Strategy

One of the most critical decisions that early-stage technology entrepreneurs must make is to determine the maturity of the marketplace they plan to enter.

Functional, emotional and self-expressive benefits comprise a product’s value proposition to a customer.

Once you have developed your product and market hypotheses, it is time to start testing them with potential customers.

Testing your product hypotheses helps you understand the extent to which your product plans meet customer needs.

Evaluating customer feedback about your target market and product solution will help you determine whether to advance or halt your business plans.

Creating a clear, meaningful value proposition is one of the first challenges any entrepreneur faces.

Identifying a sustainable business model is a critical but sometimes elusive step for many startups—the customer validation process can help.

The main objective of the Customer Development Model is to reach a deep understanding of customers and their problems.

A key feature of the customer development model is to ensure you write down your most important business assumptions.

Market type (specifically, market maturity) affects decisions entrepreneurs must make about their product and marketing, and so this must be identified as early as possible.