Dude, where is my Customer???
Picture: http://www.news.com.au/travel/holiday-ideas/inside-china8217s-ghost-cities/story-e6frfqd9-1226716277487 Tathagat Varma VP, Strategic Process Innovations, 7 Innovation Labs
“So what is it that
makes some startups successful and leaves others selling off their furniture? Simply this: startups that survive the first few tough years do not follow the traditional product-centric launch model espoused by product managers or the venture capital community. Through trial and error, hiring and firing, successful startups all invent a parallel process to Product Development. In particular, the winners invent and live by a process of customer learning and discovery. I call this process "Customer Development,” a sibling to "Product Development” and each and every startup that succeeds recapitulates it, knowingly or
Recap • Don’t build something
no one wants! Discover customers first Validate your assumptions • Search for the business model • Build, measure and learn iteratively Build products iteratively Scale-up for execution • Aggressively execute business plan and optimize
“I never perfected an invention
that I did not think about in terms of the service it might give others... I find out what the world needs, then I proceed to invent....”- Thomas Edison