11 Great Ideas from Steve Blank

Several people commented how much they liked the Steve Blank video on how to build a great company from last week. For existing Steve Blank acolytes, it was the same excellent material found in his books and blogs. If you haven’t had the chance to watch the video, here are 11 great ideas from Steve Blank’s talk:

  1. Startups are not smaller versions of larger companies (1:53)
  2. Startups are searching for a business model (2:45)
  3. A startup is a series of untested guesses (4:25)
  4. Turn passion and faith into facts as quickly as possible (4:56)
  5. There are no facts inside your building, so get the heck outside (9:40)
  6. Startups aren’t allowed to hire a VP of Sales until a proven model as founders should be out selling at least 20% of the time (18:03)
  7. Fire the plan instead of the executives as a startup goes from failure to failure in search of a business model (22:18)
  8. A startup is a temporary organization designed to search for a scalable and repeatable business model (23:13)
  9. The day the entrepreneur finds the repeatable business model, VCs perk up and start getting more involved because the chance of liquidity goes way up (27:35)
  10. Three phases to the company: search, build, and execute (28:58)
  11. It’s not about the technology. It’s about technology that has great customer fit. (40:37)

Entrepreneurs would do well to follow Steve Blank’s blog and read The Startup Owner’s Manual.

What else? What are some other great ideas from Steve Blank?

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