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I’ve invested in hundreds of companies that have started from scratch and I’ve been though some crazy number of product launches, especially if you include all of the TechStars companies I’ve been involved with. These alphas, or betas, or v1.0 or v0.1 launches are exciting moments as they signify the transition from an idea to a product. And, it’s at that point that the real work begins.
Early in the life of your company you want feedback. From anyone. Of any kind.
It’s often hard to get this feedback. You spend all of your time trying to get some people to use your product. When they have problems, you try to fix them. But you are maxed out – with all the various responsibilities you’ve got and all the things you are trying to do to keep things moving forward.
Occasionally you get feedback. Sometimes it’s precise – a feature request, a suggestion for how to do something differently, or a description of something that’s not working correctly.
Reward this feedback with features. Fix the bug and then tell the person who reported it that you did and thank them for pointing it out. Implement the requested feature and tell the person that suggested it that you did it. Write a blog post about it and name the feature after the person. Be public about thanking the person for the suggestion.
In addition to making your product better, this does two powerful things.
First, it creates a feedback loop with your early users so they know they are specifically appreciated and valued. This will encourage them to give you more feedback, use your product more, and be part of your extended early community of fans.
More importantly, it builds a feedback loop culture into your business. You and your team will realize the feedback matters. You’ll show this through action. Your users will realize this. And they’ll value it, and you, more.
What do you do to get feedback from your early users?
I was at an board meeting yesterday morning for a new seed deal that we’ve done that will be announced next week. I love the product vision – it’s in an area that I’ve been working in for a while across a variety of companies and will take a new approach to a very old and persistent problem.
The entrepreneurs have been living the specific problem for a long time and believe they have a unique and very informed way to solve it. Given that the company has had no funding to date, the founders have been scrappy and have cobbled together a really impressive prototype that they’ve been using to get early customer feedback. It’s an ambitious product vision that will take a while to fully roll out.
In lean startup language, they’ve got a minimal viable product. However, they are faced with two choices. The first is to polish and release the current prototype. The second is to use the prototype to continue to explore and understand the specific customer fit while building a production version from scratch that incorporates much of what they learned during the prototype development.
In their case, the customer is a business customer rather than a mass market consumer web product. Consequently, having 100,000 free users is not important in the near term – I’d much rather see them have 100 paying customers which might translate in several thousand users across all of these customers, as our premise is that organizations will have between 1 and 100 early users of the product.
We spent a lot of time in the meeting talking about this choice as well as overall product cadence. We left it up to the founders to figure out what they wanted to do and what they wanted the cadence to be, but we encouraged a one year top down view, rather than a quarterly bottoms up view. We encouraged them look at where they want to be in a year (remember – this is a seed deal, so we have plenty of ability and desire to continue to fund as they make progress, with or without new investors) and work backwards to a product cadence that works for them.
I don’t know if they’ll have a once a week, twice a month, once a month, or once a quarter release cycle. But I’m fine with any of them as long as they pick the cadence and stick with it. Given my deep belief in an agile development approach, I don’t really care what’s in the actual incremental releases at this point as I fully expect the furthest out they’ll be able to see is one quarter.
It reminded me of something I often tell TechStars teams – “slow down to speed up.” I see so many startups rushing to just get stuff out, without thinking hard about “what that stuff is and why anyone would care.” Part of this is lack of understanding of what you are trying to accomplish, but some of this is a lack of product cadence. When you have a clearly defined cadence (e.g., a monthly release) you can focus on “what’s next” while in parallel explore “what’s after next.” But in the absence of a cadence, you are always working on “what’s next” and never looking out any further.