I witnessed exactly this scenario. A startup I worked for hired a head of product who worked at a large multinational company. He didn’t get the need for customer discovery and experimentation because everything at his past company had already been figured out. This is still a challenge today
Interesting concept presented in a few seconds. I spent 40 yrs swimming upstream to the origin of innovation and saw the research group lost, disconnected, misdirected and yet fantastically rich in ideas with no concept of how to have them meet the customer/market/product needs. Even if they knew the right works to communicate, the upper management could not comprehend the concepts temporally, and was frustrated spending $100M/yr and not seeing them connected. They wanted something NOW, and yet wasted the years until what the research guys were saying was brought to market by others. What you do looks like fun. Well, I know it IS fun, but likely frustrating trying to get the eager and will connected to their universe.
Hi! This video did a great job opening my eyes to what my product needs to get to that next level in a cost efficient manner. Getting customer validation doesn't need to be expensive or take a ton of hoops to jump through as long as I have my problem set and I am okay with pivoting my solution. Getting that real customer feedback from my MVP and being able to develop better positioning through the feedback I receive is something that I will now prioritize. This is free and useful information that can help take my product to the next level, I really appreciate the video and its contents!
Are you hallucinating? Throughout my exploration into the world of entrepreneurship, this question has come to the forefront of my venture. In my opinion, this video does a great job in giving entrepreneurs more prudence in their decisions. The biggest mistake entrepreneurs make, and the one I would have almost made myself in my venture had it not come up so often, is to make important product/design decisions with the customer in mind. The moment the customers we are designing for are forgotten, the whole project is put into jeopardy. That is why all of the phases in this video bring the idea back to the customer. Whether it is getting out of the building, developing positioning, or verifying the validity of your product in the market, the customers are always vital. In my own venture, I will make it a priority to remain in touch with my customers even though I am closing in on a final product. I believe that constant emphasis will lead to a product successful in the market.
I think this vid does a fantastic job at showing me how to take that extra step in validating the business ideas and visions that I've had for my venture. I think understanding whether or not your product works as well as whether or not there is a specific targetable market able to buy it at a given time is very important to know before making too many big steps and moving forward with a faulty model. Verifying all of this after the progress has been made more is something I hadn't considered but makes complete sense to me in the long run.
I learned from this video how to create value and to know if you did so you need to ask yourself whether you made a positive impact on your customers lives by your product or service. You need to look for the feedback and reviews to do that. Also if you want to attract more customers, you need to make sure that your product or service is valuable to them. You should show them how special is your product by advertising it in the right way, try using social media to create excitement, and don’t forget that you must keep listening to the feedback you get to improve your product and stay ahead of competitors.
OG, I'm sorry to break the first heuristic, but I don't realize a leaner method to attempt it, so... how does one reach out to you as a mentor? I promise I'll add value and agile insights about the web3 thingy I do
took sb 20 years to realize VCs aren't interested in building companies investors are interested in getting obscene returns in the lifetime of fund The result was --> investors left a lot of money on the table. As an example, the Carlyle Group exited Amazon too early.
I owe a lot of my new learnings from serial entrepreneur, startup founder & Stanford Business lecturer, SB., the Father of "Customer Development & Lean Startup Methodology." My first encounter with STEVE BLANK was this statement, "No business plan survives first contact with customers." - it truly makes sense to me now that ALL the teachings of business schools is the mastery of the creation of this tool which has outlived its simple purpose, i.e. the business plan. It may have worked several years in the past, but this is not true in building "unknown" businesses most especially, startup business.
Hello Steve! , thanks for the videos, they are very useful :) I wanted to ask if you can enable the automatic subtitles option, some of them don't have them. That will make it more accessible for people with disabilities, and also for those who do not understand English very well., thanks!!!!
