Why You Need to “Get Out of the Building”
“If I had asked my customers what they wanted, they would have said a faster horse”. This quote, commonly attributed to Henry Ford, illustrates the mentality of many entrepreneurs. Entrepreneurs almost by definition must be passionate about their idea. That is what sustains it during the lean years before it takes off. However, it is important not to let your passion get in the way of improving your idea.
To avoid this pitfall, entrepreneurs need to get out of the building and ask what it is that their customers want. What pains do they encounter on an everyday basis, and does your product solve that pain? Is the price point too high or too low? They like your product, but maybe they would like it even more in red. The only way to discover information like this is to get outside and talk to your customers. Take your time with this process, and dive deep into what your customers are saying. While companies like Ford and Apple may not have allowed customers to dictate the shape of their idea, validating their customer needs was still just as important to them as coming up with their next big product. So next time you come up with a great new idea, don’t forget to take it out of the building to validate it with your customers.
This post was inspired by Professor Joseph Rando, one of our Wond’ry mentors and a professor in the Vanderbilt Department of Managerial Studies. To hear more great advice like this, check out our mentor page and come visit some of our excellent mentors during their open office hours. You can find more information on our Wond’ry mentors at https://www.vanderbilt.edu/thewondry/mentors/.
Laura HIllsman
Student Ambassador
Class of 2017