Startup Funding Espresso Product Research Practices
Product Research Practices Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. Most founders talk to ten or twenty prospective customers and then start building their product.\xa0 It takes a minimum of fifty customer discussions to understand the problem and how to solve it. If you know the space and come from the industry you\u2019ll be in a better position to research it. If you are new to the space then it\u2019s best to recruit a domain knowledge person to join the research team. This will speed up the process of understanding the basics of the industry. It also helps in contacting potential customers for interviews and discussions. In the discovery phase you\u2019ll want to hear not only about the problem to be solved but also about the customer himself. Ask questions such as how did you find the solution you are using now? How did you choose this solution over other solutions? What was unique about the product that led you to choose this one? How important is the product in your overall workflow? Look at the problem through the customer's eyes and with empathy for the customer. Place yourself in as the customer and ask how else you can solve the problem. It takes a substantial amount of time with customers to understand their problems and how it fits into the overall workflow.\xa0 \xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let\u2019s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .