Remove Cofounder Remove Customer Development Remove Retention
article thumbnail

Lessons Learned: Validated learning about customers

Startup Lessons Learned

It should be even more important to the founders themselves, because it demonstrates that their business hypothesis is grounded in reality. These founders have not managed, to borrow a phrase from Steve Blank , to create a scalable and repeatable sales process. Get product into customers’ hands. More on that in a moment.

Customer 167
article thumbnail

Business ecology and the four customer currencies

Startup Lessons Learned

Each of these four currencies represents a way for a customer to “pay&# for services from a company. A great product enables customers, developers, partners, and even competitors to exchange their unique currencies in combinations that lead to financial success for the company that organizes them.

Customer 156
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Lean Startup fbFund wrap-up

Startup Lessons Learned

The same has been true of an unfortunate number of startups, they manage to generate a lot of hype, raise a lot of money, and sometimes make some of their investors, employees, or founders rich. bigs : @ericries says Stealth dev is a (undesirable, failure-presaging) customer-free zone. Use some customer development to find out.

Lean 60
article thumbnail

A Path to the Minimum Viable Product

Steve Blank

Shawn immediately said the name I had given the four steps was confusing – I had called it market development – he suggested that I call it Customer Development – and the name stuck. And Jennifer is now my co-instructor in the Stanford Lean LaunchPad class.). In other words, you prove retention.

Product 436
article thumbnail

Lessons Learned on Mashable today

Startup Lessons Learned

The core of the article is my first attempt to articulate the key metrics (in graph form) that I believe demonstrate customer value. When startups ask me what to measure, I always come back to these three as a starting point: Revenue per customer. Retention cohort analysis. Funnel averages over time.

article thumbnail

Marching through quicksand

Startup Lessons Learned

And anytime you strike a deal for digital distribution of any content, insist that your creators be given real-time access to the big-picture metrics: not just downloads, but engagement, retention and replay. The Entrepreneur’s Guide to Customer Development ► June (3) What is a startup?

article thumbnail

Lessons Learned: Q&A with an actual reader

Startup Lessons Learned

Either way, you would have been better off focusing your split-test on high level metrics that measure how much customers like your product as a whole. The Entrepreneur’s Guide to Customer Development ► June (3) What is a startup? No departments The Five Whys for Startups (for Harvard Business R.