js#xfbml=1&appId=249643311490&version=v2.3'; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk'));</script> <script> document.body.addEventListener( 'is.post-load', function() { if ( 'undefined' !== typeof FB ) { FB.XFBML.parse(); } } ); </script> <script>!function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0],p=/^http:/.test(d.location)?'http':'https';if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src=p+'://platform.twitter.com/widgets.js';fjs.parentNode.insertBefore(js,fjs);}}(document, 'script', 'twitter-wjs');</script> <script type="text/javascript"> ( function () { var currentScript = document.currentScript; // Helper function to load an external script. function loadScript( url, cb ) { var script = document.createElement( 'script' ); var prev = currentScript || document.getElementsByTagName( 'script' )[ 0 ]; script.setAttribute( 'async', true ); script.setAttribute( 'src', url ); prev.parentNode.insertBefore( script, prev ); script.addEventListener( 'load', cb ); } function init() { loadScript( 'https://platform.linkedin.com/in.js?async=true', function () { if ( typeof IN !== 'undefined' ) { IN.init(); } } ); } if ( document.readyState === 'loading' ) { document.addEventListener( 'DOMContentLoaded', init ); } else { init(); } document.body.addEventListener( 'is.post-load', function() { if ( typeof IN !== 'undefined' ) { IN.parse(); } } ); } )(); </script> <script type="text/javascript"> ( function () { // Pinterest shared resources var s = document.createElement( 'script' ); s.type = 'text/javascript'; s.async = true; s.setAttribute( 'data-pin-hover', true ); s.src = window.location.protocol + '//assets.pinterest.com/js/pinit.js'; var x = document.getElementsByTagName( 'script' )[ 0 ]; x.parentNode.insertBefore(s, x); // if 'Pin it' button has 'counts' make container wider function init() { var shares = document.querySelectorAll( 'li.share-pinterest' ); for ( var i = 0; i < shares.length; i++ ) { var share = shares[ i ]; var countElement = share.querySelector( 'a span' ); if (countElement) { var countComputedStyle = window.getComputedStyle(countElement); if ( countComputedStyle.display === 'block' ) { var countWidth = parseInt( countComputedStyle.width, 10 ); share.style.marginRight = countWidth + 11 + 'px'; } } } } if ( document.readyState !== 'complete' ) { document.addEventListener( 'load', init ); } else { init(); } } )(); </script> <script id="tumblr-js" type="text/javascript" src="https://assets.tumblr.com/share-button.js"></script> <script> ( function () { var currentScript = document.currentScript; // Don't use Pocket's default JS as it we need to force init new Pocket share buttons loaded via JS. function jetpack_sharing_pocket_init() { var script = document.createElement( 'script' ); var prev = currentScript || document.getElementsByTagName( 'script' )[ 0 ]; script.setAttribute( 'async', true ); script.setAttribute( 'src', 'https://widgets.getpocket.com/v1/j/btn.js?v=1' ); prev.parentNode.insertBefore( script, prev ); } if ( document.readyState === 'loading' ) { document.addEventListener( 'DOMContentLoaded', jetpack_sharing_pocket_init ); } else { jetpack_sharing_pocket_init(); } document.body.addEventListener( 'is.post-load', jetpack_sharing_pocket_init ); } )(); </script> <script type="text/javascript" id="jetpack-carousel-js-extra"> /* <![CDATA[ */ var jetpackSwiperLibraryPath = {"url":"https:\/\/steveblank.com\/wp-content\/plugins\/jetpack\/_inc\/build\/carousel\/swiper-bundle.min.js"}; var jetpackCarouselStrings = {"widths":[370,700,1000,1200,1400,2000],"is_logged_in":"","lang":"en","ajaxurl":"https:\/\/steveblank.com\/wp-admin\/admin-ajax.php","nonce":"de73d28c75","display_exif":"1","display_comments":"1","single_image_gallery":"1","single_image_gallery_media_file":"","background_color":"black","comment":"Comment","post_comment":"Post Comment","write_comment":"Write a Comment...","loading_comments":"Loading Comments...","image_label":"Open image in full-screen.","download_original":"View full size <span