Communicating the message of the product/service better
Create a presentation deck
Communicate clearly about the hypothesis
Clarity is more important than certainty
Are you clear about what you know about your business today?
Huge companies spending a lot of money just to get their message to you.
Huge companies are afraid of disruptions from startups.
Recap of last week’s topic: funding lifecycle
Designing the Product/Service to see Product-Market Fit: metrics is Desirability (how the customers feel about your solution? Would they recommend the product to other people, if not, why not? On a scale of 1 to 10. To see if there is a strong Product-Market Fit to the point that they would recommend.)
Designing the Business (channels, acquisitions, delivery) to see Feasibility and Financial Viability; this is where revenue will come in.
Validation stage: Learning not Earning
- Quantitative representation of your strategy
- Capex (Capital Expenditures)
- Necessary equipment
- Opex (Operating Budgets)
Questions to ask
- What must the entity have?
- Can the entity afford it?
- Is it worth it?
Promise is defined by company; value is defined by customer.
Each customer will have different expectations.
Expectations (What is expected) vs. Perceptions (What is delivered)
Changing the way we look at things / the way we solve problems.
Identify if there are gaps in the expectations and perceptions.