Customer development is a new term that describes old notions. The process allows the business person to build a strong customer base, based on continuous feedback from customers and users. This sounds fairly simple but I can assure you that very few entrepreneurs participate in this exercise. And the result is failure. Failure to find the customer, failure to provide for his/ her needs, failure to keep them around.
Since Steve Blank decided to codify customer development and describe the process in detail, there have been many more entrepreneurs who decided to try it out. And the results have been astonishing. In the following video I just describe the basic methodology behind customer development, as Steve Blank explains it in his book on The Four Steps to the Epiphany.
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