The following is a short excerpt from the book The Startup Owner’s Manual:
Once your Business Model Canvas is done, it’s time for your team to “get out of the building” to test your hypotheses. You need to answer three key questions:
- Do we really understand the customer’s problem or need?
- Do enough people care about the problem or need to deliver a huge business?
- And will they care enough to tell their friends, to grow our business quickly?
- Regardless of whether you have a physical or Web/mobile product, Customer Development experiments are short, simple, objective pass/fail tests.
Start by asking yourself, “What do I want to learn?” And, “What’s the simplest pass/fail test I can run to learn?” Finally, think about, “How do I design a pass/fail experiment to run this simple test?”
The goal of these tests is not just to collect customer data or get a “pass” on the test.
It’s something more profound and intangible: entrepreneurial insight. Did anyone end your sales call by saying, “Too bad you don’t sell x, because we could use a ton of those”? That’s the kind of feedback you’re looking for.
More of this kind of advice can be found in my post 20 Things Not to Do Before Starting A Business.
Amazing opportunity for only $500 in an industry that is prime for sales.
Be a part of the number one growth industry while securing your future with residual income.
The coffee vending business is your opportunity to cash in on the 30 billion dollar coffee industry.
Our one-of-a-kind training program allows you to successfully enter the lucrative world of commercial financing.
What could be better than earning up to 100% commission on the sales of exciting cruise and destination vacation packages?