I did a fireside chat with a few entrepreneurs interested in Customer Development at Draper Fisher Jurvetson, the venture firm behind such Skype, Baidu, Overture, ….
Ravi Belani was nice enough to set it up, blog about the talk and film it. The relevant part starts about 4:30 into the video (wait for it to download.)
Lessons Learned
- Most entrepreneurs start a company with hypothesis not facts
- None of these hypothesis can be tested in the building
- Therefore – Get out of the building
- “Market Types” matter
- Find a market for the product as specified
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Filed under: Customer Development, Market Types, Technology | Tagged: Customer Development, Customer Discovery, Customer Validation, Early Stage Startup, Entrepreneurs, Steve Blank, Tips for Startups |
[…] luck… and as one of Steve Blank’s posts today mentioned, you can’t test hypotheses from within your building. Get out […]
This was really fabulous to watch. Excellent. How do I get in the room next time?
Hi Steve, I have been thinking about an earlier comment of yours that `entrepreneurship is an art not a science’. It makes a lot of sense and I thought I will share my perspective on it (the same as yours but in different words). I think customer feedback comes in a very unstructured manner, hence it is difficult to apply an algorithm on it. This is where it becomes an art as it requires skill (entrepreneurial?) to make sense of the unstructured feedback received from customers.
Hi Steve, Ravi Belani’s site looks to no longer exist; do you happen to have a fresh link to this post’s video? Thanks!