- Company. Think of your idea in terms of its product/service features, the benefits to customers, the personality of your company, what key messages you'll be relaying and the core promises you'll be making to customers.
- Customer. There are three different customers you'll need to think about in relation to your idea: purchasers (those who make the decision or write the check), influencers (the individual, organization or group of people who influence the purchasing decision), and the end users (the person or group of people who will directly interact with your product or service).
- Competitor. Again, there are three different groups you'll need to keep in mind: primary, secondary and tertiary. Their placement within each level is based on how often your business would compete with them and how you would tailor your messages when competing with each of these groups.
- Collaborators. Think of organizations and people who may have an interest in your success but aren't directly paid or rewarded for any success your business might realize, such as associations, the media and other organizations that sell to your customers.
<< Innovating IS Competitive Creativity! >>
Evaluating a New Venture Idea with Four C's
Refine ... Iterate ... Pivot
It starts with an idea, it always does!
The first question, "Who cares? Are there any customers for our idea?" If the answer is "Yes, we think so ...", then move on to the next stage of development: a] create a business model that will fit our target customers and our idea; and b] develop our product and/or service in steps that can be tested and refine (agile engineering, it's called).
If our first customers are happy with the results, find more and more customers and build up our venture. If our first customers aren't all that thrilled, iterate either our business model or our product/service, or both!
[Thank you, Steve Blank.]
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