class=\"photo-size\">{0}<span class=\"photo-size-times\">\u00d7<\/span>{1}<\/span>","no_comment_text":"Please be sure to submit some text with your comment.","no_comment_email":"Please provide an email address to comment.","no_comment_author":"Please provide your name to comment.","comment_post_error":"Sorry, but there was an error posting your comment. Please try again later.","comment_approved":"Your comment was approved.","comment_unapproved":"Your comment is in moderation.","camera":"Camera","aperture":"Aperture","shutter_speed":"Shutter Speed","focal_length":"Focal Length","copyright":"Copyright","comment_registration":"0","require_name_email":"0","login_url":"https:\/\/steveblank.com\/wp-login.php?redirect_to=https%3A%2F%2Fsteveblank.com%2F2015%2F02%2F24%2Fmarket-type-and-revenue-2-minutes-to-find-out-why%2F","blog_id":"1","meta_data":["camera","aperture","shutter_speed","focal_length","copyright"]}; /* ]]> */ </script> <script type='text/javascript' src='https://steveblank.com/_static/??-eJyVzM0OgjAQBOAXsmwVf07GRzGl3eC2y1JpN4S3h4NcjR5nJvPN2fhRKkqFzNqTFIhYs/MJniQeOiUO4N00akHeN7MXzUDSxHKYf2IqMQbTO2aclm/pP5YpYYG3ouLLSdiAz/8x3I+31p7s9XK2KyLnV3k='></script> <script type="text/javascript" src="https://stats.wp.com/e-202447.js" id="jetpack-stats-js" data-wp-strategy="defer"></script> <script type="text/javascript" id="jetpack-stats-js-after"> /* <![CDATA[ */ _stq = window._stq || []; _stq.push([ "view", JSON.parse("{\"v\":\"ext\",\"blog\":\"6599589\",\"post\":\"0\",\"tz\":\"-8\",\"srv\":\"steveblank.com\",\"hp\":\"atomic\",\"ac\":\"2\",\"amp\":\"0\",\"j\":\"1:14.1-a.3\"}") ]); _stq.push([ "clickTrackerInit", "6599589", "0" ]); /* ]]> */ </script> <script type="text/javascript" id="sharing-js-js-extra"> /* <![CDATA[ */ var sharing_js_options = {"lang":"en","counts":"1","is_stats_active":"1"}; /* ]]> */ </script> <script type="text/javascript" src="https://steveblank.com/wp-content/plugins/jetpack/_inc/build/sharedaddy/sharing.min.js?ver=14.1-a.3" id="sharing-js-js"></script> <script type="text/javascript" id="sharing-js-js-after"> /* <![CDATA[ */ var windowOpen; ( function () { function matches( el, sel ) { return !! ( el.matches && el.matches( sel ) || el.msMatchesSelector && el.msMatchesSelector( sel ) ); } document.body.addEventListener( 'click', function ( event ) { if ( ! event.target ) { return; } var el; if ( matches( event.target, 'a.share-facebook' ) ) { el = event.target; } else if ( event.target.parentNode && matches( event.target.parentNode, 'a.share-facebook' ) ) { el = event.target.parentNode; } if ( el ) { event.preventDefault(); // If there's another sharing window open, close it. if ( typeof windowOpen !== 'undefined' ) { windowOpen.close(); } windowOpen = window.open( el.getAttribute( 'href' ), 'wpcomfacebook', 'menubar=1,resizable=1,width=600,height=400' ); return false; } } ); } )(); var windowOpen; ( function () { function matches( el, sel ) { return !! ( el.matches && el.matches( sel ) || el.msMatchesSelector && el.msMatchesSelector( sel ) ); } document.body.addEventListener( 'click', function ( event ) { if ( ! event.target ) { return; } var el; if ( matches( event.target, 'a.share-telegram' ) ) { el = event.target; } else if ( event.target.parentNode && matches( event.target.parentNode, 'a.share-telegram' ) ) { el = event.target.parentNode; } if ( el ) { event.preventDefault(); // If there's another sharing window open, close it. if ( typeof windowOpen !== 'undefined' ) { windowOpen.close(); } windowOpen = window.open( el.getAttribute( 'href' ), 'wpcomtelegram', 'menubar=1,resizable=1,width=450,height=450' ); return false; } } ); } )(); /* ]]> */ </script> <iframe src='https://widgets.wp.com/likes/master.html?ver=20241123#ver=20241123&n=1' scrolling='no' id='likes-master' name='likes-master' style='display:none;'></iframe> <div id='likes-other-gravatars' class='wpl-new-layout' role="dialog" aria-hidden="true" tabindex="-1"><div class="likes-text"><span>%d</span></div><ul class="wpl-avatars sd-like-gravatars"></ul></div> </body> </html>