[SOUND] We're at the point now where you've done market segmentation, you've done a multi criteria analysis, and you probably now have between three and six potential beachhead markets. Markets where you can start, so the first entry into the market. And it should be small enough for you to become a significant player, where you can be total globally dominant in your chosen market niche, right? And that niche should be big enough to generate some cash for you. That's what we're looking for. Now, this is all hypothesis stuff, we have ideas, hypothesis about the tourism market. The only way to know is to check for facts is to validated in the market. And we do that through customer interviews but be aware, people are lying. Yeah, people are lying all the time. And actually mostly people are lying because they want to be nice to you, they don't want to hurt your feelings. Especially for startups, people really, in general, want startups to be successful. We all root for you, because doing a startup is a courageous thing. So people tell us what we want to hear if you ask the questions that make that possible. So the art that you have to get into your fingers, as we say in Dutch, the art that you have to make something that you are capable of is to be a good interviewer and start asking the right questions. And for that I suggest you read, for instance, this simple book. It's called The Mom Test, it's written by Robert Fitzpatrick. It's a few hours read, and then a lot of effort to develop your skill as an interviewer. And just one of the ways to become a really good interviewer for customers is to do it a lot. So generally, we say do at least 100 customer interviews so you become really good at it and you learn to understand the market much better. There's a few principles in the Mom Test. Talk about them instead of you. Ask about specifics in the past. Listen and don't sell, not yet, we're going to sell later. But in the interview stages, our job is to mostly get into the door by asking a question to someone that could be their future customer. In a sense of that they are an expert, and they are working on this project and they are an expert and could they help? It can be via phone or via LinkedIn or via email. If you say to someone, well I have this problem I'm trying to solve and you are really an expert would you have 15 minutes of your time? Most people will say yes, they just want to be nice. And it's flattering if you call them a true expert, right? So, let's assume you get into the door and you can do your interview. Well, let's try, start with your mom how that could go and which gave the title to that book. So, mom I have an idea for a business, can I run it by you? Then your mother of course will say yes darling. Do you like your iPad, right? Sure, it's great. Okay, so would you ever buy an app which was like a cookbook for your iPad? Hm, says your mother. And it's only $40, and that's cheaper than those hardcovers on your shelf. Hm, I love cookbooks, sounds nice, does it come with vegan recipes, or something special for Christmas? Now let's look a little level deeper, what's happening here in the conversation. Mom might have this idea, she says sure, I'm proud of you and I don't want to hurt your feelings. You like your iPad, well your mom is actually thinking I don't use it that much, only for email and when I surf on the couch. Would you ever buy an app which is like a cookbook? I don't really need another cookbook, your mother is thinking, $40? Your mom is thinking hm, well, I have plenty of cookbooks and isn't that a little expensive, so you're getting false information. Based on what your mother is saying, she might be a customer. Where as if you would have asked other questions you probably would have learned that she's not that interested, she's not going to be a customer at all. So let's do a little quiz. Good or bad question? If you are having an interview with a customer and you ask them this question, do you think it's a good idea, good or bad question? Pretty bad right because you invite them to say something nice to you. Never do that. Would you buy a product which solved this problem, good or bad question? Sorry, bad question, future intention. Again, people want to be nice to you, they say yeah sure, why not? How do you currently deal with this problem, good or bad question? Very good question because this is something about now how do you solve it now? It gives you a lot of information whether your product actually can solve their problem. Talk me through the last time you had this problem, good or bad question? Very good, it gives you really detailed information, if they are willing to do this with you. How much would you pay for this, good or bad question? Again, it's not a good question because people don't really know until you let them pay. Intentions are always hard to validate, people over estimate what they will pay, they want to be nice to you. How much money does this problem currently cost you? This is a really interesting question, if you can get this answer, you get pricing information. Because you know what it costs now and if you have a better solution you might even be able to charge more than this. But at least you can start here, very nice question. Is there a budget for this, good question or bad question? Yeah, sure, it's good, if they wanted to give it to you, you get a sense, okay, they're willing to buy. Who else should I talk to, good or bad question? Good question because if you know someone you like, they know probably other people in the industry. And then also this is sense that they will only introduce you to others if they like you or what you are doing. So, this is a good one. So, this was sort of a first one. We're going to do a second one in a bit.
