A Quote by Steve Blank
Face-to-face customer feedback refines or validates every component of the startup's business model, not just the product itself.
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Market type determines the startup's customer feedback and acquisition activities and spending. It changes customer needs, adoption rates, product features, and positioning as well as its launch strategies, channels and activities.
The most common way customer financing is done is you sell the customer on the product before you've built it or before you've finished it. The customer puts up the money to build the product or finish the product and becomes your first customer. Usually the customer simply wants the product and nothing more.
Business is all about the customer: what the customer wants and what they get. Generally, every customer wants a product or service that solves their problem, worth their money, and is delivered with amazing customer service.
Every business is a service business. Does your service put a smile on the customer's face?
Visionary CEOs are product- and business-model-centric and extremely customer focused.
Never expect that your startup can cover every aspect of the market. The key is knowing what segment will respond to your unique offering. Who your product appeals to is just as important as the product itself.
A new DAO is like a startup. It requires a product/market fit, business model realization, and a lot of users/customers.
In the new American ghetto, the nightmare engine is bubble economics, a kind of high-tech casino scam that kills neighborhoods just like dope does, only the product is credit, not crack or heroin. It concentrates the money of the population in just a few hands with brutal efficiency, just like narco-business, and just as in narco-business the product itself, debt, steadily demoralizes the customer to the point where he’s unable to prevent himself from being continually dominated.
Even in the face of massive competition, don't think about the competition. Literally don't think about them. Every time you're in a meeting and you're tempted to talk about a competitor, replace that thought with one about user feedback or surveys. Just think about the customer.
Customer discovery is the process of translating a founder's vision for the company into hypotheses about each component of the business model and creating a set of experiments to test each hypothesis.
Because makeup happens in my life as an actor, face wash is a key. I use La Mer cleansing gel every morning, every night, sometimes three times a day. Also, I use Bobbi Brown's Hydrating Face Tonic that you put on after you wash your face. It just rejuvenates your face. It takes away that morning face.
It's the face itself that I love, not that face at twenty-eight or thirty-four or forty-three. It's that face.
My best business decision was going into business for myself and owning the box my pretty face was on instead of just being the pretty face on the box. And my worst was letting other people run my business.
The customer is always what inspires me first! I love talking to everyone on Instagram and seeing feedback on SnapChat! I can ask a question like "What product do you wanna see next??" and they give you immediate answers. I will never make a product I personally wouldn't wear every day! But I think it's important to be in tune with your audience and see their expectations.
The Lean Startup process builds new ventures more efficiently. It has three parts: a business model canvas to frame hypotheses, customer development to get out of the building to test those hypotheses, and agile engineering to build minimum viable products.
It's extremely hard to build a company with a product that everyone loves, is free and has no business model, and then to innovate a business model. I did that with Kazaa, had half a billion downloads but that wasn't a sustainable business.
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