Steve Blank’s Startup Lessons Learned Keynote – It’s a “Must Watch”

Startups search and pivot; companies execute.
Key startup numbers are not: balance sheet, income statements and cashflow.  They are cash, viral coefficient, customer acquisition cost, burn rate, average transaction size…
Customer and agile development is how you search for a business model.
Customer development = hypothesis testing, minimum feature sets and pivoting.  Product management is very different than customer development.
Very different skills needed to execute a business model compared to those needed to search for a business model.
You fail if you stay a startup – goal is to become a large company.  Search is bringing order out of chaos, pivoting all the time.
No business plan survives first contact with the customer.
(Link: Steve Blank’s Startup Lessons Learned Keynote – It’s a “Must Watch”)