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Lessons Learned by Eric Ries Saturday, November 8, 2008 What is customerdevelopment? But too often when its time to think about customers, marketing, positioning, or PR, we delegate it to "marketroids" or "suits." Many of us are not accustomed to thinking about markets or customers in a disciplined way.
Last night I had the great privilege to interview Bill Gross , one of the Internet’s true pioneers. He took out an ad in the Yellow Pages (it was the early 80′s, pre Internet), which cost him $1,000 / month for a half-page ad. If it worked in the Yellow Pages, why not on the Internet? Cars Direct / Internet Brands.
A large number of these customers had mailed back their registration cards (this was pre-Internet) with their names, phone numbers, job titles, etc. So I asked the fatal question, “Has anyone ever looked at the customer registration cards? This was a company that had sold 15,000 graphics boards and monitors to consumers.
Although Catalyst folded with the dot-com crash, Ries continued his entrepreneurial career as a Senior Software Engineer at There.com, leading efforts in agile software development and user-generated content. I got my start programming on an old IBM XT; it was thanks to MUDs that I first discovered the internet.
The embedded presentation above is filled with valuable data on the state of the Internet and trends in technology around the world. CustomerDevelopment 101) – crowdspring.co/1pNIOcD. Crowdsourcing Your Way To What Customers Really Want | Fast Company – crowdspring.co/1oNJIZp.
We’re now in the second Internet bubble. CustomerDevelopment , Agile Engineering and the Lean methodology enforced a process of incremental and iterative development. Startups could now get a first version of a product out to customers in weeks/months rather than months/years. Carpe Diem. Tools in the New Bubble.
Our VP of Business Development had no problems getting meetings and fund raising was easy. The Digital Dream Team Way before the Internet phenomenon, we had created “Rocket Science the brand ” that was much bigger in size and importance than Rocket Science the company.
Whats striking about these stories, if you get past the PR hype, are two very important themes: These prodigies were self-taught, and had a fundamental fascination with technology from a very young age. No logins, no codes, just raw uncensored internet access. No departments The Five Whys for Startups (for Harvard Business R.
Engineers are offenders in this category too, but so is any gender-segregated activity, like an all-female PR or marketing team. Engineers are offenders in this category too, but so is any gender-segregated activity, like an all-female PR or marketing team. Diversity is not the only requirement for making good group decisions.
Journalists, PR firms, investors, and the public at large love a scrappy come-from-behind story about two guys in a garage who figured out how to take down Goliath. CustomerDevelopment : a disciplined approach to finding out if there is a market for your product before its too late. Take a look and let me know what you think.
Bad CustomerDevelopment Questions and How to Avoid My Mistakes – [link]. Bad CustomerDevelopment Questions and How to Avoid My Mistakes – [link]. What Most Businesses Forget About Customer Service | Overit Blog – by Lisa Barone – [link]. 1:1 criticism ratio | 37signals blog – [link].
What the PR stories tend to leave out is that we can get attached to every part of our vision, even the dumb parts. For more on how to figure out which question applies in which context, see Business ecology and the four customer currencies.) and for which customer? and for which customer?
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 CustomerDevelopment – and the name stuck. Sales channels are the paths through which your product lands in customers’ hands.
In the meantime, I think we have a good explanation for what all those PR dollars are being spent trying to obscure. Labels: product development 2comments: Anonymoussaid. The Entrepreneur’s Guide to CustomerDevelopment ► June (3) What is a startup? Dont fall for it - its a trap. Great post!
Chris Schroeder , Internet/media CEO, venture investor and author of Startup Rising: The Entrepreneurial Revolution Remaking the Middle East. — Andy explained that, years ago, a PR person’s was to turn so-called influencers like journalists and analysts into advocates for your client. Filed under: CustomerDevelopment.
Even worse, entrepreneurs are faced with a constant barrage of vanity metrics from competitors and other companies engaged in PR. That’s what you pay PR firms for: to get an article written that is entirely factual and yet still provides positive spin for your company. The PR firm helpfully left out that context.)
The higher the vanity ratio, the more effective the PR. It helps companies with PR. And companies crave positive PR and control over their message – all for rational reasons. The higher the vanity ratio, the more effective the PR. It helps companies with PR. It sells newspapers and magazines.
Meyler Capital is taking the analytical rigor of modern internet marketing and applying it to fund marketing. Other VCs use Klout * to identify relevant influencers who can evangelize their ideas and Contently * or Social Native (HOF Capital company) to create relevant content. 2) Raise capital.
This "success theater" is occasionally useful for PR or getting through a tough board meeting. This "success theater" is occasionally useful for PR or getting through a tough board meeting. The Entrepreneur’s Guide to CustomerDevelopment ► June (3) What is a startup?
The Entrepreneur’s Guide to CustomerDevelopment ► June (3) What is a startup? No departments The Five Whys for Startups (for Harvard Business R. ► May (3) Thank you Philosophy Helps Start-Ups Move Faster (WSJ on the. Take a look and let me know what you think.
Chris Schroeder , Internet/media CEO, venture investor and author of Startup Rising: The Entrepreneurial Revolution Remaking the Middle East. — Andy explained that, years ago, a PR person’s was to turn so-called influencers like journalists and analysts into advocates for your client. Filed under: CustomerDevelopment.
