nsf i-corps day 1 - george washington university · dc i-corps accelerator director february 10,...
TRANSCRIPT
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Customer Discovery Dan Kunitz
DC I-Corps Accelerator Director
February 10, 2016
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2, 4, 8
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2, 4, 8 test your hypothesis; guess the rule
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Course outline:
• Feb 10 Business Model Generation and Customer Discovery
• Feb 17 Office hours
• Feb 23 Final presentations and discussion of what’s next
Expectations:
• Articulate your business thesis
• Develop hypotheses about your business model
• Test your hypotheses with 5 - 10 interviews each week
• Update and present your canvas each week
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Course outline:
• Feb 10 Business Model Generation and Customer Discovery
• Feb 17 Office hours
• Feb 23 Final presentations and discussion of what’s next
Expectations:
• Articulate your business thesis
• Develop hypotheses about your business model
• Test your hypotheses with 5 - 10 interviews each week
• Update and present your canvas each week
![Page 7: NSF I-Corps Day 1 - George Washington University · DC I-Corps Accelerator Director February 10, 2016 . 2, 4, 8 . 2, 4, 8 test your hypothesis; guess the rule . Course outline: •](https://reader030.vdocuments.mx/reader030/viewer/2022041112/5f16c3fa32197603c969763a/html5/thumbnails/7.jpg)
Course outline:
• Feb 10 Business Model Generation and Customer Discovery
• Feb 17 Office hours
• Feb 23 Final presentations and discussion of what’s next
Expectations:
• Articulate your business thesis
• Develop hypotheses about your business model
• Test your hypotheses with 5 - 10 interviews each week
• Update and present your canvas each week
![Page 8: NSF I-Corps Day 1 - George Washington University · DC I-Corps Accelerator Director February 10, 2016 . 2, 4, 8 . 2, 4, 8 test your hypothesis; guess the rule . Course outline: •](https://reader030.vdocuments.mx/reader030/viewer/2022041112/5f16c3fa32197603c969763a/html5/thumbnails/8.jpg)
Course outline:
• Feb 10 Business Model Generation and Customer Discovery
• Feb 17 Office hours
• Feb 23 Final presentations and discussion of what’s next
Expectations:
• Articulate your business thesis
• Develop hypotheses about your business model
• Test your hypotheses with 5 - 10 interviews each week
• Update and present your canvas each week
![Page 9: NSF I-Corps Day 1 - George Washington University · DC I-Corps Accelerator Director February 10, 2016 . 2, 4, 8 . 2, 4, 8 test your hypothesis; guess the rule . Course outline: •](https://reader030.vdocuments.mx/reader030/viewer/2022041112/5f16c3fa32197603c969763a/html5/thumbnails/9.jpg)
Customer Development
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Evidence-based entrepreneurship
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1992
1994
1997
So what could
they do?
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Confirmation bias:
The tendency to overvalue data
that supports a pre-existing belief
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What we used to think Your opinions are the result of years of rational,
objective analysis.
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What we used to think Your opinions are the result of years of rational,
objective analysis.
What we now know Your opinions are the result of years of paying
attention to information which confirm what you believe while ignoring information which challenges
your preconceived notions.
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How do you find customers?
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How many cold calls to get 10 interviews?
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• Conversion rate
• Lead time
• Referrals & warm introductions
• Number of customer segments
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Preparing for the interview
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1. Take two people whenever possible – assign roles!
2. Get out of your comfort zone
3. Research them, be prepared
4. Develop specific falsifiable hypotheses
5. Focus on listening and learning; don’t sell
6. Think about archetypes, talk to the right ones
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During the interview
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•Ask open-ended questions ▫ Not yes/no
▫ Not multiple choice
▫ Avoid “would,” “should,” “could,” “do you think…”
▫ Avoid surveys
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•Get specific details about: ▫ Budget
▫ Archetypes (“we need signoff on that from…”)
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• ALWAYS FINISH WITH…
▫ “What did I forget to ask?”
▫ “Is there anyone else you think I should meet?”
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•Why?
•Why?
•Why?
•Why?
•Why?
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After the interview
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1. Write your notes up immediately
2. Discuss each interview as a team
3. Collect data, look for patterns
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Extract Insights 1. What archetype is this person?
2. What did they tell us we’d never heard before?
3. What hypotheses did they disconfirm?
4. What new customer types did they tell us about?
5. What did they tell us about money in the ecosystem?
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Interview workshop
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Team Name
Interview Workshop
Room
(2:15-3:30PM)
Office Hours
Instructor
Office Hours
Time
Wagner GROUP A:
Study Room G-8
Jim Chung
Study Room G-8 3:30 PM
Voyager GROUP A:
Study Room G-8
Jim Chung
Study Room G-8 3:45 PM
Tao Systems GROUP A:
Study Room G-8
Randy Graves
Study Room G-8 3:30 PM
Pancopia, Inc GROUP A:
Study Room G-8
Randy Graves
Study Room G-8 3:45 PM
Fluid I/O GROUP B:
Room 311
Dan Kunitz
Room 311 3:30 PM
Open Data Nation GROUP B:
Room 311
Lex McCusker
Room 311 4:00 PM
Organizing4Innovati
on
GROUP B:
Room 311
Dan Kunitz
Room 311 3:45 PM
Ride Saver GROUP B:
Room 311
Randy Graves
Room 311 4:00 PM
Hedge America i-
Devices
GROUP C:
Room 402
Lex McCusker
Room 402 3:30 PM
Clutch Band GROUP C:
Room 402
Annamaria Konya Tannon
Room 402 3:30 PM
Staff U GROUP C:
Room 402
Lex McCusker
Room 402 3:45 PM
Nikou Inc GROUP C:
Room 402
Annamaria Konya Tannon
Room 402 3:45 PM
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Exercise #1: Cold call • Identify the role of the individual you want to
interview
• Develop a cold call script to get an interview with that person
5 minutes
• Practice your cold call with an instructor or mentor 10 minutes
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Exercise #2: Interview • Develop interview questions
15 minutes
• Practice interview with partner team 15 minutes
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• Extra slides
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The art of customer interviews Good
• Disarm the sales pitch mentality
• Insight questions • Open ended questions • Listen, then listen, then
listen more • Why-why-why-why-why • Parrot back to confirm • Further introductions • Thank the interviewee
Bad
• Selling your product or service
• Talking about your technology
• Not listening • “Learn nothing” questions • “False positive” questions • Biased questions • Interrupting • Missed opportunities to dig
deep
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I-Corps Nodes
I-Corps Sites
I-Corps Teams
Mentors
The National Innovation Network
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Our ecosystem: GW Office of Entrepreneurship
DC I-Corps
AccelerateDC
DC DSLB; TEDCO; CIT
NSF National I-Corps; SBIR/STTR