The document contrasts the differences between startups and small businesses, and between the roles of founders and later-stage management. It discusses how startups focus on searching for a scalable business model through customer development and hypothesis testing, rather than on accounting or execution. As companies transition from startups to established businesses, founders typically leave to be replaced by professional managers, and the focus shifts from searching to executing the found business model.
Summary of the strategy of building low-burn-rate startups, i.e. capital efficient and generally frugal. By taking advantage of open source, agile software, and iterative development, lean startups can operate with much less waste.
Summary of the strategy of building low-burn-rate startups, i.e. capital efficient and generally frugal. By taking advantage of open source, agile software, and iterative development, lean startups can operate with much less waste.
Lean Startup Basics - Evidence Based EntrepreneurshipKelly Schwedland
Introduction and overview to the lean process for startups. An evidence based approach to validate early hypothesis and develop a solid Business Model before launch. Involving Customer Development, Hypothesis testing, Minimum Viable Product, (MVP) to get to Product/ Market fit and ultimately A replicable scalable business model. This simple but disciplined approach takes the guess work out of taking an idea and turning it into a viable company.
Based on Eric Reis, Steve Blank and Alex Osterwald's work with Lean Startup, Lean launchpad, customer development and Business Model Canvas. Now in practice by multiple Incubators, Accelerators, Universities and now the National Science Foundation through ICorp to validate business ideas with before investing.
Lean Software Startup: Customer Development (lecture)Joni Salminen
Lecture at the University of Turku
Topic: Customer development - an introduction
20th January, 2016
Customer development is a form of market research for startups.
What is Product/Market Fit? Why is it the Holy Grail of entrepreneurship?
Let me help you answer and understand the fundamental question for every early stage entrepreneur: Are you building a product/service people really want? Watch the video and learn everything about Product/Market Fit.
Twitter: https://twitter.com/m_vukas
Blog: http://www.milanvukas.com/blog/
Product market fit is achieved by finding the successful intersection of product iteration, competition/market and go-to-market strategy. Finding product market fit (PMF), however, is hard when these three factors confound problem solving in the search for PMF.
Fortunately, competition tends to be roughly constant over the period in which a startup is solving for PMF. To control between product iteration and GTM, go-to-market can be broken into five sub-steps in any of which product changes are small enough not to confound. This allows GTM tactics and strategy to be tested and proven or disproven.
The five steps are first sale, founder sales, first sales person, sales leadership, scaling sales - each a distinct stage that can be tested and measured. There are metrics abound to measure sales performance, but many - including funnel conversion metrics, LTV and CAC - are fuzzy and imprecise in the early stages of a startup. What matters is whether a software business is adding adequate net new revenue per cash burned as measured by monthly increase in MRR per monthly net cash burned. Cash efficiency should go up at each successive go-to-market step.
Jerry Chen, partner at Greylock and former VP of Cloud and Application Services at VMware, shares his Unit of Value framework for startups building a go-to-market strategy. He developed this strategy while managing product and marketing teams at VMware that shipped many “1.0” releases, including VMware VDI, Cloud Foundry, and vFabric, and continues to use the framework to evaluate companies as an investor.
mission model, mission model canvas, customer development, Hacking for Defense, lean startup, stanford, startup, steve blank, Pete Newell, Joe Felter, minimum viable product
Lean Startup Basics - Evidence Based EntrepreneurshipKelly Schwedland
Introduction and overview to the lean process for startups. An evidence based approach to validate early hypothesis and develop a solid Business Model before launch. Involving Customer Development, Hypothesis testing, Minimum Viable Product, (MVP) to get to Product/ Market fit and ultimately A replicable scalable business model. This simple but disciplined approach takes the guess work out of taking an idea and turning it into a viable company.
Based on Eric Reis, Steve Blank and Alex Osterwald's work with Lean Startup, Lean launchpad, customer development and Business Model Canvas. Now in practice by multiple Incubators, Accelerators, Universities and now the National Science Foundation through ICorp to validate business ideas with before investing.
Lean Software Startup: Customer Development (lecture)Joni Salminen
Lecture at the University of Turku
Topic: Customer development - an introduction
20th January, 2016
Customer development is a form of market research for startups.
What is Product/Market Fit? Why is it the Holy Grail of entrepreneurship?
Let me help you answer and understand the fundamental question for every early stage entrepreneur: Are you building a product/service people really want? Watch the video and learn everything about Product/Market Fit.
Twitter: https://twitter.com/m_vukas
Blog: http://www.milanvukas.com/blog/
Product market fit is achieved by finding the successful intersection of product iteration, competition/market and go-to-market strategy. Finding product market fit (PMF), however, is hard when these three factors confound problem solving in the search for PMF.
