297: Steve Blank’s 3-Step Process to Help Businesses Cope With COVID-19

The Foundr Podcast with Nathan Chan

Nathan Chan

Marketing, Business, Entrepreneurship

4.8 • 662 Ratings

🗓️ 7 April 2020

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Steve Blank is a legend in Silicon Valley. In addition to launching eight startups in 21 years, he’s also a well-known author and educator at Stanford University, Columbia University, and the UC Berkeley Haas School of Business. Having worked in the realm of entrepreneurship for so long, Blank has survived some of the worst recessions in U.S. history and has first-hand experience of what it’s like to keep your business afloat under high-pressure circumstances—knowledge that’s directly applicable to the COVID-19 global health crisis. In this interview, Blank shares his three-step process for what every business needs to do right now to survive the pandemic. He breaks down everything from calculating your burn rate to reassessing the way you work with your team. Blank also shares his own personal experiences with the 2008 recession and dot-com bubble. If there’s any other type of content you’d like to see that would be valuable to you during this time, please don’t hesitate to reach out at [email protected] to let us know. Key Takeaways Why Blank believes today’s entrepreneurs should listen to the advice of seasoned founders The three-step process Blank recommends to understand where your business is headed, from calculating finances to reassessing business models The biggest lessons Blank learned during the 2008 recession and dot-com bubble Why Blank believes in planning for the morning after The importance of high-level execution during times like today How to think about recalibrating in terms of retaining staff and hiring The importance of setting expectations—whether in your marketing or management Why this pandemic could be an opportunity to re-evaluate how you want to spend your life

Transcript

Click on a timestamp to play from that location

0:00.0	This is episode number 297 with Steve Blank of the Founder Podcast.
0:07.1	What you need is thirst.
0:08.9	You need to be a thirsty human who is intent on learning.
0:12.9	It's a really fascinating exploration of human potential.
0:18.8	The Founder Podcast.
0:21.8	Even the greatest entrepreneurs had help.
0:24.7	If you want to learn from the most successful founders on the planet, you are in the right place.
0:30.4	Branson, Mark Cuban, Tony Robbins, Tim Ferriss, Arianna Humphington, Steve Case, Gary V, Sophia Amoroso, Barbara Corcoran, Damon John.
0:37.4	Learn from the greatest minds in business today with interviews hosted by Nathan Chan. This is not your average entrepreneur podcast. The Founder Podcast.
0:52.3	Hey guys, thank you so much for tuning in. Before we start today's episode, I just want to let you know that our goal at founder is to help entrepreneurs succeed however we can by giving away high quality content in the form of interviews, blog posts, podcasts, YouTube videos, you name it. We put out so much content to help you.
1:13.7	And another interesting project that we're working on right now is partnering with world-class
1:18.5	founders like Damon John, Alexa von Tobel, Greta Van Riel, and so many more to teach crucial skills
1:25.1	like negotiation, finance, e-commerce, and so much more.
1:30.3	So if you'd like to get access to these free trainings with founders like this, which is
1:36.2	100% free, just go to founder.com forward slash free. Okay, so now let's talk about today's
1:43.3	episode.
1:49.0	Hey guys, welcome to another founder podcast. My name's Nathan Chan,
1:53.5	C on publisher of Founder Magazine, and also the host of this show.
2:00.6	So I just wanted to say, I hope you and your family are healthy, you guys are staying safe and you're doing okay. I know this is a
2:03.4	crazy, crazy time right now. And we're doing everything that we can to help serve you at Founder.
2:09.9	We're producing so much content. We're going to put out so much stuff to really help serve
2:15.3	you through this uncertain, crazy time now i just wanted to
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Nathan Chan, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Nathan Chan and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.