How do consumers make decisions
Always be inverting
Always be inverting
Old model of launching a business involves high risk as it centres around first developing a product and then selling it later. 75% of all businesses fail.
Steve Blank wrote ‘Four Steps To Epiphany’ (free PDF). The books talks about how businesses should focus on customers instead of products. According to him there are four steps to ‘customer development model’. One, customer discovery. Two, customer validation. Three, customer creation. Four, company building.
Steve Blank writes in Harvard Business Review: Business plans rarely survive first contact with customers. As the boxer Mike Tyson once said about his opponents’ prefight strategies: “Everybody has a plan until they get punched in the mouth.
Join the upcoming free online course about consumer buying behaviour. Professor Ashish Hathi will be taking the classes online. Businesses owners can learn consumer behaviour, market segmentation, consumer research, consumer need and motivation, and consumer behaviour.
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