Index - Discovery - Validation - Creation - Building

Step 1 - Customer Discovery

Four Phases:

  1. State Your Hypothesis
  2. Test “Problem” Hypothesis
  3. Test “Product Hypothesis”
  4. Verify

Six sections:

  1. Product Hypothesis
  2. Customer and Problem Hypothesis
  3. Distribution and Pricing Hypothesis
  4. Demand Creation Hypothesis
  5. Market Type Hypothesis
  6. Competitive Hypothesis

Product Hypothesis

Initial guess about the product and its development. The Product Brief covers six areas.

  1. Product Features
  2. Product Benefits
  3. Intellectual Property
  4. Dependency Analysis
  5. Product Delivery Schedule
  6. Total Cost of Ownership and Adoption

Customer and Problem Hypothesis

Initial guess about the customer and their problems. The Customer and Problem Brief covers six areas.

  1. Types of Customers
  2. Customer Problems
  3. A Day in the Life of your Customers
  4. Organizational Map and Customer Influence Map.
  5. ROI (return on investment) Justification
  6. Minimum Feature Set

Distribution and Pricing Hypothesis

Initial guess on how to reach customers and product pricing.

Demand Creation Hypothesis

Initial guess at how your customers will hear about your company and product once you are ready to sell. This brief covers the following areas.

  1. Creating Customer Demand
  2. Influencers

Market Type Hypothesis

Covers the 4 market types you can enter

Competitive Hypothesis

Based on the market you are entering, competition is based on some set of attributes about your products and your competitors. This briefs answers the how and why yours is better.

Learn and refine your assumptions about the customer and their problem.

  1. First Customer Contacts
  2. “Problem” Presentation
  3. Customer Understanding
  4. Market Knowledge

First Customer Contacts

“Problem” Presentation

Customer Understanding

Market Knowledge

Now that you know more about your customer, it’s time for some reality checks!

  1. The Reality Check
  2. Product Presentation
  3. More Customer Visits
  4. More Reality Checks
  5. First Advisory Board

The Reality Check

Product Presentation

More Customer Visits

More Reality Checks

First Advisory Board

Summarize your learnings, spend some time thinking.

  1. Verify the Problem
  2. Verify the Product
  3. Verify the Business Model
  4. Iterate or Exit

Verify the Problem

Verify the Product

Verify the Business Model

Iterate or Exit