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← 04-02 Customer_Development_Process

04-02 Customer_Development_Process

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Showing Revision 1 created 09/24/2012 by Amara Bot.

  1. One of the really interesting developments about this class
  2. is this whole customer development process.
  3. It says you start with your business model canvas hypotheses,
  4. and in fact, what you really do is you blow up the canvas,
  5. and you actually post it to the wall, and you use yellow stickies,
  6. no pens or pencils allowed, because you are going to get most of them wrong.
  7. But you're going to make it visible, and you will actually begin
  8. to construct your hypotheses, and the next thing you'll do
  9. is look at them and go "Hey, there aren't any facts in this room."
  10. "Let's get out of the building and talk to customers and partners, inventors,
  11. and we'll learn how to do this with some rigor, with a process."
  12. Not just randomly getting out, but actually design experiments,
  13. run tests, get data, and more importantly, get some insight,
  14. and the customer development process is kind of interesting.
  15. The customer development process is actually
  16. a 4-step process.
  17. The first step is customer discovery.
  18. This is where you construct your hypotheses,
  19. and you get out of the building and start testing your assumption
  20. about whether other people have the same problem or need you think they have.
  21. And then you're going to do customer validation and actually see
  22. if your proposed solution actually matches
  23. what you think the customer problem was.
  24. This test between problem and solution and your features and customers
  25. is actually sometimes called product market fit.
  26. That's what you're out testing, and this is what we call
  27. the search for the business model.
  28. But now instead of randomly doing this by hiring and firing sales execs
  29. and trying to make numbers that really are just random guesses
  30. we're actually going to have you get out as early as possible
  31. and test some of these primary assumptions.
  32. One of the interesting things on the bottom of this diagram
  33. that we'll talk about is something called a pivot,
  34. and the pivot is what will save your job.
  35. Once you find this repeatable and scalable business model
  36. then you go into the execution phase of customer development,
  37. and that's about creating end user demand and scale
  38. called customer creation and then building the organizations
  39. to actually build your company for scale
  40. by transitioning from customer development into a functional organization
  41. that's oriented for constant and rapid execution.