A Quote by Steve Blank
A startup is a temporary organization designed to search for a repeatable and scalable business model.
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There's nothing wrong with a business that supports you and perhaps an extended family. But if you want to build a scalable startup, you need to be asking how you can you get enough customers/users/payers to build a business that can grow revenues past several $100M/year.
There is what Steve Blank calls the stage where you are searching for a scalable business model. Then, there is the stage when you have found that model and need to scale it. In the former stage you have to have a "beginner's mind," be in learning mode, and expect to learn things you didn't anticipate.
I've been very fortunate to be at the startup of a lot of different things. I was the startup of the Pancrase organization in Japan. Became a big figure over there. Then I was in the UFC and was at the startup of that, and I was a big figure in that. Twice. Not only in the beginning but also when it was taken over.
An aftermath of real failures can make the whole blockchain ecosystem more resilient because it will result in revealing the boundaries and realities of what's possible, useful, absurd, impossible, repeatable, and scalable out of everything that appears plausible and innovative at the beginning.
Each industry in a region should develop a playbook that expands and details the strategy and tactics of how to build a scalable startup.
We now understand the distinction between startups - who search for a business model - versus existing companies - that execute a business plan.
A new DAO is like a startup. It requires a product/market fit, business model realization, and a lot of users/customers.
To fix the business, to bring it back to health, you must assimilate enough of the disruptive innovation to modernize the operating model without jettisoning your business model. This typically requires new leaders and definitely requires new (if temporary) rules. The CEO is the only person who can dictate the correct terms in a timely manner and maintain the enterprise's commitment to those terms for the duration of the rehabilitation effort.
Business plans are the tool existing companies use for execution. They are the wrong tool to search for a business model.
Face-to-face customer feedback refines or validates every component of the startup's business model, not just the product itself.
We don't have a business model for health care in this country, We just have a business model for care. The way doctors and hospitals get paid is something bad has got to happen. It's a pure reactive model.
It's extremely hard to build a company with a product that everyone loves, is free and has no business model, and then to innovate a business model. I did that with Kazaa, had half a billion downloads but that wasn't a sustainable business.
The IT organization can't drive or lead a digital transformation. It has to come from the business and the business strategy, because they're fundamental to how a company or an organization evolves.
If you're building a startup or any sort of organization, take a few moments to reflect on the qualities that the people you most enjoy working with embody and the user experience of new people joining your organization, from the offer letter to their first day.
We tell our portfolio companies that it's really important to be metrics-driven and to track their conversions. It goes back to building that scalable sales model.
The basic problem is with the business model of journalism. That business model is premised on the idea that talk is cheap and reporting is expensive.
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