2. WHAT IS A STARTUP?
New Venture Development, Bora Özkent
2014
2
3. Why?
Since WW2
startups have
made %50 of all
innovation and
95% of radical
innovation in US.
24 times more
innovation per R&D
dollars.
New Venture Development, Bora Özkent
2014
3
25. Startups are special creatures
• There Are No Facts Inside
Your Building, So Get
Outside
• Failure is an Integral Part
of the Search for the
Business Model
• If You’re Afraid to Fail
You’re Destined to Do So
• Validate Your Hypotheses
with Experiments
• No Business Plan
Survives First Contact
with Customers
• Startup Metrics are
Different from Existing
Companies
• Fast, Fearless Decision-
Making, Cycle Time, Speed and
Tempo
• If it’s not About Passion, You’re
Dead the Day You Opened your
Doors
• Startup Titles and Functions
Are Very Different from a
Company’s
• Preserve Cash While
Searching. After It’s Found,
Spend
• Communicate and Share
Learning
• Startups Demand Comfort with
Chaos and Uncertainty
34. Business Model vs Business Plan
Adocument investors make you write
that they don’t read
Thursday, November 4, 2010
35. Business Model vs Business Plan
Asingle diagram of your business
Thursday, November 4, 2010
36. Homework for Tomorrow
• Read Running Lean
– Part-2 Create Your Lean Canvas (Pages 23-45)
• Watch Video Again: Running Lean / Ash Maurya
https://www.youtube.com/watch?v=7o8uYdUaFR4
• Optional: Visit Ash Maurya’s You Tube Channel and Watch
an extra video and prepare
comments:https://www.youtube.com/channel/UCimRGeoiw
UPmIddym-HdaCg
• Prepare the first version of your Lean Canvas (Use
LeanStack.Com for documentation)
• Send it to me until latest 12 AM tomorrow as single slide
with your team name on it.
36
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