Problems, Assumptions, & Customers Oh My!

In my entrepreneurship class, I push students to start a business within the semester (evidenced by achieving authentic sales from strangers for something that they “created”). It is a scary landscape for my students. Instead of just talking them through it, I lead them through it; I hold myself to the same standard and also try to start a business within the semester.

College Students Need Better Career Advice

We find problems through personal experience and observation. Having engaged with hundreds of (mostly business) students every semester for 6 years (and having been a student a few years back), a problem I recognized is that students are dramatically unprepared for the uncertainty they will soon face. And, more importantly, I see tons of them actively scrambling to find resources to help them prepare. It is not just a problem I observe, it is a problem I see them actively trying to solve, and I hear from them that the solutions they are finding tend to be inadequate.

First we identify a problem: College students cannot find timely, actionable career preparedness advice in an easily digestible format they enjoy

Then we frame our problem as a question: “How can we provide timely, engaging on-demand career advice for college students?”

Then we reframe the question to lead us to more powerful conversations with potential customers: “How can we get students excited about their freedom?” or “How can we prepare students to create their future?”

Assumptions Will Sink You

As we prepare to engage with potential customers through problem interviews, we want to also be able to acknowledge the assumptions  we come into the conversation with. These are the leaps of faith, so can make or break our journey. Deliberately investigating our assumptions will help us experiment more effectively. The Assumptions Mapping Worksheet available from David Bland and his team at Precoil is a great resource to identify out desirability (“do they want this?”), viability (“should I do this?”), and feasibility assumptions (“can I do this?”).

Some of my assumptions:

College business students want help preparing for their career

College and online career preparedness/advice resources are inadequate

College students are scared of the uncertainty of post-college

College students will pay for targeted, on-demand career advice

What About The Customers?

My students want to get talking to potential customers. They want to learn about their problems. They want to sell them a solution. It’s really hard to be patient, and to prepare adequately for engaging customers. But it’s critical to do so methodically. I encourage them to really work on formulating a solid problem, and dig really deep to identify their assumptions. Next step is to do some work (through the FOCUS Framework worksheets “Who Are Your Early Adopters?” and “Your Early Adopters” by Justin Wilcox) to narrow down on the specific niche who will hopefully be our early adopters. For me, I’m thinking that niche will be 2nd semester junior business students. Freshman and sophomores aren’t quite there yet in terms of the urgency. Seniors often think they are all set, or just don’t care. Generalities here of course. We’ll get some planning done with these two worksheets and be much better prepared to talk to the right potential customers about the right problem so when we get to a solution we’re building the right solution.

What are your thoughts about this journey? Any suggestions for how to improve it? Any steps I’m missing?

One thought on “Problems, Assumptions, & Customers Oh My!

  1. Pingback: Two Stories Every Entrepreneurship Student Should Tell | Teaching Lean

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