Business plans are the tool existing companies use for execution. They are the wrong tool to search for a business model.
Steve BlankRead
Greatest risk is not development of new product, but development of customers and markets
Interpretation
What this quote means
The greatest challenge lies not in creating new products, but in building a customer base and identifying markets for them.
Steve Blank emphasizes that while innovation and product development are crucial, the true risk and challenge for businesses stem from understanding and engaging with customers and the markets they operate in. A successful product launch depends largely on market fit and customer relationships rather than the technical aspects of the product itself.
Themes
CustomersMarketsProduct DevelopmentBusiness StrategyRisk
In practice
Example use cases
This quote can be used during a business strategy meeting to highlight the importance of customer engagement.
More from Steve Blank
All quotes →Unless you have tested the assumptions in your business model first, outside the building, your business plan is just creative writing.
Steve BlankRead
People talk about getting lucky breaks in their careers. I’m living proof that the “lucky breaks” theory is simply wrong. You get to make your own luck... The world is run by those who show up…not those who wait to be asked.
Steve BlankRead
You need to ask yourself, ‘Where do you want to work: startups, mid-size or large companies?’ If you find yourself debating the ‘startup versus large company’ choice you’ve already chosen the big company. Entrepreneurship isn’t a career choice it’s a passion and obsession.
Steve BlankRead
We now know that something between 85 and 90 percent of most software product features are unwanted and unneeded by customers. That is an enourmous ammount of waste of time and money that ends up on the floor.
Steve BlankRead
Build and they will come’ is not a strategy, it’s a prayer.
Steve BlankRead
Similar quotes
I was never, ever interested in becoming a businessman or an entrepreneur. If I was a businessman, or saw myself as a businessman, I would have never gone into the airline business.
Richard BransonRead
A company shouldn't get addicted to being shiny, because shiny doesn't last.
Jeff BezosRead
Explore this next great frontier where the boundaries between work and higher purpose are merging into one, where doing good really is good for business.
Richard BransonRead
You know, if you make a customer unhappy they won't tell five friends, they'll tell 5,000 friends. So, we are at a point now where we have all of the things we need to build an important and lasting company, and if we don't, it will be shame on us.
Jeff BezosRead
We believe that business is good because it creates value. It is ethical because it is based on voluntary exchange; it is noble because it can elevate our existence, and it is heroic because it lifts people out of poverty and creates prosperity.
John MackeyRead
The idea that you can create a template that will work forever doesn't happen in any business. There's some really, really bright people in this business. You can't do the same thing the same way and be successful for a long period of time.
Billy BeaneRead