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He’d wasted a year of his life and had a pile of stockoptions that weren’t very interesting. They’re deep into CustomerDevelopment ,” he said. He’d been working at a well-funded startup for about a year and had come to terms with the fact that the startup was really a pretty dumb idea. Tesla is not. Here’s why.
For the past year, they invested in the team and technology to prioritize speed of iteration with disregard to traditional methods of customerdevelopment and company building. WhatsApp, recently acquired by Facebook for $19 billion in cash and stockoptions , challenged traditional Silicon Valley logic.
I started my last company with 100% off-shore resources because I could never have completed CustomerDevelopment at a reasonable cost of money or regulatory burden had I employed US Citizens. The Entrepreneur’s Guide to CustomerDevelopment ► June (3) What is a startup?
They have many, many man-years of development and customerdevelopment in them. You may call it employee number one with a really low salary and really generous stockoptions and as the company grows, you’ll fix their salary. Edwin: There are a million others. Maybe that’s one way to go, right?
Everything Seth said is absolutely spot on, except I’d encourage founders to make sure they do some customerdevelopment (even in the consumer space) in parallel to cranking out the first product. Will be looking forward to seeing the next piece that you do. Andrew Holt I love these kinds of articles.
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