ENT 601 Lecture Notes - Lecture 2: Market Structure, Business Model Canvas, Customer Development
Udacity 1. 5 b business model canvas and customer development. The canvas is a set of hypotheses. Hypotheses are fancy words for guesses the canvas is a series of canvas. It"s a rou(cid:374)d of serious a(cid:374)d thoughtful guesses. Start with canvas hypothesis, make a new canvas, make it visible and post it to the wall. Get out of the building and talk to customers, partners, and vendors. The customer development process: customer discovery construct hypotheses and test assumption. (search, customer validation see if proposed solution matches the problem. Product/market fit. (search: customer creation creating user demand. (execution, company building transitioning into a full sized business. (execution) Customer development is done by the founders. Usually they hire people to do so (cid:271)ut they do(cid:374)"t ha(cid:448)e the (cid:448)isio(cid:374). It is a (cid:449)aste of ti(cid:373)e to do so. The founder can: change the product, make pivots, hear customer feedback first-hand.