Steve Blank Podcast
Summary: Steve Blank, eight-time entrepreneur and now a business school professor at Stanford, Columbia and Berkeley, shares his hard-won wisdom as he pioneers entrepreneurship as a management science, combining Customer Development, Business Model Design and Agile Development. The conclusion? Startups are simply not small versions of large companies! Startups are actually temporary organizations designed to search for a scalable and repeatable business model.
We just held our second week of the Hacking for Defense class. This week the 8 teams spoke to 106 beneficiaries (users, program mangers, etc.), we held a DOD/IC 101 workshop, our advanced lecture was on the Value Proposition Canvas, and we watched as the students ran into common customer discovery obstacles and found new ones.
Hacking for Defense is a new class in Stanford’s School Engineering, where students learn about the nation’s security challenges by working with innovators inside the Department of Defense (DoD) and Intelligence Community. The class teaches students the Lean Startup approach to entrepreneurship while they engage in what amounts to national public service.
To most founders a startup is not a job, but a calling. But startups require money upfront for product development and later to scale. Traditional lenders (banks) think that startups are too risky for a traditional bank loan
We just finished the 6th annual Lean LaunchPad class. This year we made a small but substantive addition to way we teach the class, adding a week for reflection. The results have made the class massively better.
As we prepared for the new Hacking for Defense class at Stanford, we had to stop and ask ourselves: How do we use the Business Model Canvas if the primary goal is not to earn money, but to fulfill a mission? In other words, how can we adapt the Business Model Canvas when the metrics of success for an organization is not revenue?
Introducing Hacking for Defense – Connecting Silicon Valley Innovation Culture and Mindset to the Department of Defense and the Intelligence Community Hacking for Defense is a new course at Stanford’s Engineering School in the Spring of 2016. It is being taught by Tom Byers, Steve Blank, Joe Felter and Pete Newell and is advised by former Secretary of Defense Bill Perry. Join a select cross-disciplinary class that will put you hands-on with the masters of lean innovation to help bring rapid-fire innovative solutions to address threats to our national security. Why?
This is the third in a series about the changing models of corporate innovation co-authored with Evangelos Simoudis. Evangelos and I are working on what we hope will become a book about the new model for corporate entrepreneurship.
When companies or agencies search for disruptive and innovative strategies they often assemble a panel of experts to advise them. Ironically the panel is often made up of people whose ideas about innovation were relevant in the past.
This is the fourth in a series about corporate innovation co-authored with Evangelos Simoudis. Evangelos and I are working on what we hope will become a book about the new model for corporate entrepreneurship. In our last post, we addressed the six key questions that senior management should address to determine if an Innovation Outpost makes sense for a company. If the answer is yes, here’s a step-by-step guide to help set one up.
This is the second in a series about the changing models of corporate innovation co-authored with Evangelos Simoudis. Evangelos and I are working on what we hope will become a book about the new model for corporate entrepreneurship.
I first met Evangelos Simoudis when he ran IBM’s Business Intelligence Solutions Division and then as CEO of his first startup Customer Analytics. Evangelos has spent the last 15 years as a Venture Capitalist, first at Apax Partners and later at Trident Capital. During the last three years he’s worked with over 100 companies, many of which established Innovation Outposts in Silicon Valley. He’s now helping companies get the most out of their relationships with Silicon Valley.
In a recent workshop with a large company focused on the Innovation@50x process, I mentioned that founders and intraprenuers operate more like artists than accountants – on day one they see something no one else does. One of the innovators in the room said, “It sounds like you’re describing exactly what Ed Catmull the CEO of Pixar wrote in Creativity, Inc.”
I’ve spent this year working with corporations and government agencies that are adopting and adapting Lean Methodologies. One of the interesting innovation challenges I’ve encountered centers on a company’s culture. While startups have the luxury of building values and culture from scratch, existing companies that want to (re)start corporate innovation must reboot an existing –and at times deeply rooted- corporate culture. It’s not an easy task, but failing to change the culture will doom any innovation efforts the company attempts.
I’ve spent this year working with corporations and government agencies that are adopting and adapting Lean Methodologies. The biggest surprise for me was getting schooled on how extremely difficult it is to be an innovator inside a company of executors.
Todd Dunn is the Director of Innovation and runs the Intermountain Healthcare Transformation Lab, which is working to foster innovation in the healthcare industry. Todd DunnHe’s now run several Lean LaunchPad classes and has seen a ton of healthcare startups. Here’s his advice for startups in this space.