You already have a rough idea of the opportunity you want to pursue. In Step 1 (START a Business), you have identified a number of assumptions, yet many blanks still need to be filled in. The truth is most ideas you come up with will not work at first, but this is completely fine.
Remember, you are on a journey where it is more important to learn than to be right.
In Step 2 (TEST your Idea), you have selected the best target group. It is time to validate if these are your best target customers. It is important to identify the problem they are facing, what they want to solve and what their current alternatives and their needs are.
Step 3 – SELECT your Customers
In this step, your focus is to understand your customers’ needs.
Perhaps you have gained new insights from the earlier steps, this is the opportunity to use these insights to select the best target group. There is little harm to go back one step since the product/service has not be created!We use various tools, theories and models to answer these dilemmas:
|How to get good customer feedback fast||3.1|
|What group of customers should I focus on first?||3.2|
|I know the pains and gains of my customers||3.3|
|What customer group do I focus on?||3.4|
After this step, you would have successfully applied the tools to learn more efficiently, gain valuable insights and have created the foundation for your business.