Real opportunity stems from market need, and market need is driven by the individual buyer. But how much focus does the customer receive, as opposed to the product, in the mindset of budding entrepreneurs? And what kind of time and resources does a new start-up spend getting to know this person that they hope to sell to repeatedly? Silicon Valley's greatest minds on market intimacy and tried-and-true customer assessment strategies share the importance of meeting your client on their own terms, and tools to widen and deepen your reciprocal relationship.
Any assumption that an entrepreneur makes about their customers and markets is nothing but a guess, says serial entrepreneur Steve Blank. But how can one prove a working hypothesis? It goes beyond soliciting friends for feedback in the dorm room. Successful ventures locate real customers in the field, solicit their feedback, and deeply analyze the customers whose problems they hope to solve.
Mohr Davidow Ventures partner Erik Straser offers insight on the unfolding sector of new energy technologies, and discusses how it will be affected by an economy in credit crisis. He unveils the market's high level of industrial innovation, and offers students of entrepreneurship sound advice on finding the next crest in grand socioeconomic opportunity.
Ninety-percent of Silicon Valley's start-ups fail not because of faulty product, but because they don't tap the right market and they don't know their customer. Well-seasoned serial entrepreneur Steve Blank drafts a new model for plotting the path between good idea and market success.