The number one reason, time and again, that products, services and companies fail is because they are not what the market wants. The number one way to begin reducing this risk is to know your market like the back of your hand and that takes effort on the innovative entrepreneur’s part.
Customer Discovery
Whether human-centered design, or the Lean Startup approach, Customer Discovery is an absolutely critical effort …. to reduce your uncertainty about the market and to understand the pains your customers have so you can gain actionable insights that help inform the solution you need to create to alleviate the market’s pain and the critical elements of your entire business model.
This video by VentureWell is an excellent overview on Customer Discovery.