DO'S:
- DO embrace the Customer Development Model. Start by understanding your customers, their problems, and needs before you build your product.
- DO focus on "Customer Discovery". Get out of the building and talk to potential customers. Understand their needs, challenges, and frustrations.
- DO validate your assumptions with "Customer Validation". Test your product or service with real potential customers. Validate your business model, pricing, and sales process.
- DO create your "Customer Creation" strategy. After validating, create demand and drive it into your sales channel. Consider the market type and adjust your strategy accordingly.
- DO build a scalable and repeatable sales model in the "Company Building" phase. Transition from a start-up organization to a company focused on executing a validated model.
- DO iterate. If assumptions are not validated, don't hesitate to pivot and make necessary changes to your product or business model.
DON'TS:
- DON'T assume you know what the customer wants. You need to communicate with potential customers and get their feedback.
- DON'T stick rigidly to your initial plan. The Customer Development process is iterative. Be open to feedback, learn from it, and adapt your approach accordingly.
- DON'T move to the "Company Building" phase prematurely. Ensure that you've found a repeatable and scalable business model before transitioning.
- DON'T ignore the importance of market types. The type of market you are entering - existing, new, or re-segmented - has a significant effect on your sales and marketing strategy.
- DON'T fall into the trap of executing before learning. Execution is necessary, but it's just as important to learn and understand your market, customer problems, and needs.
- DON'T fear pivoting. If your assumptions are proven wrong, pivot your business model or product accordingly. The fear of pivoting can lead to sticking with a failing idea.