The Four Steps to the Epiphany Quotes

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The Four Steps to the Epiphany: Successful Strategies for Startups That Win The Four Steps to the Epiphany: Successful Strategies for Startups That Win by Steve Blank
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The Four Steps to the Epiphany Quotes Showing 1-30 of 72
“My advice was to start a policy of making reversible decisions before anyone left the meeting or the office. In a startup, it doesn’t matter if you’re 100 percent right 100 percent of the time. What matters is having forward momentum and a tight fact-based data/metrics feedback loop to help you quickly recognize and reverse any incorrect decisions. That’s why startups are agile. By the time a big company gets the committee to organize the subcommittee to pick a meeting date, your startup could have made 20 decisions, reversed five of them and implemented the fifteen that worked.”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“In a startup no facts exist inside the building, only opinions.”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“In the early stages of a startup, focusing on “execution” will put you out of business. Instead, you need a “learning and discovery” process so you can get the company to the point where you know what to execute.”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“I ask them, “If the product were free, how many would you actually deploy or use?” The goal is to take pricing away as an issue and see whether the product itself gets customers excited. If it does, I follow up with: “OK, it’s not free. In fact, imagine I charged you $1 million. Would you buy it?” While this may sound like a facetious dialog, I use it all the time. Why? Because more than half the time customers will say something like, “Steve, you’re out of your mind. This product isn’t worth more than $250,000.” I’ve just gotten customers to tell me how much they are willing to pay. Wow.”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“Intellect without will is worthless, will without intellect is dangerous. — Sun Tzu,”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“The greatest risk—and hence the greatest cause of failure—in startups is not in the development of the new product but in the development of customers and markets. Startups”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“Have we identified a problem a customer wants solved? Does our product solve these customer needs? If so, do we have a viable and profitable business model? Have we learned enough to go out and sell? Answering these questions is the purpose of the first step in the Customer Development model, Customer Discovery. This chapter explains how to go about it.”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“Build it and they will come,” is not a strategy; it’s a prayer.”
Steve Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“Using the Product Development Waterfall diagram for Customer Development activities is like using a clock to tell the temperature. They both measure something, but not the thing you wanted.”
Steve Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“half-life of a startup VP of Sales is about nine months”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“Earlyvangelists can be identified by these customer characteristics (see Figure 3.1): The customer has a problem The customer understands he or she has a problem The customer is actively searching for a solution and has a timetable for finding it The problem is painful enough the customer has cobbled together an interim solution The customer has committed, or can quickly acquire, budget dollars to solve the problem”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“In Webvan’s case premature scaling was an integral part of the company culture and the prevailing venture capital “get big fast” mantra. Webvan spent $18 million to develop proprietary software and $40 million to set up its first automated warehouse before it had shipped a single item. Premature scaling had dire consequences since Webvan’s spending was on a scale that ensures it will be taught in business school case studies for years to come. As customer behavior continued to differ from the predictions in Webvan’s business plan, the company slowly realized it had overbuilt and over-designed. The business model made sense only at the high volumes predicted on the spreadsheet.”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“What’s the difference between positioning the product and positioning the company?”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“The mantra of Phase 4 of Company Building is provided by the war-fighting doctrine of the U.S. Marine Corps: Whoever can make and implement his decisions consistently faster gains a tremendous, often decisive, advantage. Decision-making thus becomes a time-competitive process, and timeliness of decisions becomes essential to generating tempo.”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“In short, in big companies, the product spec is market-driven; in startups, the marketing is product-driven.”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“A good plan violently executed now is better than a perfect plan next week.” The”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“Being a great entrepreneur means finding the path through the fog, confusion and myriad of choices.”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“trying to micromanage employees slows decisions and kills individual initiative. Attempting to impose precise order on how a project in a department is accomplished stifles creativity and leads to a formulistic approach to business problems. Insisting”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“In a startup, the first product is not designed to satisfy a mainstream customer. No startup can afford the engineering effort or the time to build a product with every feature a mainstream customer needs in its first release.”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“The appropriate milestones measuring a startup’s progress answer these questions: How well do we understand what problems customers have? How much will they pay to solve those problems? Do our product features solve these problems? Do we understand our customers’ business? Do we understand the hierarchy of customer needs? Have we found visionary customers, ones who will buy our product early? Is our product a must-have for these customers? Do we understand the sales roadmap well enough to consistently sell the product? Do we understand what we need to be profitable? Are the sales and business plans realistic, scalable, and achievable? What do we do if our model turns out to be wrong?”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“On the day the company starts, there is very limited customer input to a product specification. The company doesn’t know who its initial customers are (but it may think it knows) or what they will want as features. One alternative is to put Product Development on hold until the Customer Development team can find those customers. However, having a product you can demonstrate and iterate is helpful in moving the Customer Development process along. A more productive approach is to proceed with Product Development, with the feature list driven by the vision and experience of the company’s founders.”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“The first customer ship date does not mean the company understands its customers or how to market or sell to them. (Read”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“the first product in a startup, your initial purpose in meeting customers is not to gather feature requests so you can change the product; it is to find customers for the product you are already building.”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“Imagine you were able to help customers justify the ROI for your product. That would be pretty powerful, wouldn’t it? Yep.”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“Positioning your product against the slew of existing competitors is accomplished by adroitly picking the correct product features where you are better.”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“When one company owns over 80 percent share (think Microsoft), that player is the owner of the market and a monopolist. The only possible move you have is resegmenting this market.”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“Technology is adopted in phases by distinct groups: technology enthusiasts, visionaries, pragmatists, conservatives, and skeptics.”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“All new companies and new products begin with an almost mythological vision—a hope of what could be, with a goal few others can see.”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“The reality is that testing an unfinished product for Engineering and testing a customer’s willingness to buy an unfinished product are separate, unrelated functions. Customer Validation is not about having customers pay for products that are engineering tests. It’s about validating the entire market and business model.”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win
“If they agree with you about the problems, get them to explain why they think it is important to solve them”
Steven Gary Blank, The Four Steps to the Epiphany: Successful Strategies for Startups That Win

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