The document discusses the importance of customer discovery in developing products that users want. It introduces the customer development model, which involves focusing on customer discovery, customer validation, customer creation, and company building. The goal of customer discovery is to develop a minimum viable product to test hypotheses about the customer, problem, and solution. Interviews are important for gathering facts outside the company to inform these hypotheses. Premature scaling, or scaling before validating the market, is a common pitfall that can cause startups to fail. Taking the time for thorough customer discovery helps startups build the right product to meet customer needs.
8. In a sense there's just one mistake that kills
startups: not making something users want. If you
make something users want, you'll probably be
fine, whatever else you do or don't do.And if you
don't make something users want, then you're
dead, whatever else you do or don't do.
Paul Graham,
Y Combinator
http://www.paulgraham.com/startupmistakes.html
9. Most Startups FAIL not
because what they
imagine can’t build it,
but because
NO ONE WANTS
what they built.
#CMULean
10. “Launch early enough to
be embarrassed by your
product’s first version”
Reid Hoffman,
Co-Founder & Chairman
LinkedIn
Source: http://www.flickr.com/photos/joi/1431818434/sizes/l/in/photostream/#CMULean
12. C-P-S Hypothesis
Customer: I believe my best
customers are Marketers.
Problem: They have no idea
if a specific campaign is
generating a return on
investment (ROI).
Solution: Analytics that easily
demonstrate marketing ROI.
#CMULean
Example Source: The Entrepreneur's Guide to Customer Development
The objective is to
define a hypothesis
that is testable...
13. C-P-S Hypothesis v2
#CMULean
Example Source: The Entrepreneur's Guide to Customer Development
Customer: I believe my best customers are small and medium-
sized business (SMB) marketers.
Problem: Who cannot easily measure campaign ROI because
existing solutions are too expensive, complicated to deploy,
and display a dizzying array of nonactionable charts.
Solution: Low cost, easy to deploy analytics systems designed
for non-technical marketers who need actionable metrics.
14. 3 Other Key Hypothesis
1. Your business: assumptions concerning
business model, partners, relationships, and
dependencies captured in your ecosystem diagram.
2. Your product: the features requirements you
believe are necessary to complete your final MAP.
3. Your funnel: assumptions about how you will
acquire and convert your customers.
Adapted from The Entrepreneur's Guide to Customer Development
#CMULean