Why Accounats Dont Start Business

THE PennSYLVANIA State University

Department of Industrial & Manufacturing Engineering

IE466: Concurrent Engineering

Questions Hand-in at start of next class Name: Arafat Hossain

Answer the following questions while watching the 44-minute video, “Why Accountants Don’t Run Startups”.

Who is Steve Blank? How does he establish his credentials? Is it effective?

Steve Blank is a Silicon Valley entrepreneur and academician in California. Blank has worked almost thirty years in high technology industry. He has started or worked with eight startup companies. Steve Blank’s parents migrated and ran a grocery store in New York City. Steve Blank is one of the most technologically influential people today. Blank, who is recognized for developing the Customer Development methodology, launched the Lean Startup movement. He wrote about Lean Startup revolution in one of his famous books ‘The Four Steps to the Epiphany’. He is also the author of Business model generation and the inventor of the generation tool. His credentials are established by the success of his many startup companies. Though he maintains a friendly persona, his previous experience effectively shows that he knows what he’s speaking about.

What do the words entrepreneur and start-up mean in Silicon Valley? How does that compare to how the words are traditionally used elsewhere in the U.S.?

A traditional definition of entrepreneur is a person who organizes and runs a business by taking on great financial reason. Small business is startup. Serve known customers with knows products. There are different kinds of start up such as: Scalable startup, social innovation startup, buyable startup and so on. A startup is a temporary organization used to search for a repeatable and scalable business model. In Silicon Valley the word entrepreneur and Start-up mean lifestyle businesses.

What is the difference between a business plan and a business model? What is...