Steve Blank - Summary→Market Size
Market research data is great when it comes to the past. As far as the future is concerned, you must have valid input from your customers to get short and medium term key figures.
We have dealt with the subject of growth and the market in the last few articles. Today, we want to summarize this in a somewhat shorter form.
Talk to your customers
If you don't go out on your own, don't get personal feedback, recognize the "stomach pains" of your customers, you will have a hard time going in the right direction. Talk to your customers, listen to what they have to say and incorporate this priceless and often free feedback into your decisions.
Assessing the market size correctly
An existing market is not really a disadvantage. You can target customers of the competition and understand why they use product A or B and how large their customer base is. Possibly, there is a similar product (to yours) already abroad and you can adapt all the best of it.
Market research/companies like Forrester and Gartner...
are good, but all analyses are based on the figures of the past. You can only decipher the current market size as well as the completed growth from it. This does not mean that this will be the case in the future. The car industry is going through something like this with e-mobility. Nevertheless, these figures can be very helpful for decision making. With the existing knowledge and the statements of the customers we can draw conclusions for further planning. Which markets are possible and how stable are they?
This article is written by our CEO, Bernd Korz. With his experience as an entrepreneur, he shares his vision about the lessons provided by Steve Blank. Join us every week for a new article on Steve Blank’s lectures.
More information on Steve Blank:
- alugha Videos
- Google Search
- Amazon Books
- Twitter Steve Blank
- Twitter Bernd Korz
More articles by this producer
Is it necessary to have multilingual videos even though you only operate in a local market?
As a result of globalization, more and more people speak one of the major world languages, while regional dialects constantly lose importance at the same time. People want to communicate worldwide, and they can not do that with only speaking their regional languages. We'll tell you more about the gl
Videos by this producer
Nazi leader Adolf Hitler is seen giving a speech in Essen, Germany at the Krupp Factory 3 years before World War II broke out in this archive footage from 1935. For Archive Licensing Enquiries Visit: https://goo.gl/W4hZBv Explore Our Online Channel For FULL Documentaries, Fascinating Interviews & C
Since I was 22 years old, I’ve been self-employed, and I have usually been working in a leading position, mostly as CEO or CVO (or both). I think I could write a book about it, about all the highs and lows. I have learned a lot by myself and from others, about myself and others. There have been very
I took the chance on the 29th of April and have been to McDonald's for the first time since ages to try Vegan TS.. And or course as usual McDonald's should give the Oscar to their food photographer or send a very bad letter to their emplpoyees. The paddy itself is good and well done. Not as good as