STEP 23Show That “The Dogs Will Eat the Dog Food”
WHAT IS STEP 23, SHOW THAT “THE DOGS WILL EAT THE DOG FOOD”?
Offer your Minimum Viable Business Product (MVBP) to your target customer and obtain quantitative metrics regarding the adoption rate of the product, the value the customer is getting from the product, and that someone is paying for the product.
WHY DO WE DO THIS STEP, AND WHY DO WE DO IT NOW?
Numbers don’t lie. Entrepreneurs have an ability to create great passion for a vision, but now is the time for reality, to show concrete evidence that your product, and specific features of it, are succeeding. Qualitative information and conceptual logic are not sufficient. You do this step now because you finally have the MVBP and you need to validate it before moving forward.
The customer is the final arbiter of success, so now you will build a scoreboard to show whether the customer accepts the MVBP.
PROCESS GUIDE
Entrepreneurial ventures usually fall into one of two varieties. The most common state is that they are blindly optimistic that everything is going great and getting even better. The other state is one of paranoia where the team is overly ...
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