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Traditional funding methods often overlook customer involvement from "summary" of The Customer-Funded Business by John Mullins
Many entrepreneurs rely on external funding sources such as venture capital or bank loans to launch their businesses. This approach often results in a disconnect between the product and its intended users. By prioritizing the needs and desires of investors over those of the customer, businesses risk creating solutions that may not resonate in the marketplace. Investors typically focus on financial metrics and projected returns, often neglecting the insights that come from direct customer engagement. When founders seek funding, they tend to present polished business plans rather than prototypes or minimum viable products that could be tested with actual users. This lack of customer interaction can lead to misguided assumptions about what customers truly want and need. When startups incorporate customer fee...
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