Fortunately, competition tends to be roughly constant over the period in which a startup is solving for PMF. To control between product iteration and GTM, go-to-market can be broken into five sub-steps in any of which product changes are small enough not to confound. This allows GTM tactics and strategy to be tested and proven or disproven.
The five steps are first sale, founder sales, first sales person, sales leadership, scaling sales - each a distinct stage that can be tested and measured. There are metrics abound to measure sales performance, but many - including funnel conversion metrics, LTV and CAC - are fuzzy and imprecise in the early stages of a startup. What matters is whether a software business is adding adequate net new revenue per cash burned as measured by monthly increase in MRR per monthly net cash burned. Cash efficiency should go up at each successive go-to-market step.
Jerry Chen, partner at Greylock and former VP of Cloud and Application Services at VMware, shares his Unit of Value framework for startups building a go-to-market strategy. He developed this strategy while managing product and marketing teams at VMware that shipped many “1.0” releases, including VMware VDI, Cloud Foundry, and vFabric, and continues to use the framework to evaluate companies as an investor.
mission model, mission model canvas, customer development, Hacking for Defense, lean startup, stanford, startup, steve blank, Pete Newell, Joe Felter, minimum viable product
mission model, mission model canvas, customer development, Hacking for Defense, lean startup, stanford, startup, steve blank, Pete Newell, Joe Felter, minimum viable product
mission model, mission model canvas, customer development, Hacking for Defense, lean startup, stanford, startup, steve blank, Pete Newell, Joe Felter, minimum viable product
mission model, mission model canvas, customer development, Hacking for Defense, lean startup, stanford, startup, steve blank, Pete Newell, Joe Felter, minimum viable product
mission model, mission model canvas, customer development, Hacking for Defense, lean startup, stanford, startup, steve blank, Pete Newell, Joe Felter, minimum viable product
mission model, mission model canvas, customer development, Hacking for Defense, lean startup, stanford, startup, steve blank, Pete Newell, Joe Felter, minimum viable product
Venture Design Workshop: Business Model CanvasAlex Cowan
These slides support the various workshops I do and my online curriculum in two principal places:
1. Business Model Canvas Tutorial
This is a more fully articulated instructional, complete with templates: bit.ly/nicebmc.
2. Startup Sprints
This is a structured self-service for Venture Design/new venture creation: bit.ly/startupsprints.
From the Ground Up: Building a Scalable Money Management BusinessesTearsheet
Zack Miller of NewRulesofInvesting.com was joined by Cale Smith of Islamorada Management to discuss an emerging model for asset managers.
Smith's model, the Spoke Fund, enables professionals to get off the ground quicker and cheaper than other alternative structures and seems to best align incentives of the manager and his clients.
Changes in Venture Capital & Building 500 Startups (Sao Paulo, Sept 2013)Dave McClure
slides from my talk at Brazil Innovators startup conference in Sao Paulo (Sept 2013) on changes in the venture capital industry, and how we built 500 Startups.
Team Networks - 2022 Technology, Innovation & Great Power CompetitionStanford University
Technology Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, networks
Team LiOn Batteries - 2022 Technology, Innovation & Great Power CompetitionStanford University
Technology Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, LiOn Batteries
Team Quantum - 2022 Technology, Innovation & Great Power CompetitionStanford University
Technology Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, Quantum
Team Disinformation - 2022 Technology, Innovation & Great Power CompetitionStanford University
Technology Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, Disinformation
Team Wargames - 2022 Technology, Innovation & Great Power CompetitionStanford University
Technology Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, Wargames
Team Acquistion - 2022 Technology, Innovation & Great Power Competition Stanford University
Technology Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, Acquistion
Team Climate Change - 2022 Technology, Innovation & Great Power Competition Stanford University
Technology Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, climate
Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...Stanford University
Technology, Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, unmanned, autonomy, Army venture capital
Team Army venture capital - 2021 Technology, Innovation & Great Power Competi...Stanford University
Technology, Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve Blank, Army Venture capital
Team Catena - 2021 Technology, Innovation & Great Power CompetitionStanford University
Technology, Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, unmanned, autonomy, economic coercion,
Team Apollo - 2021 Technology, Innovation & Great Power CompetitionStanford University
Technology, Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, unmanned, autonomy, space force
Team Drone - 2021 Technology, Innovation & Great Power CompetitionStanford University
Technology, Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, unmanned, autonomy, c3i, command and control
Team Short Circuit - 2021 Technology, Innovation & Great Power CompetitionStanford University
Technology, Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, unmanned, autonomy, semiconductors
Team Aurora - 2021 Technology, Innovation & Great Power CompetitionStanford University
Technology, Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, unmanned, autonomy, Army venture capital
Team Conflicted Capital Team - 2021 Technology, Innovation & Great Power Comp...Stanford University
Technology, Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, unmanned, autonomy, venture capital
Lecture 8 - Technology, Innovation and Great Power Competition - CyberStanford University
Technology, Innovation and Great Power Competition,TIGPC, Gordian knot Center, DIME-FIL, department of defense, dod, hacking for defense, intlpol 340, joe felter, ms&e296, raj shah, stanford, Steve blank, AI, ML, AI/ML, china, unmanned, autonomy, Michael Sulmeyer, cybercom,USCYBERCOM
Best Crypto Marketing Ideas to Lead Your Project to SuccessIntelisync
In this comprehensive slideshow presentation, we delve into the intricacies of crypto marketing, offering invaluable insights and strategies to propel your project to success in the dynamic cryptocurrency landscape. From understanding market trends to building a robust brand identity, engaging with influencers, and analyzing performance metrics, we cover all aspects essential for effective marketing in the crypto space.
