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Customer development
- 2. Confidential RESTRICTED Page 2 strictly CONFIDENTIAL “If I had asked people what they wanted, they would have said a faster horse” Henry Ford
- 4. Confidential RESTRICTED “People don’t want a quarter inch drill, they want a quarter inch hole.” Theodore Levitt 1962
- 6. A startup is a temporary organisation designed to search for a repeatable and scalable business model Steve Blank A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty. Eric Ries
- 9. Confidential RESTRICTED Page 9 What to search for? Customer Discovery Customer Validation Customer Creation
- 10. “People don’t know what they want until you show it to them. That’s why I never rely on market research.” Steve Jobs
- 11. maximum amount of learning least amount of effort Minimum Viable Product (MVP)
- 12. © 2014 Amadeus IT Group SA Probably much more minimum than you think !
- 13. “starting a company is like throwing yourself off a cliff and assembling an airplane on the way down.“ Reid Hoffmann founder LinkedIn
- 14. © 2014 Amadeus IT Group SA PRODUCT MARKET Lean Canvas
- 19. Confidential RESTRICTED © 2014 Amadeus IT Group SA ‘Don’t let perfect get in the way of better’
Editor's Notes
- Odeo = platform for podcasting >> Twitter The Point = business model based online collective action and fundraising, failed to get traction. pivoted and launched Groupon, which took his original idea for collection action and applied it to local deals. Two years later, the business blew past $100 million in sales. Game Neverending = Social game >> Flickr Burbn, HTML5 app that mimicked Foursquare’s concept of “checking in”, learned from competition, differentiated themselves, focus on square fotos, 2010 after 1 week of launch, no. 1 in App Store, $ 1 Bio in 2 years!
- Structure thoughts and develop ideas into business ideas, “nail” the: Top 3 problems that are worth solving Customer segments that would be willing to pay Top 3 benefits customer would derive
- Put yourself into the shoes of the customer: Job to be done? Pain points & gains? Identify benefits that customers would derive: Gain creators & pain relievers? Products/value prop?
- Test the riskiest assumption by defining: The most efficient method Early adopters to target Deliverables of the test Minimum success criterion
- Document progress of lean startup project Document customer & problem hypothesis List core assumptions & identify riskiest assumption to validate/ invalidate Pivot/Persevere