Practical customer development
Ep 1 – Getting From Business Idea to Business Model
Ep 1 – Getting From Business Idea to Business Model
- A great business idea needs a great business model !Many ideas fail to turn in a successful Business
- Many reasons for failing amongst which :
- Customers don’t care about the problem your idea solves
- Customers do like your Value Proposition but the Business model is not scalable & financially sustainable,
- You haven’t identified reliable channels to reach & acquire customers,
- You don’t have the Infrastructure you need when your business begin to grow,
- etc
- Find the right Business Model with Business Model canvas and go & test it in the real world!
Ep 1 – Getting From Business Idea to Business Model
Ep 1 – Getting From Business Idea to Business Model
- A great business idea needs a great business model !Many ideas fail to turn in a successful Business
- Many reasons for failing amongst which :
- Customers don’t care about the problem your idea solves
- Customers do like your Value Proposition but the Business model is not scalable & financially sustainable,
- You haven’t identified reliable channels to reach & acquire customers,
- You don’t have the Infrastructure you need when your business begin to grow,
- etc
- Find the right Business Model with Business Model canvas and go & test it in the real world!
Sizing the Opportunity & Market Type
- Key concepts about « Customer discovery / Getting out of the building »
- You only have a serie of untested hypothesis / guesses
- Who the customers are
- What is your value Proposition
- Guesses about Product-Market Fit
- Get out of the building and Turn these guesses into FACTS!
- Sizing the opportunity / Opportunity assesment
- Make an estimate of the Market
- Competition / Market type
- Entering Existing market -> Competitors so your product needs to be better, faster, more accessible or Go to a niche by re-segmenting the market
- Creating New Market-> No competition = No customers
- Not about pitching your product
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