The formulas, tricks and trade secrets of Private Equity

Customer Development

Sample Chapter

I am totally into Customer Development at the moment. Well, I hope it’s been for more than a moment and I hope it’s for more than a moment more. Anyway, I’ve been devouring Steve Blanks’ blog lately, which has a great focus on Customer Development and how it should work in practice. The underlying theory (okay, it’s not theory, it’s fact) is that an entrepreneur should live and breathe the customer. Not in a warm and fuzzy love thy neighbour way, but more in a they pay the bills and make my business awesome therefore they are my business way.

One of my previous posts talks about responding to investee underperformance and keeping the focus on building a great business. Well, there’s a lot that comes to mind that opposes this idea and only a few things that come to mind that are in sync with the idea. Customer Development is in sync.

I can’t even nearly do it justice, so here’s the link to Steve’s Customer Development blog posts. Also, check out his slides that explain Customer Development in more detail. Enjoy.

http://steveblank.com/category/customer-development/

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