The data is overwhelming. According to various studies, 9 out of 10 startups do not manage to survive beyond 3 years, and in roughly half of the cases, failure is due to the lack of real demand for the products or services they offered to the market.
With the aim of minimizing risk and improving the success rate of projects, various authors and researchers have developed different theoretical approaches and methodological solutions, based on the most common factors that lead to the end of entrepreneurial projects.
In this regard, one of the most notable contributions that specifically addresses the aforementioned absence of real demand is outlined by Steve Blank and known as the ‘Customer Development’ methodology, closely associated with the Lean Startup movement.
In many cases, the figure of the entrepreneur is associated with profiles of a highly technical nature, as the technological component is usually the most prominent, recognizable, and distinctive feature of most startups. Knowledge of these disciplines powers and focuses on everything related to the creation of «products» and the development of new features, sometimes neglecting business-related matters.
For this reason, and with the goal of achieving optimal alignment between the value proposition of new businesses and the market, Steve Blank presents his theoretical approach based on the idea that only through a better understanding of consumers’ problems/needs can the best solutions in the form of products be proposed.
To achieve this, Blank proposes the implementation of systematic methods based on the scientific method, relying on observation, trial and error, and research. These processes are easily applicable by entrepreneurs since they are part of the set of methodological skills typical of technical profiles.
In essence, this approach combines the identification of real business opportunities with the ability to build products that consumers would be willing to pay for.
If you are an entrepreneur and want to obtain specific and valuable information quickly and easily, at We are testers, we offer various tools that will help you make the best decisions for your business. Because understanding consumer demands is the first step to giving them what they need.
[author] [author_image timthumb=’on’]https://www.wearetesters.com/wp-content/uploads/2018/12/josu.jpg[/author_image] [author_info]Josu Rodrigo, COO of We are testers[/author_info] [/author]
Update date 22 December, 2023
