Take-aways from a talk in the Trust Center on 6/27/16
- “Get out of the office...and into the world” – steve blank’s customer development process
- Step 1+2 - The search phase:
- Step 1: Customers discovery - building a hypothesis around who are your customers and what are their needs.
- Step 2: Customer validation -
- Testing the hypothesis by talking with the customers.
- Testing the solution to validate the market needs: product- market fit is the key to success
- Pivot and iterate when necessary
When talking with customers: look for insights not just answers. Then change the canvas based on the new learnings.
- Step 3+4 - The execution phase:
- Step 3: Customer creation
- Step 4: Company building
- Don’t rush to the execution phase before you’re done with the search phase.
- The search phase is not something you can outsource. You got to talk with the customers directly (unlike with large companies where they rely on sales/ marketing to contribute customers insights)
2. Build measure Lean loop – Eric Ries’s lean startup
Hypothesis → experiment → test → measure results → insights/ learnings
- MVP- minimal viable product
- Build the minimal features to get feedback.
- What should we be building and in what order?
- What makes your customers lives different before and after they were introduced to your product?
- Failure is OK! Failure without learning is not OK…
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