Here are some of the notes I took from the conversation:
- Always have checks and balances in place
- Verification: The best way to determine product-market fit
- Dave McClure metrics for startups (The "AARRR" presentation)
- Four Steps to the Epiphany (book by Steve Blank) (.pdf file)
- Canadian startups tend to skip this step or do it too late
- Use a rapid prototype instead of just an idea
- Don't redesign the whole thing just based on your first customer's feedback
- Know when to say no
- Customers may not know what they want
- When first starting have the "seven conversations"
- Measure. Validate.
- Look for lovers and haters -- anything that evokes a strong response should be investigated further
Some personal thoughts on the subject:
- You can learn a lot from "negative" feedback
- If someone tells you they won't use your product, ask, "Why not?"
- You may have a good idea or product, but lack the ability to explain it well enough
- The most successful products are the ones people actually understand
- It can take a long time and many iterations to figure out your "pitch"
- Don't stop working on it until you can tell people "get it" -- for better or for worse
- If they are indifferent, you have a problem (mentioned by Andrew near the end of the meetup)
Great conversation again everyone! An hour just isn't long enough. We always seem to be just getting into the good stuff when wrapping up :)