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Innovation Leadership
Innovation Leadership

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Founders Academy Day 1

At the start

Start with a list of assumptions
I believe, we believe
Audience experiences pain
They want to eliminate pain for benefit
They would choose us over alts for reasons
We believe audience would spend money to eliminate pain
Etc

Add how important is it this this true

Next question
How many potential users do you need to talk to
As many as necessary until you start getting similar response from most/many (hundreds or so)
Questions should be open-ended
(Do you agree that…)is closed ended. Injects opinion etc
How do you… Tell me about a time when… are open ended, less likely bias injected

If you are fortunate you will solve a problem that is Top 3 pain in the ass problem, not 8 or 15.

To ask people this question, get off the phone and out of the office, visit prospective customers in their natural environment
(you will find them more honest, open, you’ll be amazed at discovering new things, have them walk through their current process or solution)
Don’t just thank them for their time,
At the end of interview, recap what you heard and ask them to confirm you’ve got it right.
Show you were paying attention, give opportunity for clarify, ask if they want to be notified of release and/org beta test)

Feasibility
When start building think minimal, manual, crappy, local, throwaway, redo

MVP
Visually: it is not car tire, then axel, then cabin then running car
It is skateboard, scooter, bike, motorcycle, car
I.e minimum viable product entirely viable for problem
If it’s a “Top 3 pain in the ass”, the people will use the skateboard

Idea development homework

  1. Business plan assumption: tell me which assumptions are already validated (investors want to hear what assumptions money is going toward validating)
  2. Customer discovery interviews: if you cannot get to who you need to talk to, it is a survivability test. Pharmaceutical reps practice like lobbyists.

Bias influences your pen on the paper (when interviewing)

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