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The Four New Venture “Developments”

Each successful new venture has four concurrent development activities that they are involved in:

The Four Developments

Most entrepreneurs start with the product development activity and ignore the other three.  Steve Blank and the Lean Startup movement argue strongly for starting with customer development. Linda Holliday at Citia suggests that you have to go beyond customer development and create an audience well before you can start creating customers.  The crowd funding movement made popular by Kickstarter goes even farther and provides a vehicle for entrepreneurs to co-create the product with their audience.

The product and customer development activities are what is visible to the external world – above sea level if you will.  The other two levels are invisible to the external world and yet just as important as the audience and customer development – talent and investor development. A smart entrepreneur is always developing the talent in the organization as fast as they can handle it. Investor development is often left to the last moment or worse, started way too early. Investor development is the most obvious example of strategic networking for the entrepreneur – you have to invest in the potential relationships long before you have a company or a product.

So where are you in your process of developing all four resources?

For more information attend the SEER seminar.  Or check out our other content at Flipped Startup.

Register for the SEER Seminar

David on stage at The Hub

David on stage at The Hub

On June 8, 2013 we will hold THE SEER: Launch Your Dream Seminar at the HUB in Seattle from 8:00 am to 6:00 pm.  Prior to the event you will receive the first three chapters which describe the first three recognitions of the entrepreneur.

Join David Robinson and Skip Walter for a one day The SEER: Launch Your Dream seminar at The Hub in Seattle, WA on Saturday, June 8, 2013. 

Code Mocking? How about business plan mocking?

After 40 years of participating in software code reviews, I couldn’t stop laughing when I encountered a recent Scott Adams‘ Dilbert cartoon:

code mocking

Many is the code review meeting that I wished I could stand up and start mocking the fruits of a software engineer’s labor.  Forgetting that some times the code could strike back.

After wading through 100 applications for an upcoming new venture investors’ conference, I wanted to send an email invite to my colleagues to set up a parallel meeting for business plan mocking. We should set up an award for the clueless that sends them to a workshop on Running Lean or at a minimum remedial hockey stick revenue plan generation.  Maybe a dose of business plan BS would help as well:

bs generator

May the mocking be with you?