You’ve filled out and tested the Product-Market fit part of the business model canvas – with at least 20 customers. You’ve analyzed the competition and you competitive advantage.\
(If you have NOT talked with 20 customers – keep working at it!)
Time to review what you’ve learned and ask some big questions:
Did you get to an “emphatic yes“? In other words, is there some segment (or sub-segment) of customers who absolutely want your solution as soon as they can get it?
If not, then is it:
Time to adjust (pivot)?
Or time to find a new idea?
If you’ve been testing the business model for a month or two – it’a time to ask yourself these questions!
At the very least it’s time to pull together the team and ask “what have we learned, and what should we do differently?