SOCIAL INNOVATION ACCELERATOR BOOTCAMP TO CREATE LASTING PRESENTED

SOCIAL INNOVATION ACCELERATOR BOOTCAMP TO CREATE LASTING PRESENTED BY SANTANDER CHANGE developed in partnership with

CUSTOMER DISCOVERY

Lane Conner Title, Company

Business Model Validation Lab Customer Discovery Identify Assumptions Rapid Prototyping Customer Validation Mentor Feedback Mentor Prep + Cost Assumptions Mentor Feedback Strategic Planning Keep Momentum

10% of startups fail because of product or technology failure 90% of startups fail because of inability to find customers and a market - Steve Blank

THE CUSTOMER Everything flows from validated assumptions of: • who the customer is • what the problem the customer has is • if entrepreneur is able to effectively address that problem with a solution • if the customer is willing to pay for it

COMMON CHALLENGES • Entrepreneurs don’t know exactly how to prioritize what to focus on in the early days of their venture • Entrepreneurs don’t spend enough time in market • Entrepreneurs underestimate how fast they can learn

TODAY’S PLAN • Learn how to find + interview customers • Build a customer interview script • Go interview customers

1. Customer 2. Problem 4. Value Prop 3. Solution

YOUR JOB THIS WEEK Unknowns → Knowns

WHAT HAVE YOU ALREADY TRIED?

HOW TO FIND CUSTOMERS Principles ●Identify the broad customer segment ●Follow the problem, not the solution/product Practice ●Online ●In-Person

HOW TO TALK TO CUSTOMERS

FRAME IT

QUESTIONS “Do you agree that these muffins are just totally delicious? ” why is this question bad?

QUESTIONS Four Things to Remember: • Open Ended Quesitons • Who, What, When, Where, How • K. I. S. S. • Features And Benefits • WIIFM

EXAMPLE QUESTIONS • Tell me about your experience with/when _____? • Walk me through how you ____? • What pain points do you experience when _____? • In _____ scenario/environment, what are you trying to do/get done?

LISTENING > TALKING • You are excited about your solution, and will be inclined to just jump in and start talking about your product/service/solution • Instead, the key is to be patient and do more listening than speaking • The goal is to learn as much from the customer as possible • There is a difference between listening and hearing

NEXT STEPS • Role Play (10 minutes) • Build out an interview script (20 minutes) • Practice (20 minutes)

QUESTIONS?