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Lessons Learned: Validated learning about customers

Startup Lessons Learned

Lessons Learned by Eric Ries Tuesday, April 14, 2009 Validated learning about customers Would you rather have $30,000 or $1 million in revenues for your startup? This may sound crazy, coming as it does from an advocate of c harging customers for your product from day one. They are gaining valuable customer data.

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Business ecology and the four customer currencies

Startup Lessons Learned

Lessons Learned by Eric Ries Monday, December 14, 2009 Business ecology and the four customer currencies Lately, I’ve been rethinking the concept of “business model&# for startups, in favor of something I call “business ecology.&# Let’s begin with the four customer currencies. And this is true outside of games.

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Lessons Learned: The three drivers of growth for your business.

Startup Lessons Learned

is an elegant way to model any service-oriented business: Acquisition Activation Retention Referral Revenue We used a very similar scheme at IMVU, although we werent lucky enough to have started with this framework, and so had to derive a lot of it ourselves via trial and error. The AARRR model (hence pirates, get it?)

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Pivot, don't jump to a new vision

Startup Lessons Learned

Each has its own iterative process: customer development and agile development respectively. Some startups avoid getting customer feedback for precisely this reason: they are afraid that if early reactions are negative, theyll be "forced" to abandon their vision. One such practice is to pivot from one vision to the next.

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Startup Tools

steveblank.com

signup, upgrade, trial pricing Zuora – online subscription management FeeFighters – find the cheapest credit card processors HealPay – Collections made easy Customer Support Tender – support, knowledgebase tool for your site GetSatisfaction - conversations between companies / customers.

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Lessons Learned on Mashable today

Startup Lessons Learned

We were even more embarrassed by the pathetically small number of customers we had, and the pathetically low amount of revenue we had earned so far. The core of the article is my first attempt to articulate the key metrics (in graph form) that I believe demonstrate customer value. Retention cohort analysis.

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Lean Startup fbFund wrap-up

Startup Lessons Learned

bigs : @ericries says Stealth dev is a (undesirable, failure-presaging) customer-free zone. Another recent meme that I hope more and more startups will take to heart: "stealth is a customer-free zone." See Validated learning about customers for more info. Use some customer development to find out.

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