Also Intelisync, our cutting-edge service designed to streamline and optimize your marketing efforts, leveraging data-driven insights and innovative strategies to drive growth and visibility for your project.
With a data-driven approach, transparent communication, and a commitment to excellence, InteliSync is your trusted partner for driving meaningful impact in the fast-paced world of Web3. Contact us today to learn more and embark on a journey to crypto marketing mastery!
Ready to elevate your Web3 project to new heights? Contact InteliSync now and unleash the full potential of your crypto venture!
Explore Sarasota Collection's exquisite and long-lasting dining table sets and chairs in Sarasota. Elevate your dining experience with our high-quality collection!
When listening about building new Ventures, Marketplaces ideas are something very frequent. On this session we will discuss reasons why you should stay away from it :P , by sharing real stories and misconceptions around them. If you still insist to go for it however, you will at least get an idea of the important and critical strategies to optimize for success like Product, Business Development & Marketing, Operations :)
Reflect Festival Limassol May 2024.
Michael Economou is an Entrepreneur, with Business & Technology foundations and a passion for Innovation. He is working with his team to launch a new venture – Exyde, an AI powered booking platform for Activities & Experiences, aspiring to revolutionize the way we travel and experience the world. Michael has extensive entrepreneurial experience as the co-founder of Ideas2life, AtYourService as well as Foody, an online delivery platform and one of the most prominent ventures in Cyprus’ digital landscape, acquired by Delivery Hero group in 2019. This journey & experience marks a vast expertise in building and scaling marketplaces, enhancing everyday life through technology and making meaningful impact on local communities, which is what Michael and his team are pursuing doing once more with Exyde www.goExyde.com
Salma Karina Hayat is Conscious Digital Transformation Leader at Kudos | Empowering SMEs via CRM & Digital Automation | Award-Winning Entrepreneur & Philanthropist | Education & Homelessness Advocate
What You're Going to Learn
- How These 4 Leaks Force You To Work Longer And Harder in order to grow your income… improve just one of these and the impact could be life changing.
- How to SHUT DOWN the revolving door of Income Stagnation… you know, where new sales come into your magazine while at the same time existing sponsors exit.
- How to transform your magazine business by fixing the 4 “DON’Ts”...
#1 LEADS Don’t Book
#2 PROSPECTS Don’t Show
#3 PROSPECTS Don’t Buy
#4 CLIENTS Don’t Stay
- How to identify which leak to fix first so you get the biggest bang for your income.
- Get actionable strategies you can use right away to improve your bookings, sales and retention.
Textile Chemical Brochure - Tradeasia (1).pdfjeffmilton96
Explore Tradeasia’s brochure for eco-friendly textile chemicals. Enhance your textile production with high-quality, sustainable solutions for superior fabric quality.
How to Build a Diversified Investment Portfolio.pdfTrims Creators
Building a diversified investment portfolio is a fundamental strategy to manage risk and optimize returns. For both novice and experienced investors, diversification offers a pathway to a more stable and resilient financial future. Here’s an in-depth guide on how to create and maintain a well-diversified investment portfolio.
