“…but in the end, it’s the utlimate way to produce value in the market as it is a sign of an execution mentality.”
There’s a lot packed into this sentence. Beyond the obvious message of the importance of talking to customers, and the fact that no one likes to do it, there is a more subtle message that is very important.
Investors are interested in traction as a validation of your business model. But before you have 1,000 visitors to your web site a day, there is the time when you don’t have a product and you don’t have customers. But as Rob Adams preaches, that is the optimal time to validate the market through customer interviews.
It takes discipline and effort; two things that are going to be of interest to investors. If you can demonstrate from hundreds of customer interviews that you have a minimally viable product, you not only validate your business model but you show you have the discipline and execution mindset to get the job done.
This is an intangible that all stakeholders look for but there is not a standard slide in the deck for execution mentality. It comes from evidence of how you conduct business, how you research your markets and how you validate your value proposition.
Read “If You Build It, Will They Come?” by Rob Adams
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