Learn more about moneyandinvestments with this collection
How to overcome fear of rejection
How to embrace vulnerability
Why vulnerability is important for personal growth
Partner with your customers, usually through a pilot program, to take your solution through a final round of iteration to refine it into the solution customers want. At this point, your customers should be willing to begin paying for the product. You should begin closing paid pilots or be selling your product.
If customers won't pay now, they probably won't pay later. While it's natural to shy away from or defer asking for payment, we're only avoiding the truth and doing ourselves harm.
147
274 reads
MORE IDEAS ON THIS
The goal is to understand the process by which customers find out about and decide to purchase our product and to use our findings to develop a repeatable sales model and optimize our marketing and sales strategy. We should be continuing to explore and validate price points while closing paid pil...
146
274 reads
Sunk cost leads to irrational decision-making. when entrepreneurs stake their hopes and dreams on a startup, the resulting motivation can make it all but impossible for them to learn in an intellectually honest way - overconfidence trap: research shows experienced individuals tend to be overconfi...
151
1.04K reads
147
213 reads
Recognize our weaknesses and blind spots. We tend to try and reuse ideas from other settings that may not be appropriate. For example, A CEO with a marketing background may see the world through the lens of the "go big" marketing blitz strategy.
148
988 reads
150
339 reads
When it comes to the image you create as a startup, once you start selling, go big or stay home within the niche you have targeted. This doesn’t mean you have to burn all your capital, but you do want to communicate that you are established and reliable when you start trying to capture the early ...
146
230 reads
151
560 reads
"Since only one in every five to ten ideas works out, the strategy of limiting the time we have to prove that an idea works allows us to try out more ideas, increasing our odds of success."
147
474 reads
The customer buying process is the map of your customers' activities from the moment they find out about your product through the purchase and use to the ultimate disposal of your product.
It is defined by the job your customer is trying to get done and all the relevant activities that sur...
146
238 reads
Established markets are markets where products exist and where you intend to compete by offering a product that serves a niche within the existing market or is a complement to an existing product.
Consider attacking the low end of the market first. Customers at the top of the market aren't ...
146
191 reads
Write down a MFS Hypothesis
The minimum feature set represents the smallest, most focused set of features that will drive a customer purchase. There are a few tests that can be conducted:
147
425 reads
In this stage, you cultivate a minimum feature set that you develop iteratively while validating with customers.
As you iterate, in addition to refining the solution based on customer feedback, you should be improving your understanding of the market and defining the best segment for an ini...
147
418 reads
The goal of this phase is to clearly define and understand the customer pain and determine whether the customer pain is a market opportunity.
The test of nailing the pain is whether customers return your cold calls. In this first step, we want to answer the question "Is this a pain worth so...
155
699 reads
New markets are created by a disruptive technology that serves new customers or an opportunity that was previously unnoticed or underserved. Whether or not it is a new market doesn't necessarily depend on your technology or product, but rather how the technology or product is applied. For example...
144
196 reads
Look for leverage points within the buying process at which you can influence customers' purchase decisions.
Example: Apple didn't just revolutionalize the sale of MP3 players by making a better MP3 player. They also reinvented the entire buying process for digital music, which before i...
145
254 reads
The very process of growing will change your company in fundamental ways that will make what you did in the early days obsolete in the later days.
The process of "nailing it" is recursive.
As startups grow, the nature of how they operate begins to change. As a company grows, a shift o...
144
208 reads
It is the ability to recognize new information and then change the way you view the world. It can help you be more agile and beat out your competitors who are stuck in the old way of doing business.
155
1.24K reads
If 50% of customers return your call, you have found the monetizable pain and a potential beachhead for your product.
If it is less than 50%, the low response rate may mean that you just haven't found the right customer niche or the right words to describe the pain to the customer. By talki...
156
546 reads
Close and launch paid pilot-customer relationships and utilize them to refine the product, go-to-market strategy, and serve as references.
If you properly nurture reference customers, at the end of the pilot you will have a robust solution, a deep understanding of your go-to-market strategy...
145
238 reads
Many investors and entrepreneurs will admit that most successful companies faced a crisis before they succeeded.
The value of a good crisis is that it forces you to focus and renew your commitment to make the time to really nail the product and reshape the company.
146
219 reads
149
242 reads
Once you've validated a customer pain, it's time to ask yourself "how big is the pain I'm trying to solve and is it worth it?"
Many entrepreneurs we have talked to discover a customer pain, build a solution for the pain and then realize after the fact that they are actually tackling a rathe...
149
432 reads
Detach yourself from your biases, get on the customer's side of the table, look at the problem from their perspective, and make them feel that you truly want to learn how they feel about this problem and potential solutions
Do you have this problem? Does this solution solve your problem? Wh...
150
338 reads
The price your customers are willing to pay is the measure of the degree to which you have nailed the solution.
Breakthrough questions:
151
312 reads
145
238 reads
162
756 reads
156
1.53K reads
184
1.33K reads
CURATED FROM
This book will teach you how to create your own startup, nail the problem it solves, and scale it.
“
Explore the World’s
Best Ideas
Save ideas for later reading, for personalized stashes, or for remembering it later.
Start
31 ideas
Start
44 ideas
# Personal Growth
Take Your Ideas
Anywhere
Just press play and we take care of the words.
No Internet access? No problem. Within the mobile app, all your ideas are available, even when offline.
Ideas for your next work project? Quotes that inspire you? Put them in the right place so you never lose them.
Start
47 ideas
Start
75 ideas
My Stashes
Join
2 Million Stashers
4.8
5,740 Reviews
App Store
4.7
72,690 Reviews
Google Play
Sean Green
Great interesting short snippets of informative articles. Highly recommended to anyone who loves information and lacks patience.
“
Ashley Anthony
This app is LOADED with RELEVANT, HELPFUL, AND EDUCATIONAL material. It is creatively intellectual, yet minimal enough to not overstimulate and create a learning block. I am exceptionally impressed with this app!
“
Shankul Varada
Best app ever! You heard it right. This app has helped me get back on my quest to get things done while equipping myself with knowledge everyday.
“
samz905
Don’t look further if you love learning new things. A refreshing concept that provides quick ideas for busy thought leaders.
“
Jamyson Haug
Great for quick bits of information and interesting ideas around whatever topics you are interested in. Visually, it looks great as well.
“
Laetitia Berton
I have only been using it for a few days now, but I have found answers to questions I had never consciously formulated, or to problems I face everyday at work or at home. I wish I had found this earlier, highly recommended!
“
Giovanna Scalzone
Brilliant. It feels fresh and encouraging. So many interesting pieces of information that are just enough to absorb and apply. So happy I found this.
“
Ghazala Begum
Even five minutes a day will improve your thinking. I've come across new ideas and learnt to improve existing ways to become more motivated, confident and happier.
“
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving & library
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Personalized recommendations
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates