Lean practitioners often discuss the importance of delivering value to customers and understanding their needs. However, Danny Nathan takes this to a new level with his unique approach to lean customer development. His business is a testament to this. Intrigued by his methods, I invited him to join me on a journey to the Edges of Lean, where he shared his insights and practices.
Danny Nathan:
Danny is a versatile entrepreneur who has made a name for himself by helping companies create and launch new products and ventures. With a background in various fields like product design, marketing, and strategy, Danny is known for his ability to solve complex business challenges. As the founder of Apollo 21, a company that combines business consultancy, product design, and venture studio, Danny helps companies foster innovation, drive growth, and overcome obstacles to scaling by developing cutting-edge technology.
KEY TOPICS IN THIS PODCAST:
00:02:59 – Transition from Acting to Technology
00:04:14 – Types of Products Developed by Apollo 21
00:10:42 – Challenges with Misunderstanding MVP
00:12:02 – Lean Customer Development Explained
00:13:14 – Importance of Validating Customer Needs
00:18:13 – Learning from Customer Development
00:20:04 – Identifying Ideal Customer Groups
00:21:34 – Process of Customer Interviews
00:26:24 – Creating Conviction Through Learning
00:27:00 – Differentiating Apollo 21’s Approach
00:29:13 – Ensuring Against Post-Launch Failure
00:30:37 – Customer Observation Techniques
00:39:06 – Handling Multiple Stakeholders
00:40:17 – Heuristic vs. Data-Driven Processes
KEY TAKEAWAYS:
- Lean customer development is about discovering the purest pain point and validating the need, potential solution, and willingness of customers to pay for it before building anything.
- The focus should be on delivering value to the customer and understanding their needs.
- Lean customer development helps streamline the process of bridging the gap between discovery and minimum viable product (MVP).
- The concept of an MVP has evolved and can be interpreted differently by different organizations.
- The goal of an MVP is to learn as quickly as possible, mitigate risk, and minimize cost and time expenditure.
- Innovation is great, but it is crucial to innovate something that is valuable to the customer and that they are willing to buy.
- Lean Startup provides a clear-cut series of actions to move towards creating something new, but it is vital to adapt and customize the methodology to fit specific needs.
- Lean customer development involves talking to customers, asking the right questions, and gaining a clear understanding of their pain points and needs.
- The process starts with defining the problem space and then talking to a wide range of people to discover pain points and potential solutions.
Memorable Quotes From Danny Nathan::
“Fall in love with the problem and not the solution.”
CONNECT WITH Danny Nathan::
LinkedIn: https://www.linkedin.com/in/amongmany/
Website: https://apollo21.io