Back
Vikas Acharya
•
Welbe • 1m
𝗔𝘃𝗼𝗶𝗱 𝗦𝘁𝗮𝗿𝘁𝘂𝗽 𝗠𝗶𝘀𝘁𝗮𝗸𝗲𝘀: 𝗟𝗲𝗮𝗿𝗻 𝗳𝗿𝗼𝗺 𝗦𝘁𝗲𝘃𝗲 𝗕𝗹𝗮𝗻𝗸 ! Steve Blank, who helped create the "Lean Startup" idea, says that new companies are different from big ones. Big companies know what they're doing, but new companies are trying to figure it out. He learned that the first plans for a new business are just guesses, not facts. Blank says that new business owners often think they know exactly what customers need right away. But he says it's better to reduce risk by treating your ideas as guesses you need to check. The most important thing is to "𝙜𝙚𝙩 𝙤𝙪𝙩 𝙩𝙝𝙚𝙧𝙚" and talk to potential customers. Find out who they are, what they need, what problems they have, and what they want to achieve. "𝗧𝗵𝗶𝘀 "𝗰𝗵𝗲𝗰𝗸𝗶𝗻𝗴" 𝗶𝘀𝗻'𝘁 𝗮𝗯𝗼𝘂𝘁 𝘀𝗲𝗹𝗹𝗶𝗻𝗴" It's about really understanding what customers are struggling with so you can build the right solution. After you talk to customers and learn more, you can change your guesses. Then, you build a very basic version of your product (called a Minimum Viable Product, or MVP) a little bit at a time, always talking to customers to make sure you're on the right track.
Replies (6)
More like this
Recommendations from Medial
Mehul Fanawala
•
The Clueless Company • 1y
Most SaaS companies spend 90% of their resources trying to acquire new customers, but only 10% on retaining them. Surprising, right? 🚀 → Your most valuable sales reps are your current satisfied customers. → Retention boosts profitability by 25-95%
See More
Rohan Saha
Founder - Burn Inves... • 1m
At the present time, IPOs have become useless. Right now all the companies are worried about their valuation, they have nothing to do with what will happen to the share value or share price after listing, and due to this, those companies that are com
See More
Download the medial app to read full posts, comements and news.