Difference between revisions of "Valley of Death"

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Key mantra: constraint creates innovation
 
Key mantra: constraint creates innovation
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Previous Stage: [[Ideation]]
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Next Stage: [[Growth]]

Revision as of 18:05, 25 March 2007

The birth of the customer.

The Venture is in a fight for its survival and the way it will survive is to find customers - people or organizations who will pay for its product or service. Just as the founders co-created the Demo in the previous phase, so they now co-create the solution with the customer. This is a delicate dance as it will involve many changes to the Demo in order to become a viable product. In some cases, the initial Demo will be thrown away entirely. The Demo acts as a way to get the conversation going with the customer.

If possible, some Bootstrappers will find customers while still in the Ideation Phase.

Here again, there is a temptation to seek investor capital. However, the Bootstrapper knows that this will shift focus away from the critical dialogue with the key dance partner, the customer.

Key mantra: constraint creates innovation

Previous Stage: Ideation Next Stage: Growth