The art of asking questions to develop solutions people want

First of all, Thank you, 6,008 subscribers!

In this issue, I will cover the following:

1. Art of customer discovery to develop solutions people want
2. News trends in innovation & healthcare
3. Check out the announcements at the end!

Dear entrepreneurs,

To bring a product to market, you face many challenges. I have seen many healthcare and tech startups I mentored struggle with them. You put much energy, passion, and money into turning your idea into a product, only to realize it falls short in the market or nobody buys it. That fear of failing can be overwhelming or even paralyzing. But it does not have to. That's why I want to talk about the importance of customer discovery.

Did you know that 35% of startups fail because there is no market for their product or service??

In this section, I will cover the following topics:

• What is customer discovery?
• Why is customer discovery important?
• How to conduct customer discovery? (Get it in your inbox directly)

What is Customer Discovery?

Customer discovery is gathering information about your target market to understand their needs and pain points better. This involves speaking with potential stakeholders, including end users, influencers, and decision-makers. Customer discovery aims to validate your hypothesis about your target market and uncover insights that can inform product development. The figure shows four steps of customer discovery.

Why is Customer Discovery Important?

Not conducting customer discovery is a recipe for failure because you are guessing what your customers want. By talking to your customers, you:

• Gain insight into customers' actual pain points, the presence of alternative solutions, and their willingness to pay for a solution to alleviate their pain points.
• Gather valuable feedback about product development and marketing strategies. You'll be able to develop a product your target market wants rather than one you think they want.

Customer discovery is an ongoing process throughout the product development cycle rather than a one-time event. Continuous customer engagement allows startups to stay ahead of changing market trends and customer preferences.

How to Conduct Customer Discovery?

Customer discovery includes interviews and focus groups. It consists of four steps listed below. Find out more here.

Customer discovery is a crucial step in the product development process that is often overlooked. Startups that fail to conduct adequate customer discovery risk building products that don't meet their customers' needs. By conducting customer discovery, you can develop a product your target market wants rather than one you think they want. Don't let the fear of failure hold you back. Take action now and start conducting customer discovery.

If you're a startup founder, entrepreneur, or business owner, prioritize customer discovery and integrate it into your product development process, save time and thousands of dollars, and improve your chances of success.

I created the program "From Idea to Impact" to help founders, entrepreneurs, and innovators learn a proven system to gain clarity & grow their business without the overwhelm.

Interested. Send me a direct message: Limited seats to offer a great interactive experience

AI in business news:

• Interview with Openai CEO on GPT4 and the future of AI with Lex Fridman

Bill Gates open letter about AI "The age of AI has begun"AI leaders (1,120 +) including Elon Musk, Steve Wozniak, and Yoshua Bengio sign an open letter "Pause Giant AI Experiments". We call on."ll AI labs to immediately pause for at least six months the sixraining of AI systems more powerful than GPT-4.

Healthcare innovation news:

• How the EU's New Data Laws Could Affect American Health Tech Companies
• Creating a Culture of Innovation with Hackensack Meridian Health
• ViVE2023: business of healthcare systems for healthcare leaders

Join me live LinkedIn audio 03/30/2023 at 9 AM EST to discuss: "Overcoming challenges for success for Women entrepreneurs in healthcare tech,

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I appreciate your readership!!

About me:?I am Dr. Nadia Boutaoui, PhD, EMBA founder & CEO at NanoNares & Entrepreneurs in healthcare, wellness and tech .

I help CEOs in healthcare & tech make data-driven decisions to grow their business and storytelling to grow their influence.

PS: Let me know of subjects you would like me to cover in upcoming newsletters

Remember: Machine learning is as good as the data used to train it!