How to Build a Diversified Investment Portfolio.pdf
Why accountants don’t run startups sllc
1. Why Accountants Don’t Run Startups
Steve Blank
Stanford - School of Engineering
U.C. Berkeley - Haas School Of Business
www.steveblank.com
Twitter: sgblank
2. I Drew This
Customer Customer Customer Company
Discovery Validation Creation Building
Pivot
3. I Called It:
Customer Development
Customer Customer Customer Company
Discovery Validation Creation Building
Pivot
11. The Silicon Valley
Funding Pyramid
Angels &
TechStars Incubators Y-Combinator
($0-10M)
Floodgate Seed Funds SoftTech (Clavier)
($10-50M)
SV Angel (Conway) Felicis (Senkut)
First Round Capital Small VC Funds Union Square Ventures
($50-250M)
Sequoia Benchmark
Traditional VC Funds
(>$250M)
Source: Dave McClure 500hats.com
12. Innovation in Financing
Angels &
Incubators
($0-10M)
Innovation is
Seed Funds happening here
($10-50M)
Small VC Funds
($50-250M)
Traditional VC Funds
(>$250M)
Source: Dave McClure 500hats.com
13. New Trends In Silicon Valley
• Internet startups - $500K is the new $5M
– Driven by the top of the pyramid
• Seed Funds providing entrepreneurial education*
– Ycombinator, TechStars, SeedCamp, LaunchBox, etc
• Customer Development/Lean Startup adoption
– Methodology to test hypothesis and business model
*~100 startup accelerator programs: http://blog.shedd.us/321987608/
16. Small Business Startups
!"#$$%
!"#$"%&'
&'()*+((%
- Business Model found
- Profitable business
- Existing team
< $10M in revenue
17. Small Business Startups
!"#$$%
!"#$"%&'
&'()*+((%
- Business Model found
- Profitable business
- Existing team
< $10M in revenue
• 5.7 million small businesses in the U.S. <500 employees
• 99.7% of all companies
• ~ 50% of total U.S. workers http://www.sba.gov/advo/stats/sbfaq.pdf
18. Small Business Startup:
Internet Edition
!"#$$%
!"#$"%&'
&'()*+((%
- Business Model found
- Profitable business
- Existing team
< $10M in revenue
• The Internet allows a new class of Small Businesses
• Not all businesses on the Internet are “Scalable Startups”
20. Scalable Startup
!(#)#*)+' ,#-.+%
!"#$"%&' /0"1#*2%
,-.//012+#$'
- Total Available Market > $500m
- Company can grow to $100m/year
- Business model found
- Focused on execution and process
21. Scalable Startup
!(#)#*)+' ,#-.+%
!"#$"%&' /0"1#*2%
,-.//012+#$'
- Total Available Market > $500m
- Company can grow to $100m/year
- Business model found
- Focused on execution and process
- Typically requires “risk capital”
• In contrast a scalable startup is designed to grow big
• Typically needs risk capital
• What Silicon Valley means when they say “Startup”
22. Very Different Startup Goals
!"#$$%
!"#$"%&'
&'()*+((%
- Business Model found
- Profitable business
- Existing team
< $10M
!(#)#*)+' ,#-.+%
!"#$"%&' /0"1#*2%
- Total Available Market > $500m
- Company can grow to $100m/year
- Business model found
- Focused on execution and process
- Typically requires “risk capital”
23. Silicon Valley Venture Firms Invest
in Scalable Startups
!"#$"%&' !"#$$%&'()*+((%
!(#)#*)+' ,#-.+%
!"#$"%&' /0"1#*2%
24. What VC’s Don’t Tell You:
The Transition
!(#)#*)+' 3#$4+'
3-#*()40*%
!"#$"%&' 567R'
Search Build Grow
25. What VC’s Don’t Tell You:
The Transition – Founders Leave
!(#)#*)+' 3#$4+'
3-#*()40*%
!"#$"%&' 567R'
- Founders depart
- Professional Mgmt
- Process
- Beginning of scale
26. What’s A Startup?
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
- Business Model found
- i.e. Product/Market fit
- Repeatable sales model
- Managers hired
A Startup is the organization used to search for
a scalable business model
30. The Search for a Business Model
• A Business Plan is static
• A Business Model diagrams how a company
creates, delivers and captures value – it’s
dynamic
• Or in English: How a company makes money
33. Startups Search and Pivot
The Search for the Business Model
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
- Business Model found
- i.e. Product/Market fit
- Repeatable sales model
- Managers hired
34. Startups Search, Companies Execute
The Search for the Business Model The Execution of the Business Model
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
- Business Model found - Cash-flow breakeven
- Product/Market fit
- Repeatable sales model - Profitable
- Managers hired - Rapid scale
- New Senior Mgmt
~ 150 people
35. Metrics Versus Accounting
The Execution of the Business Model
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
Traditional Accounting
- Balance Sheet
- Cash Flow Statement
- Income Statement
36. Metrics Versus Accounting
The Search for the Business Model The Execution of the Business Model
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
Startup Metrics
- Customer Acquisition Cost Traditional Accounting
- Balance Sheet
- Viral coefficient - Cash Flow Statement
- Customer Lifetime Value - Income Statement
- Average Selling Price/Order Size
- Monthly burn rate
- etc.
