Loading...
Answers
MenuWhen validating a start-up idea, can we do customer discovery and interviews without a landing page?
In order to validate a start-up idea, is it better to have a landing page, drive traffic, collect emails then engage with customers, or simply do customer discovery, reach out to idea customers, and interview?
Answers
There is certainly value in starting customer discovery interviews. And no reason to wait for the delay that creating a landing page and waiting to collect emails would take.
I would just advise that you get clear on your hypotheses about who your target customer is so you talk to the right kind of people. Personas can be a good tool for capturing your assumptions about target customer.
A key concept is the different between problem space (understanding customer needs and pain points with how they're getting their needs met now) and solution space (evaluating your idea for how to better solve those problems).
You can go pretty far with customer discovery to understand the problem space. At some point, though, you will want to transition to soliciting feedback on some solution space artifact that represents your solution.
A landing page is good for testing your value proposition and messaging. At some point, though, you'll want to transition to testing a prototype of your product (e.g., tappable or clickable mockups using InVision). I'm a big believer in testing with prototypes before you actually build your product.
I've actually created a 6-step process for defining and testing a new product idea, which I describe in my book The Lean Product Playbook: http://amzn.to/1EYCUdP
I've also given several talks that you can check out at http://dan-olsen.com/speaking/
Good luck!
Dan
http://dan-olsen.com
Related Questions
-
Is there any typical questions for customers' pain points discovery or it's impossible to standardise?
I have built several multi-million dollar businesses using (2) very simple questions: "What makes you say that...." and "Tell me more...." No matter what someone says to you, you just keep asking one (or both) of the questions. If you do it 4 or 5 times in a row you'll learn everything you ever wanted to know.DW
-
What is the best way to write a cover letter to an early-stage startup?
Better than a cover letter is to actually proactively DO something to help them. It'll show them not only that you've researched them, but you're passionate about the startup and worth bringing on. A man got a job at Square early on for just making them a marketing video on his own (back before they had one). Since you're a web designer, design a stellar 1-pager that's targeting their message to a particular niche. Something they could use on social media or something. If they're like most startups, they're not interested in reading cover letters. They're interested in passionate individuals who can add value to the organization.AS
-
What are the key accomplishments for the first year of a startup?
A generalized question can only get a generalized answer. The most significant accomplishment is validating that the product you have built is a fit with your target market. This is demonstrated primarily by engagement (the people who sign-up or who previously visited, continue to return) and secondarily by growth, ideally based on word-of-mouth or viral growth but effectively converting paid traffic is a great second prize. Other significant accomplishments include: Not running out of money Recruiting and retaining great talent who believe in the founders' vision. Your loved ones not thinking you're as crazy as they thought you were a year ago. I'm happy to talk to you in a call to give you more specifics about what you want to set as your goals more specific to your startup.TW
-
For every success story in Silicon Valley, how many are there that fail?
It all depends on what one decides to be a definition of a "success story." For some entrepreneurs, it might be getting acqui-hired, for some -- a $10M exit, for some -- a $200M exit, and for others -- an IPO. Based on the numbers I have anecdotally heard in conversations over the last decade or so, VCs fund about 1 in 350 ventures they see, and of all of these funded ventures, only about 1 in 10 become really successful (i.e. have a big exit or a successful IPO.) So you are looking at a 1 in 3500 chance of eventual venture success among all of the companies that try to get VC funding. (To put this number in perspective, US VCs invest in about 3000-3500 companies every year.) In addition, there might be a few others (say, maybe another 1-2 in every 10 companies that get VC investments) that get "decent" exits along the way, and hence could be categorized as somewhat successful depending on, again, how one chooses to define what qualifies as a "success story." Finally, there might also be companies that may never need or get around to seeking VC funding. One can, of course, find holes in the simplifying assumptions I have made here, but it doesn't really matter if that number instead is 1 in 1000 or 1 in 10000. The basic point being made here is just that the odds are heavily stacked against new ventures being successful. But that's also one of the distinguishing characteristics of entrepreneurs -- to go ahead and try to bring their idea to life despite the heavy odds. Sources of some of the numbers: http://www.nvca.org/ http://en.wikipedia.org/wiki/Ven... https://www.pwcmoneytree.com/MTP... http://paulgraham.com/future.html Here are others' calculations of the odds that lead to a similar conclusion: 1.Dear Entrepreneurs: Here's How Bad Your Odds Of Success Are http://www.businessinsider.com/startup-odds-of-success-2013-5 2.Why 99.997% Of Entrepreneurs May Want To Postpone Or Avoid VC -- Even If You Can Get It http://www.forbes.com/sites/dileeprao/2013/07/29/why-99-997-of-entrepreneurs-may-want-to-postpone-or-avoid-vc-even-if-you-can-get-it/MB
-
Pitch Decks: What do investors think of comedy in pitch decks?
Instead of calling it "comedy", aim for humor. Humor that supports a key discovery helps to anchor that insight in the investor's mind. I've coached many pitches, and find that when presenters are nervous they try to go for an improvised laugh, thinking it will cut the tension. However, in most situations, it comes off as just that: improvised and cheesy. Which confims to the audience that the presenter is nervous and unsure. Humor an advanced communication skill which requires strategy, planning and practice. The best humor is subtle and smart. The goal is not to get a laugh, but to get a knowing smile.DG
the startups.com platform
Copyright © 2025 Startups.com. All rights reserved.