Customer Development

Sean Casey, ATLAS Space Operations

FI Mentor
Your business vision
is an unseen reality!

Startups search for

business model.

Assumptions abound!
 Customer Development ala Steve Blank

I - Search phase
https://web.stanford.edu/
– Customer discovery group/e145/cgi-bin/winte
r/drupal/upload/handout
• Problem s/Four_Steps.pdf

– Customer validation
• Solution
– Pivot?
• Product/Market fit
II - Execution Phase https://blog.12min.co
m/the-four-steps-to-th
– Customer creation e-epiphany-pdf/

– Company building
 Phase I: Assumptions abound in startups!

Market Segment(s) Product or Service

• Who is my customer? • Why me? Why now?
– Live their life • What is my deliverable?
• Problems vs. needs? • Features & Benefits?
– Aspirins vs Vitamins • Relationships with customers?
• Demographics • Delivery to customers?
– Geographics • Price point?
– Customer needs

Test & Validate your assumptions!

 Prospective customers are there to help!

Why this customer? Why this product?

• Networks • Put forward the concept
– Conferences – Introduction - brief
– Community/Competitions • Match features
• Build a relationship – Meeting desires
– Open mind – Mitigating risks
– Listen • Asking for product
– Conversation – MVP demo
– Daily jobs • Grade product/market fit
• Pains & Gains
– Desires & Risks
• Price points
– Willing to pay
100 founder led interviews
 Key Issue: Asking Questions

Available as
Essential Answers KindleUnlimited

• Pain Points
– What problems are you solving?

• Budget Expectations
– Anticipated cost of solving
problem?

• Purchasing decision
– Who makes this decision?
 Out of Office - MVP Engagement

• Tag team
– Listen & take notes
• Know your goals
– Disarm (your ugly baby)
• Open ended questions
– Encourage discussion
• Drill down
– Five whys?
• Say “thank you” Know why you are
– Be personable meeting!
 Interview Synthesis: Product/Market Fit

• Look for the nuggets

• Group similarities

• Prioritize by frequency

• Focus on priorities

“26 Resources”: https://blog.kissmetrics.com/26-customer-development-resources/

Thank You!