For busy young adults, the lure of meal substitutes is simple - it's all about convenience - the level of effort to open a bottle or package is minimal, and the time from thinking you're hungry to eating is almost zero.
From Steve Blank
The art of entrepreneurship and the science of Customer Development is not just getting out of the building and listening to prospective customers. It's understanding who to listen to and why.
Normally when I have students over, we sit in the house and look at the fields to try to catch a glimpse of a bobcat hunting.
Part of Customer Development is understanding which customers make sense for your business.
The goal of listening to customers is not to please every one of them. It's to figure out which customer segments serve your needs - both short and long term.
One of the biggest mistakes entrepreneurs make is not understanding the relationship they have with their investors. At times, they confuse VCs with their friends.
Understand that VCs are simply a sophisticated form of financial investors who, in turn, need to satisfy their own investors.
At the end of the day, VCs have to provide their limited partners with great returns, or they aren't going to be able to raise another fund.
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