Reverse How You Develop Your Business Model For Better Results
In contrast to the usual product development model, Steve Blank, in his book, “The Four Steps To The Epiphany,” describes his new approach to developing an efficient and effective path to developing a startup with a real chance of success.
The Customer-Centered Development Model
Most startups lack a process to create, develop, and validate their business. They start by developing the product first because they know its such a great idea. They don’t realize that there are millions of needs and wants in the market, and their view of a need may not match the market’s view of a need or a want.
If you are going to succeed, you can’t be founder-centered; you must be customer-centered.
His model has four steps:
Customer Discovery. Focuses on finding product-market fit by determining if the product solves the customer’s needs and wants.
Customer Validation: Develops a sales model that is repeatable.
Customer Creation: Creates and motivates end-user demand,
Company Building: The move from the learning phase to the business execution phase.
This model flips the “development model” on its head. Rather than developing the product and then finding the market, you do the opposite because it takes several iterations to get it right.. Plus, it’s a frugal way to find out if you have a viable, sellable product. It also keeps you from hiring sales, marketing, and other company development people too early.
Are you preparing your company to meet today’s customer Needs Wants?