Steve Blank: What we know now

In some way, every company is a startup at some point. However, a startup is not necessarily a newly founded company.

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Often, a startup is automatically associated with a software company in Silicon Valley. Anyone who has an idea and shares it with others to put it into practice and ask for advice usually gets the same, probably outdated, advice: write a business plan and develop a strategy and found the company based on said plan. A very detailed business plan will take into account all contingencies. Therefore, you will know everything to build and run your company.

The reality, and especially the one of startups, is completely different. In the beginning, a business plan only needs to take into account the costs incurred to develop a product in the first place and to make it ready for the market. At a certain point (good timing is important), you deal with the next phase. First and foremost, you need to build a prototype and a pre-production model.

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This article is written by our CEO, Bernd Korz. With his experience as an entrepreneur, he shares his vision about the lessons provided by Steve Blank. Join us every week for a new article on Steve Blank’s lectures.


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