1. The Interview Customer Discovery
School of Entrepreneurship

2. Overall Objective of this Lecture
The Need for Interviewing
How to Interview

3. Quality of Idea? Is your Business Likely to Be Successful?
Is This a Fantasy, or a Possible Business?
Am I fooling myself?

4. Quality of Idea? Is your Business Likely to Be Successful?
Is This a Fantasy, or a Possible Business?
How Could You Determine?
Easily and Quickly
Before We Spend (waste?) Money
Interview as Feasibility Analysis

5. (some of them are successful)
3 Options
My Idea is Brilliant!
My Friends Agree!
Proceed On!
Many People Do This!
(some of them are successful)

6. 3 Options Huge Improvement! My Idea is Brilliant! Idea Validation
My Friends Agree!
Proceed On!
Idea Validation
Do You Like It? Y/N
How Much? Scale 1-5
Talk to 10 (?) Different People
Huge Improvement!

7. 3 Options My Idea is Brilliant! Idea Validation Customer Discovery
My Friends Agree!
Proceed On!
Idea Validation
Do You Like It? Y/N
How Much? Scale 1-5
Talk to 10 (?) Different People
Customer Discovery
My Idea Needs to Be Validated
Only the Customer Can Tell Me
Talk to 100 People

8. Course “Elevator Pitch”
Customer & Agile Business Development
Customer
Discovery
Customer
Validation
Customer
Creation
Company
Building
Pivot
Search
Execution
Validate the Market/Product Fit AND Find Customers before Building the Business

9. Innovation/Creativity Processes
Opportunity Design Learning Cycle – Idea Modeling
An “Iterative Circular” Process Driven by
Customer Input & Internal Competencies
Seed with “Rough”
Ideas to Solve a Problem
Implement If
Really Big Idea & Feasible
Seek Customer Feedback
Critique Each Idea
Assess Feasibility
Iterate If Not BIG
Sketch Each Idea
Targeted
Customers
The “Innovation/Creativity” process can be visualized as a series of circular processes which needs to REVOLVE around the targeted customers. At each stage of the creative process the evaluation needs to be relative to or from the “prospective targeted customer”. Ultimately, an entrepreneur is looking for a Market/Product Fit. There must be an IMPACT or market/customer problem AND the startup must have the necessary resources, which can be either internal or externally accessed, or feasibility to develop the corresponding required product or service. You have to DO BOTH.
Per the diagram, innovation normally requires a series of smaller sequential steps that SHOULD revolve around the targeted prospective customers. Creative Ideas are developed, preliminary prospective customer feedback is solicited, the critique is assessed & feasibility evaluated. If NOT everything fits together exactly, proceed around the “innovation circle” again. When everything “FITS” the Idea Concept can exit and an entrepreneur can proceed to the series of “24 Disciplined Entrepreneurship Steps.”

10. Feasibility and Impact- Process
Reality 5 4 3
Market Demand 2 1
Skill or Practicality

11. Customer Discovery Process To VALIDATE and IMPROVE your Business Idea
Based on Open Ended Interviews
It is About the INSIGHTS

12. Idea as Hypothesis
I think that X customer will by Y product for because they value Z.
I think that iPhone owners will by a rubber case because they don’t want their phone glass to shatter.

13. What It Is Not!
PowerPoint Presentation
Demo
Survey Monkey

14. What It Is A Discovery Process Open Ended Questions
Pry Into Motivations
Explore Alternatives
Be Open to Radical Change

15. Interview Process A Variety of People Try to Understand :
Type, Level, Responsibility, Knowledge
Extra Emphasis With Potential Customers
Try to Understand :
How They Behave
What They Value
How Do They REACT to Your Idea?
Why?

16. Interview Process – Current Status
What do they do Now? Why?
How often? Why?
What do they like about what they do?
What do they not like?
Do they have an issue with _____ (problem you have identified)? [is it really a problem]
How do they deal with it?

17. Interview Process – Your Idea
What if you could do it like ___ (Your idea)?
Would you do that?
Why or Why not?
Would that be of value to you?
Could this idea be better?
Any other thoughts?
Can you name 3 other people I can talk to?

18. Customer Discovery Process To VALIDATE and IMPROVE your Business Idea
Based on Open Ended Interviews
It is About the INSIGHTS

19. Interview Process A Variety of People Try to Understand :
Type, Level, Responsibility, Knowledge
Extra Emphasis With Potential Customers
Try to Understand :
Why They Care
How They Behave
What They Value
How Do They REACT to Your Idea?
Why?

20. Interviews Prospective Industry Experts to find more Product Ideas
Corporate Executives
Renowned Research Scientists
Leading University Professors
After Each Interview Ask for 3 Other Applicable Experts to Interview

21. Invalidated ideas – To Validated
Idea 1 – Why it did not work
Idea 2 – Why it did not work
Idea 3 – Why it did not work
Idea 4 – Why it could be better
Idea 5 – Why this meets customer needs
Record ALL Invalidated Concepts, Analyze for Commonality, and Leverage to Identify Opposite Product/Service Ideas.

22. Interview Techniques
Attempt to “Network” into each Prospective Interview Candidate versus a “Cold Call” Approach
Ask your friends, parents, pastor, if they know anyone that could help you. Ask For a Referral.
When you call the prospect, let them know that ____ gave them your name.
Phone calls work much better than to schedule a meeting.
LinkedIn is a great place to find people.

23. Interview Techniques Know the person? Be as friendly as you want.
Stranger? Be polite and professional.
Interview in PERSON if at all possible
(So you can see their reactions!)
Skype is next best option.
Phone is OK
, Text, Survey Monkey are NOT acceptable.

24. Interview Techniques Ask “Open Ended” Interview Questions AND Listen
Minimum of Ten Prepared Questions
Ask “Impromptu” Questions Dependent Upon Answers
Let the Conversation go in new directions.

25. Interview Techniques
Second to Last Question, “Is there anything I didn’t ask about I should know?”
Last Questions, “ Can you name 3 Others I can talk to?”
Say, “THANK YOU!”

26. READ Talking to Humans
This book will create a competitive advantage for you.
This will prepare you to overcome common obstacles faced when speaking to customers!
A free download of the book is available at