Question

7. a) Describe the overall objective of product-market fit.

b) As a startup consultant you are hired to develop a customer development strategy for a startup that sells customised speed boats. Describe each step and explain what your advice to the startup would be.

Answer 1

It grasps a natural hope and a through attitude to establish a good startup model. When developing a startup, the creator thinks that they are placing out a complete firm model. They believe that their commodity will dial the trade regard and will be an original cast. But it doesn’t take place, and in the end, they see some annoying probability. It can be secret as the bar level, which states the commodity’s trade needs. Whether your merchandise please the trade, where does it occur, and what is its development chance. Steps to develop a customer development strategy for a startup that sells customized speed boats are: (1) Customer discovery is when the creator’s vision is there and changed to a way of business model theory. It is then grown into a scheme to examine the buyer act and receive their reply as functioning information. (2) Customer validation examines upcoming to notice if the developing business model is a replay and measurable. If it is not, then it means giving back to the buyer locating step one. (3) Customer creation is the beginning of achievement and creates end-user insistence. It also states that demand alerts the sales arm to measure the business. (4) Transition the organization from a startup to a company that is absorbed in performing a verifying model.