Customer discovery paves the path to profitability.
This really is the work for entrepreneurs starting a new business. Customer discovery requires trust in your early moves, obsessive curiosity, patience, thick skin, humility, an interest in being wrong, discernment, and a willingness to adapt. No problem, right?
For many entrepreneurs, impartial feedback can be scary. Customer discovery puts ideas on the hook, and colliding new conversations may contradict past assumptions. That’s the point! Interacting with the market you seek to serve allows us to learn from no in a way that gets us to yes.
As you collaborate with those who criticize what you’re building, learn why naysayers debate your hypotheses. Be humble. Either attack the massive lift to change the product and even the target customer or make your concept more compelling to win over those who care.
The more you learn from others, the more you’ll recognize supply and be able to meet true demand. Collecting real-world data is human and intellectual capital that attracts more network and financial capital.
Beyond the psychology of it all, customer discovery can feel like a drag because it is often a protracted process. The time commitment is real. This market exploration can be slow at first and may seem less necessary as signals of traction emerge. The potential need to rethink ideas makes feedback scary too. As always, if the entrepreneurial lifestyle was easy, career nirvana would not be so fleeting. Knowing this, we can seek honest feedback that strengthens our value proposition to eventually go further in the right direction.
When learning from the perspective of others, it’s imperative to remember that feedback is data.
Collect, organize, and examine data from feedback like a scientist. Inference is more informed with data. Decisions that are made become more in tune with reality as you continue to collect and learn with data.
As you translate decisions into action, you must also find your own way. Even with good intent, people who provide you with feedback are doing so based on their experience. The experience of others is based on their own past, and no feedback is likely to fully harmonize with your vision. There are many ways to navigate the idea maze. Gather feedback like power-ups in a video game and use diversified data to guide your quest toward product-market fit.
Brewed From Within
#19 📖 Entrepreneurship
