entrepreneurship education

learning customer development

Today we wanted to share with you some thoughts on a concept Silicon Valley legend Steve Blank put into the world a couple of years ago namely: customer discovery. You see according to Steve (and we’d have to totally agree with him), there is a BIG difference between established businesses and startups:

Established businesses execute an existing business model whereas startups are in search of their working business model.

And because of this distinct difference, there is no amount of marketing or expertise that can help market and sell products or services that fundamentally are of no use to the customer or a large enough customer base. Therefore, Blank argues, we should first engage in a phase called customer discovery where we go out and talk with people and businesses about what they might need and whether they are willing to pay for it through an MVP (minimal viable product).

This is a process that no entrepreneur should underestimate because it can make or break your entire businesses. If you do this well, you’ll almost certainly find a way to create a successful business. If you want to learn more make sure you read up on Steve’s book: The Four Steps to Epiphany.

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