I've had the pleasure and struggle of starting multiple businesses. The businesses I've succeeded in the most were ones where I intimately understood the customer, the problems they had and had a valuable way of solving their problem. The idea of understanding your customer is nothing new, but for most new entrepreneurs, it's easier to focus on other important tasks like branding, app development, website development, business planning, etc. Out of all of these tasks the most important thing an entrepreneur should be focusing on during the early days is talking with customers and potential customers and learning about all of their problems. By understanding the customer intimately, entrepreneurs can save a ton of time and money from not assuming they have complete understanding. This afford them the opportunity to begin building out marketing channels and lock in initial revenue to validate the business all together. By having real relationships with customers, we increase our ability to build something they'll truly love.
To demonstrate the importance of how this works, I'm going to set a new commitment and demonstrate how this works in a little experiment. Over the next week, I will test out my latest idea, Genius Armour. I will do so by reaching out to at least 200 different people. I will attempt to have in person meetings, video chats and on-site visits with them, but will at minimum have a few questions answered about their problems. Here is our hypothesis and some of the questions I'll be asking.
Hypothesis: Founders want to share ideas securely without having to use a traditional NDA.
Problem Hypothesis: Thinking about sharing ideas openly without any protection creates a negative feeling for entrepreneurs.
Questions I'll be asking:
What are your most common problems you face on a day to day basis?
What problem would you eradicate from your day to day life if you could in an instant?
How often do you share new business ideas with other? How do you go about sharing?
How does this problem rank in comparison to your originally stated problem hypothesis?
I'll also be rolling with the conversation. What are some more questions that you all believe I should be asking?
I will track and report back about my findings after talking to 200 customers. I must reach out to 200 people by end April 1st. Stoked to see what we'll learn by putting our understanding of the customer first!