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More “New Terms in Startup Marketing”

June 10, 2011

As a follow up to last week’s post, we thought we’d share 4 more new terms shaping startup marketing…

Gang of Four according to Google Chairman Eric Schmidt and other Silicon Valley leaders at the D9 Conference last week, there are now four giants who are the platform players (others creating value on top of them) dominating the tech landscape:  Apple, Google, Amazon and Facebook.  Combined value of the gang of four:  half a trillion dollars.

Napkin entrepreneur according to Steve Blank, serial entrepreneur, Stanford professor and Silicon Valley personality, the low cost of developing and funding an Internet app company is today’s equivalent of sketching a new product on the back of napkin.  Instead of having just a piece of paper that explains your idea, entrepreneurs can end up with a website, an app and maybe even users willing to pay for your product.

Lean startup the idea is to get to market as quickly as possible with the “minimum viable product” and plan to iterate as often as is necessary to get traction and growth in customer acquisition numbers.  This model was created and advocated by author, startup advisor, former entrepreneur and venture capitalist Eric Ries.  You can read his blog called Startuplessons or read his book coming this fall.

Pivot – when a lean startup gets stuck and its business model or other fundamental guiding concept needs to evolve, it’s time to make a significant change.  That’s a pivot.  According to The Startup Genome project, released at TechCrunch New York at the end of May, successful startups pivot more often than unsuccessful ones.  Indeed, Startups that pivot once or twice times raise 2.5x more money, have 3.6x better user growth, and are 52% less likely to scale prematurely than startups that pivot more than 2 times or not at all.

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