Do customers flood you with support calls when your service is down? Or is it more or less quiet? If it's the latter, you have a problem. Because then all indications are that your product doesn't really mean much to your customers; they can easily do without it. Maybe they don't even realize it's not… Continue reading The crisis test
Tag: validation
Your idea is not about you
One of the hardest things to do when you're trying out an idea for a new venture is to separate your own feelings from the data. After all, you probably came up with the idea because you thought it was great - perhaps even the greatest since sliced bread. And now you're bringing it doubt… Continue reading Your idea is not about you
Celebrate invalidation
There is one thing we often forget when we talk about validating ideas and business models for startups (or any other entity for that matter); That it is also an accomplishment to invalidate something. Usually we have a tendency to see things that didn't work out as extremely wasteful from which only fractions can be… Continue reading Celebrate invalidation
The daunting 1st prototype
The last week or so I have been busy building the first simple prototype of our upcoming app - a pre-MVP - for the MedTech startup, we're working on getting off the ground. We will be getting it out there to get early feedback just after Christmas. It is a daunting process. Not only is… Continue reading The daunting 1st prototype
R.I.P. Quibi
A mere 6 months after launch and after burning through a good portion of the 1,75B USD it had raised from investors, the short form streaming platform Quibi is closing it's doors. Why? Because even if they were almost too big to fail they still managed to hit the one big pole, other entrepreneurs work… Continue reading R.I.P. Quibi
Show your ugliness
When you try to do something completely new, the only way you will know whether customers like it or reject it is if you show it to them. This is precisely the argument for why you should be running experiments again and again, as you try to move forward from idea to a product or… Continue reading Show your ugliness
Hypothetical strategy
The most common problems with strategy is that (a) it can be extremely poorly based on actual insight and data about market and customers and (b) it tends to become antique the moment, you have dotted the last i and crossed the last t in the grand plan. When I recently tought a group of… Continue reading Hypothetical strategy
No idea is that dumb*
Some ideas intuitively makes sense. Other ideas seem just about the most stupid thing, you have ever heard of. Yet, while the former can go on and become a viable idea, the dumb idea more often than not end up making a killing. Andrew Chen calls it "The Dumb Idea Paradox". I would just suffice… Continue reading No idea is that dumb*