FM KQED live-streams over the internet here : [link] Forum is also broadcast on Sirius XM satellite radio (channel 135 NPR Talk) I know for many of you 10AM is not the common time you're sitting by the radio with nothing better to do than call into a live radio show. There are several ways to tune in: In the Bay Area, tune your radio to 88.5
This is completely analogous to the situation elsewhere on the internet, where launching a new website, product, or service with PR is getting harder and harder. Customers and prospects are overwhelmed by the number of media and companies clamoring for their attention. Acqusition competition is how new apps get new customers.
You could try and drive home that positioning with an expensive PR campaign, superbowl ads, and whatnot. The Entrepreneur’s Guide to CustomerDevelopment ► June (3) What is a startup? So you decide to try to reposition around a different value proposition, one that more closely matches what your product is best at.
Is could be print (newspapers/magazine), Internet (website, podcasts, etc.), In customer discovery, you asked prospects how they get information about new companies and new products. It’s likely that each audience reads different media (potential customers read something very different than potential investors.) Step 3: Media.
What happened when we got early press (circa 2004) in violation of our own no-PR rule. The Entrepreneur’s Guide to CustomerDevelopment ► June (3) What is a startup? Learn why you dont want to do premature press, despite all the pressure youll feel to "launch" early. Take a look and let me know what you think.
Think of the Microprocessor, Personal Computer, Internet, Twitter, Youtube, Facebook, Google, the iPhone. CustomerDevelopment There was nothing wrong about Rocket Science having a vision radically different than the conventional wisdom. Founders need to validate their vision in front of customers early and often.
Id been on the internet since I was playing MUDs as a kid, but by 1999 I felt Id already missed the boat. We go to mixers, buy fancy offices, focus on PR, and try to one-up each other. Instead, lets focus on building companies that matter , on creating real value for customers, and learning. I pretty much missed all the trends.
While I love TechCrunch, the post and the quote about the PR agency (“one PR firm has discovered a dynamite strategy, throw ethics out the window&# ) left me wondering; how do PR agencies interact with TechCrunch and other blog and review sites? Is this behavior an outlier or is it the norm in the PR industry?
Announce a new product, start its PR campaign, and engage in buzz marketing activities. Marketing launch) Make a new product available to customers in the general public. Do your customers really read TechCrunch? Do some CustomerDevelopment instead. Spend your time with renewable sources of customers and iterate.
As a reminder, the Dot Com bubble was a five-year period from August 1995 (the Netscape IPO ) when there was a massive wave of experiments on the then-new internet, in commerce, entertainment, nascent social media, and search. Startups with huge burn rates – building leases, staff, PR and advertising – ran out of money.
Paid - if your product monetizes customers better than your competitors, you have the opportunity to use your lifetime value advantage to drive growth. In this model, you take some fraction of the lifetime value of each customer and plow that back into paid acquisition through SEM, banner ads, PR, affiliates, etc.
Tell Me How to Find You But having benchmarks in hand that showed us as the winner did us no good unless all our potential customers could see them. Our first thought was to spread the news ourselves, perhaps in a press release or a “white paper,” (remember this was pre-Internet.) Theoretically, that’s why I hired them.
This post describes how the traditional product development model distorts startup sales, marketing and business development. This post describes how the traditional product development model distorts startup sales, marketing and business development. Freemium models have their own scorekeeping.)
Talk to your customers or prospects. You have only 10 customers? No customers at all? If you’re starting out, what you need is customerdevelopment, not conversion optimization. Each version of Internet Explorer? You need to talk to people. No problem! Make your site blazing fast. Site walkthroughs.
It connects to the internet to automatically download the necessary codes. In a startup, these channels of communication are critical to understand for advertising, launch and PR purposes. But beyond the obvious, its also important to know where customers go to get answers to pressing questions. They want to do activities.
This series of posts is a brief explanation of how we’ve evolved from Product Development to CustomerDevelopment to the Lean Startup. The Product Development Diagram Emerging early in the twentieth century, this product-centric model described a process that evolved in manufacturing industries.
about the earliest days of entrepreneurship in Silicon Valley, it’s worth checking out this post from serial entrepreneur Steve Blank. If you want to refer to PVO by name, call it just PVO (acronym for “Air Defense&# in Russian). Reply Nelson A.
Reply steveblank , on September 16, 2009 at 7:00 pm said: Greg, The Google Group “Lean Startup Circle&# at [link] is a wonderful repository of CustomerDevelopment/Lean Startup success and failure. This video should be the gold standard in explaining contract terms. It’s more reference material. Thus, these pages.
I don’t know any developers. Here’s the rub: in consumer internet (and often enterprise), if your founding team doesn’t have the chops to get a prototype of your product out and in the hands of a blogger to test and write about, you might as well save yourself a lot of pain – you’re not going anywhere. I need money for the servers.
To imagine that this person does so only to get attention, or only to harass others, or only to harass you are to play into the hands of this geek autocracy on the Internet that just isn't viable anymore. I agree that listening and communicating is a key to success, but customerdevelopment can only do so much.
Launch with a PR blitz, including mentions in major mainstream publications. We can capitalize on new customers. As with many Silicon Valley failures, a flawless PR launch turned into a flawed customer acquisition strategy. The Entrepreneur’s Guide to CustomerDevelopment ► June (3) What is a startup?
Why do you think outsources have been happy to generate all this PR the past few years about people losing their jobs to India? The Entrepreneur’s Guide to CustomerDevelopment ► June (3) What is a startup? No departments The Five Whys for Startups (for Harvard Business R. Take a look and let me know what you think.
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