37. Customer Validation Versus Sales
The Execution of the Business Model
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
Sales
- Sales Organization
- Scalable
- Price List/Data Sheets
- Revenue Plan
38. Customer Validation Versus Sales
The Search for the Business Model The Execution of the Business Model
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
Customer Validation
- Early Adopters Sales
- Sales Organization
- Pricing/Feature unstable - Scalable
- Not yet repeatable - Price List/Data Sheets
- “One-off’s” - Revenue Plan
39. Customer Development Versus
Product Management
The Execution of the Business Model
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
Product Management
- Delivers MRD’s
- Feature Spec’s
- Competitive Analysis
40. Customer Development Versus
Product Management
The Search for the Business Model The Execution of the Business Model
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
Product Management
Customer Development - Delivers MRD’s
- Hypothesis Testing - Feature Spec’s
- Minimum Feature Set - Competitive Analysis
- Pivots
41. Engineering Versus
Agile Development
The Execution of the Business Model
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
Engineering
- Requirements Docs.
- Waterfall Development
- QA
- Tech Pubs
42. Engineering Versus
Agile Development
The Search for the Business Model The Execution of the Business Model
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
Engineering
Agile Development - Requirements Docs.
- Continuous Deployment - Waterfall Development
- Continuous Learning - QA
- Tech Pubs
- Self Organizing Teams
- Minimum Feature Set
- Pivots
43. How Do Startups Search For A
Business Model?
• The Search is called Customer Development
• The Implementation is called Agile Development
44. The Lean Startup
• The Search is called Customer Development
• The Implementation is called Agile Development
45. Startups Don’t Last Forever
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
- Business Model found - Cash-flow breakeven
- Product/Market fit - Profitable
- Repeatable sales model - Rapid scale
- Managers hired - New Senior Mgmt
~ 150 people
You fail if you remain a startup!
52. Inventor of the Modern Corporation
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
53. Inventor of the Modern Corporation
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
Alfred P. Sloan
54. Alfred P. Sloan
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
General Motors, President/Chairman
- Cost Accounting
- MIT Sloan School
- Sloan Foundation
- etc.
56. Founder of General Motors
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
Billy Durant
57. Billy Durant
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
- Leader in horse-drawn buggy’s
- Fired by board, starts Chevrolet
- Regains control of GM
- Fired by board, GM ~$3.6 billion*
* GM Net sales in 1921 $304.5M = $3.6 Billion today
64. Business School Versus
Entrepreneurship School
Business School
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
- Execution
- Strategy
- Accounting
- Products
- Engineering
- Management
- Administrative
65. Business School Versus
Entrepreneurship School
Business School
Entrepreneurship School
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
- Hypothesis testing
- Execution
- Business Model testing - Accounting
- Customer Development - Products
- Agile Development - Engineering
- Metrics - Management
- Administrative
- Venture Finance
- Hands-on
66. Business School Courses Versus
Entrepreneurship Courses
Business School
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
Courses
- Managerial Finance/Accounting
- Managing Groups and Teams
- Financial Accounting
- Operations
- Modeling for Optimization
- Global Value Chain Strategies
67. Business School Versus
Entrepreneurship Courses
Business School
Entrepreneurship School
!(#)#*)+' 3#$4+'
9$#8:;<68'
!"#$"%&' 567R'
Courses
- Entrepreneurial Management Courses
- Creativity and Innovation - Managerial Finance/Accounting
- Managing Groups and Teams
- Technology Entrepreneurship - Financial Accounting
- Patent Law for Entrepreneurs - Operations
- Global Entrepreneurial Marketing- Modeling for Optimization
- Entrepreneurial Finance - Global Value Chain Strategies
68. E-School Will Emerge
• Entrepreneurial Education will change radically
• E-School Students are not B-School Students
• Y-Combinator/Techstars first inkling
• Today ~100 startup accelerator programs
*~100 startup accelerator programs: http://blog.shedd.us/321987608/
69. E-School – Let’s Help Build It
• Startup Accelerators - great coaching/networking
but minimal methodology
• Lean/Customer Development - great methodology
but no education
• Need to be connected to Engineering School
• Stanford, Harvard and others get it…but…
*~100 startup accelerator programs: http://blog.shedd.us/321987608/