Steve Blank and other promoters of the Business Model Canvas speak about going out and talking to customers first before going ahead with a business. This is sound advice for those thinking of new business ideas. Before you decide to go ahead with your new business, make sure people want your product or service.
But what if your product or service has never existed and there is nothing relatable to it on the market?
Some products that have had major breakthroughs in the market didn’t have corollaries and they didn’t come after market testing or focus groups. They came from the inspiration of founders who had enough gaul to release them to market before testing. Examples like Steve Jobs or Ron Popeil come to mind. If you had ran a focus group to come up with the iPhone it would have looked like the Blackberry.
So what options to tech founders have to bridge the Business Canvas with reality? How do they know whether customers would reject their ideas because they’re unfamiliar with the new concept? Indiegogo, Kickstarter, or just trying to sell the damn thing.
The wallet is a much better gauge of customer desire than surveys.