Steve Blank on New Markets

I have been thoroughly enjoying Steve Blank’s How to Build a Startup  – The Lean LaunchPad Course on Udacity. One of the segments I was watching today was a talk on New Markets (one of the Market Types).

Here are a few points from the video.

New markets is a market where customers don’t exist today according to Steve. Here are some characteristics of a New Market:

  1. Customers do not exist today
  2. Even if they do, your challenge is to let them know that you exist
  3. Market Size is zero
  4. The Chasm from visionaries to pragmatists is very big
  5. If a startup executes as if they are in an existing market (premature spending), they are likely to be killed
  6. No individual startup can accelerate technology diffusion
  7. You are likely to be in the valley of death for a long time (may be forever) trying to get out

The rest of the market types – Existing Market, Resegmented Market, Clone Market have a little less risk.

Here is a link to the resources. This course is a must, if you are a startup.

Advertisements

2 thoughts on “Steve Blank on New Markets

  1. Dorai, your sharing of Steve Blank’s work on Market Types has been very valuable to us. The post on Customer Development (three posts ago) came just in time for our pitch to the Nasscom Product LaunchPad. Very valuable. Thanks again for sharing.

  2. Glad to hear that. That launchpad course is really good. In his book “The Startup Owner’s Manual” he has a section on Web development for startups with several resources.

    I think we should take nuggets of these courses and discuss them in our startup communities. I am going to propose that for Chennai OCC.

Please Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s