Steve Blank retired in 1999 after spending 21 years in 8 different high technology companies. In high school he was not looked as the most likely to succeed. After retiring Mr. Blank wrote a book titled “Four Steps to the Epiphany” and his latest book with Bob Dorf is titled “The Startup Owners Manual”. His view is to stay true to the customer and not the market.
The business model proposal is based on 5 steps:
· What did you initially think your initial business model was? (Initial business model hypotheses)
· What did you build/do? (Built first product, talked to users, etc.)
· What did you learn outside the building? (Parts of our feature set/business model were wrong)
· Then what did you do? (iterated product, changed business model, etc.)
· Repeat steps 1-4
Carlos Slim has built a 35 billion dollar values for his various companies. He acquired Telmex in the 1990’s, which is the largest telecommunications and cell phones companies in Mexico. He has a simple style that is direct and money focused.
Mr. Slims views on business are:
· Create a simple organizational structure with minimal hierarchies; provide personal development and in-house training for executives.
· Don’t be a big fish in a small pond. Don’t invest in non-productive assets.
· Clear objectives and the right tools will lead you through all challenges.
· Reinvest profits in the company. Money that leaves the company evaporates.
· True corporate creativity can be helpful to both business and society.
· Firm and patient optimism always yields rewards.
· Know how to work hard, and use the right tools.
· Leave with nothing. We can only do things while we are alive. Businessmen are creators of the wealth that they temporarily manage.
These two views show potential entrepreneurs that they have to follow their own ideas. Be clear with your ideas and the type of product or service you want to provide. Work hard and reinvest into your own company. If you can’t invest and work hard on your idea, no one else will.
· Create a simple organizational structure with minimal hierarchies; provide personal development and in-house training for executives.
· Don’t be a big fish in a small pond. Don’t invest in non-productive assets.
· Clear objectives and the right tools will lead you through all challenges.
· Reinvest profits in the company. Money that leaves the company evaporates.
· True corporate creativity can be helpful to both business and society.
· Firm and patient optimism always yields rewards.
· Know how to work hard, and use the right tools.
· Leave with nothing. We can only do things while we are alive. Businessmen are creators of the wealth that they temporarily manage.
These two views show potential entrepreneurs that they have to follow their own ideas. Be clear with your ideas and the type of product or service you want to provide. Work hard and reinvest into your own company. If you can’t invest and work hard on your idea, no one else will.
