Rangkuman buku 4 steps to epiphany

Traditional Product development Concept/seed product development alpha/beta test product launch Product development model seperti ini cocok untuk startups yang telah mengetahui marketnya. Startups dont fail because lack of product; they fail because they lack customers and a proven financial model. A startups should focus on reaching a deep understanding of customers amd their problems, discovering a repeatable road map of how they buy, and building a financial model that results in profitability. Appropriate milestones measuring a startups progress: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. How well do we understand what problems customers have? How much will they pay to solve those problems? Do we understand our customers business? Do we understand the hierarchy of customer needs? Have we found visionary customers, ones who will buy our product earl? Is our product a must-have for these customers? Do we understand the sales road map well enough to consistently sell the product? Do we understand what we need to be profitable? Are the sales and business plan realistic, scalable, and achievable? What do we do if our model turns out to be wrong?

Customer discovery A startup begins with a vision: a vision of a new product or service, a vision of how the product will reach its customers, and a vision of why lots of people will buy that product. To turn vision into reality, a startup must test the hypotheses and find out which are correct. General goal of customer discovery is turning the initial hypotheses about their market and customer into facts. Earlyvangelists : 1. 2. 3. 4. 5. The customer has a problem The customer understand he or she has a problem The customer is actively searching for a solution and has a timetable for finding it The problem is painful enough the customer has cobbles together an interim solution The customer has committed, or can quickly acquire, budget dollars to solve problem

My earlyvangelists will be found only at point 4 and 5.

Process of customer discovery : 0. Get buy-in Getting buy-in from all the key players on several fundamentals, including the customer development process itself, the companys mission, and its core values. 1. State hypotheses Write down all the assumptions, product, customer and their problem, channel and pricing, demand creation, market type, and competition. a. State product hypotheses, six areas : - Product features - Product benefits - Intellectual property - Dependency analysis - Product delivery schedule - Total cost of ownership/adoption b. Customer hypotheses, covers two areas: who the customer (customer hypotheses) and what problem they have (problem hypotheses). Part of the customer and problem, - Types of customers - Customer problems - A day in life of your customer - Organizational map and customer influence map - ROI justification - Minimum feature set c. Channel and pricing hypotheses d. Demand creation hypotheses - Creation customer demand Influencers e. Market type hypotheses - Entering a n existing market - Resegmenting an existing market - Entering a new market f. Competitive hypotheses 2. Test problem hypotheses Begins test and qualify the hypotheses assembles in phase 1. We cant simply validating our hypotheses, well be modifying them as a result of what we learn from customers. - First customer contacts - The customer problem presentation - In-depth customer understanding - Market knowledge

3. Test product concept 4. Verify