No Business Plan Survives First Contact With A Customer – The 5.2 billion dollar mistake.

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lean startup

Incredible story before the 2000 “dot.com” boom illustrating the lack of customer development.

Lesson learnt (by Steve Blank)
– Business plans are the leading cause of startup death
– No Business Plan survives first contact with a customer
– Rapidly changing markets require continuous business model iteration/customer development
– Your ability to raise money has no correlation with customer adoption

Source: http://www.businessinsider.com/no-business-plan-survives-first-contact-with-a-customer–the-52-billion-dollar-mistake-2011-1