Unlocking Startup Success: The Power of Customer Feedback and Building MVPs
Hey there, my founder friend!
Welcome back to another exciting episode of Founder's Buffet. Today, let's dive into the amazing journey of Inovact Social and how feedback played a crucial role in taking them from 0 to over 1000 users. It's all about learning from mistakes and embracing the power of customer feedback.
Mistake #1: The first mistake many entrepreneurs make is becoming an entrepreneur because of the glam and fame around it. But hey, you've already crossed that bridge!
Bigger Mistake: Creating a product based solely on their own perception of the problem. Remember, neither the founder, the investor, nor the team has the final say. The ultimate judges are your customers or users.
In the voyage of a product, customer feedback is the compass that guides the ship. It's like the first time you made a dosa - you loved it, but your mom compared it to a blizzard. Just like that, the process and challenges naturally lead users to love the product.
However, my friend, to truly scale and serve a thousand people, you need to tick off most of the boxes of your user's requirements. Here's where the top mistake comes into play: working on intangible ideas that consume precious time without getting crucial feedback.
Without insights from customers, your product will remain stagnant. Founders often rush to perfection, but remember, perfection is a road under construction. Even giants like Google constantly seek user suggestions to improve.
Before your product takes shape, understanding user wants is crucial. Without this pivot, scaling becomes an uphill battle, and your product might become a failure.
Relax, my friend. Here's where you start - with an MVP (Minimum Viable Product). Build an MVP with only the core features that solve a user's problem. Then, gather feedback like a treasure hunter, modifying and pivoting in the right direction based on what your customers truly want.
At the end of the day, the customer reigns supreme. Positive user feedback is a fuel that propels a founder's lonely and uncertain journey. Those words of gratitude can turn even the toughest days into a triumph. I still remember crying when I received a text thanking me for building Inovact Social.
领英推荐
On the flip side, negative feedback is an opportunity, a chance to pivot and improve. As Chase Diamond suggests, find your competitors, look for negative reviews, and turn those weaknesses into strengths. It's like eliminating competition while you chill in your PJs.
Now, is all feedback worth counting? Well, it's a tough pill to swallow when someone dismisses your hard work as "crap." But fear not! Here are three effective ways I use to save hours:
1. Community members: Building a community around Inovact filled me with suggestions, fixes, and competitor comments. You can do it too - start small and build your tribe.
2. 1v1 Sessions: I've conducted over 50 seminars and 20+ 1v1 sessions with entrepreneurs, founders, and mentors. Raw truth and honest pain points help shape your product.
3. Google Play Store: Don't ignore bug complaints. They're gems in disguise.
And guess what? I'm thrilled to announce a collaboration with Inovact Social's happy users in a video. It's a founder's dream come true, and I can't wait for that moment.
So, mark your calendar for the next Sunday, and let's reconvene at our virtual Founder's Buffet. Until then, have fun, stay tuned, and keep embracing the power of customer feedback. It's the compass that will steer your ship to success.
Your friendly neighborhood Startup Founder,
Sarang.