Monday, February 10, 2014

Before Launching a Venture, Sample the Waters

This article, "Before Launching a Venture, Sample the Waters" really resonated with me because it is a step that I imagine many entrepreneurs fail to do, but can make or break a company. The article stresses making a low fi prototype or testing the product on a small set of people in order to really understand the consumer market. The Human Computer Interaction Institute at Carnegie Mellon has a saying that sums it up well: "I am not the user".
The developer of the product is likely very excited and enthusiastic about it (that's why they want to start the business). But the developer isn't like every user, and so he cannot develop with just himself in mind. Instead, he needs to see the user in action, and understand the real challenges and benefits. Even if a product is immensely helpful, perhaps it isn't delivered in the right way. I'd love to have a battery extender for my laptop so I never needed a charger on campus, but if it makes my back pack heavier, then the product wouldn't be worth it to me.
A venture needs to have a great product or service that the entrepreneur is confident and excited about, or the venture will never even get started. However, soon you can no longer just be in love with your concept, "you have to get over that and fall in love with your customer."

http://online.wsj.com/news/articles/SB10001424052702303942404579360783046310224

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