Sixth Stage: Customer Discovery and Product Market fit

Research of known effective materials:

Lean startup by Eric Ries

Udacity course:

How to Build a Startup, Lesson 4: Business Models and Customer Development Sections 2, 8

How to Build a Startup, Lesson 5: Value Propositions Section 1

How to Build a Startup, Lesson 6: Customer Segments Section 1

Steve Blank The tactics of Customer Discovery Login to slideshare/linkedin then download as .docx for offline use Pages 1-11


Incorporation:

Card deck 1 of 1 Overview

The relationship between value proposition and customer segments simply:
Product Market fit

Goal is connect the value proposition with what you are going to learn about customers from outside the buildling.

Work through the cycle doing iterations and pivots as we discover what customers really want vs. what we're building for them.

This is search for the business model:

Phase 1 State hypothesis Draw the business model canvas inside the building.

Phase 2 Test the problem Test your understanding of the customer problem or need.

Phase 3 Test the solution Test the customers agreement that you have the solution.

Phase 4 Verify or pivot Do customers agree that you are solving a high value problem or need? Do you understand your business model enough to start test selling?

For most entreprenuers the answer the most often the first time is NO. The only time you know you have something worth investing your time and money in is if people are literally trying to force their money on you, or can't use your product - even in it's buggy uninitialized form - enough.

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Execution: