To answer this we begin at the alarming fact that 92% of all entrepreneurs fail. If you dive deeper into why this stat exists we discover that. the major reason they fail is because they build something that there isn’t currently a market need for, aka they built a product that people don’t want and wont pay for.
Luckily there is a proven framework to overcome this major hurdles that ends countless dreams and innovations from getting off the ground.
Customer Discovery (CD) was pioneered by the likes of Steve Blank and Bob Dorf and it ultimately gave birth to the Lean Startup movement (lead personally by Startup Jesus himself, Eric Reis).
To boil CD down simply it is essentially a four step process to turning your ideas and assumptions into a series of testable assumptions so you can speak to potential early adopters to validate or disprove these assumptions to ensure that when you do begin to create. your. product you can do so knowing that you will be creating something that a specific market segment will find valuable.
To help you get started, here are the four steps:
- Step One: Define your hypothesis and assumptions
- Step Two: Test the Problem (Idea Validation Interviews)
- Step Three: Test the Solution (User Research/Testing)
- Step Four: Verify your product (Pivot or Proceed)
Taking the time to go through all four of these steps (in sequential order) can be life changing in the sense where you are creating a bridge to turning your dreams and ideas into reality. You can use this process to create something that thousands or even millions of people may find extremely valuable one day.
What Do We Do?
We understand that even with this brief explanation you may still be confused by how to get started, but thats why we started customerdiscovery.co. While our platform prototype is being developed we have a consultancy service to help you with all of your idea validation and user research needs.
Customerdiscovery.co is a two sided customer discovery marketplace dedicated to helping founders build products that people love and connecting them to the people that love them.
We accomplish this by guiding founders through the 4 stages of Customer Discovery on our web platform which is currently under development.
Founders will go through key 3 stages in their user journey as follows: 1)Experiment Design
2) User Research (Idea Validation & User Testing)
3) Experiment Analysis (Insights Report and Sales Roadmapping)
By the end of the 3 stages of. our user journey founders will have successfully validated (or disprove) a specific market need based on their root cause analysis and used that data to create a MVP quickly and test it with a few early adopters to discovery ways to improve their product.
Thank you for reading today and as always, if you have any questions feel free to email me at email@example.com and I would be happy to help.