1. The document discusses customer development strategies that startups should focus on before pursuing other activities like marketing, sales, or fundraising. It emphasizes the importance of developing an MVP and getting early customer feedback to validate the problem and solution. 2. It recommends startups spend their time working on their MVP, conducting customer development by getting the product in customers' hands to collect feedback, and discovering the optimal billing model based on feedback. Only pursue sales once customers love the product and are willing to pay. 3. The document provides tips for finding more customers by identifying where their target customers spend time both online and offline, and setting up a marketing plan to support sales efforts once the product is

1. AMustKnowForStartupFounders
CUSTOMER
DEVELOPMENT
FORSTARTUPS
LLOYD JACOB
www.portalnation.com

2. Beforewestart...
WhatsTheDifference
BetweenaStartupand
aCompany?

3. Startup CompanySeeaproblemorseeaneed
Workingonasolutionorimprovement
Discoveringwho'syourcustomer
Learninghowtobillforproduct/service
Hasasolutiontotheproblemorneed
Knowstheircustomers&lookingformore
Knowshowtobillacustomer
Growingandexpandingoperations

4. Lifecycle DEATH
IDEA/SOLUTION STARTUP
COMPANY

5. WhatYourStartup
SHOULDNOT
BeDoing:(

6. - Printing shirtings
- Printing business cards
- Writing business models
- Writing content, Instagram, Pinterest, etc
- Incorporation
- Filing your patent
- Talking to investors
- Talking to lawyers
- Attending industry conferences
- Paying for expensive software (open source or freebies)

7. WhatYourStartup
SHOULD
BeDoing:)

8. 1.WorkonyourMVP(minimumviableproduct)
AccordingtoEricRies...
"...versionofanewproduct
whichallowsateamtocollect
themaximumamountof
validatedlearningabout
customerswiththeleast
effort!"

9. 2.CustomerDevelopment
Getout,takeyourMVPandputitinyour"potential"customershands.
Goal:Dotheysaythatyouaresolvingtheirproblem?
Goal:Dotheylikethisnewproductyoujustmade?
Note1:Whoisnotyourcustomer:
-mom&dad,schoolmates,buddies,professors,co-founder,yourteam
-trytothinkwhowilluseyourproductandgotalktothem- itisokay
tobewrong aboutthis.
Note2:Talktoatleast20-30ofthem
Note3:Leavequestionsopen-ended,letthemanswer,don'tforcethem

10. 2.CustomerDevelopment(cont'd)
Usethefeedbacktoimproveyourproduct
Domultipleroundsoffeedbackuntilyou
customerslovewhatyou'vebuiltand
seethevalueinusingit.

11. 2.CustomerDevelopment(cont'd)
It'sokaytopivot
Successfulpivots:Tote Pinterest
Android(cameras mobiledevices)
Groupon(onlineactivisim coupons)
BigEngage(e-commerce content)
Ifyoupivot,restartatstep1.

12. 2.CustomerDevelopment(contd)
Discoveryourbillingmodel
Howwillyouchargethecustomer
whonowlovesyourproduct?

13. SALES-$$$$$$$$$$$

14. Accordingtome...
"Youshouldonlythinkaboutsales
onceyouhaveyourproductready
toapointwherecustomersloveit
andarewillingtopayforit."

15. Beforewestarttalkingsales...
WhatsTheDifference
BetweenMarketingand
Sales?

16. Marketing SalesReachoutandcreateinterestin
yourproductorservice.
Setupsupmeetings,demos,coldcalls
toclosethesale.
Theywork handinhand,notasseparateteams.

17. Ok...Let'sTalkSales

18. Nowthatyouknow...
YourBillingModel
YourCustomerType
Howdoyoufindmore
customers?

19. Wheredoesyourcustomerspend
theirtime?
-Blogs&Forumsrelatedtoatopic
-SocialMediaNiche
-LinkedinGroups
-ProfessionalClubs
-Conferences
-Meetups
-Topicspecificwebsites
-Outdoorevents

20. SetupAMarketingPlan
-Listallyourmarketingideas
-Breakthemdownintocateogries
-Expandtheplanforeachcategory
-StartwiththeoneswiththemostROIconsidering
yourresource.

21. GetYourTeamIn
SyncWithMarketing
SupportYouSales
TeamToHelpClose

22. LloydJacob
www.portalnation.com
GoExecute!