Most entrepreneurs should be familiar with the basics of Lean Start-up methodology:
- Start by searching for product/market fit.
- Get out of the building and talk to customers.
- Run a series of experiments to validate your ideas.
- Above all else, validate your thinking as early as possible: don’t spend millions of dollars building something before you have tested the ideas and concepts with customers.
Many entrepreneurs find it hard to reach real customers. Getting feedback from co-founders, friends, small focus groups, user testing sessions and even existing customers can be very helpful to qualitatively understand how others view your offering. But many times the sample group that you can reach is too small and biased towards people that will be polite to you, or who have self-identified as liking your product.
Validate your business ideas using feedback from a representative sample of your target group – your potential customers. For even greater objectivity, start-ups can consider outsourcing their data gathering, collection and analysis.
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