Understand markets, develop customers

Tom Tunguz on understanding markets:

Markets dynamics evolve. Competitors enter. Technologies advance. Consumers become more sophisticated and demanding. Through it all, the team with the best aptitude for understanding the market throughout its convolutions and respond with a product informed by their insights will succeed.

Steve Blank’s Customer Development Manifesto echoes similar challenges:

1) There Are No Facts Inside Your Building, So Get Outside … 8) No Business Plan Survives First Contact with Customers… 11) Agree on Market Type – It Changes Everything…