Follow the three Ts to launch better products, says Ryan Ferrier, co-founder of the 60 Day MBA program.
Launching an imperfect product is an entrepreneur's worst nightmare. But by taking the time to perfect it prior to launch, entrepreneurs might be missing out on valuable feedback from customers, says Ryan Ferrier, co-founder of the program 60 Day MBA.
Ferrier and his partner Dave Llorens created 60 Day MBA to help aspiring entrepreneurs learn by doing. For students, that doesn't mean writing a step-by-step plan or designing a flawless product but coming up with an idea and taking it right to the consumer.
"Don’t plan forever and build the perfect machine," Ferrier said in a recent interview with Smart Planet. "Listen to customers, all good comes from that."
At the core of his curriculum are the three Ts:
Talk to the customer.
Translate what you’ve learned into an offering.
Try it out.
By incorporating customers' feedback into product development and their business model, entrepreneurs can launch a successful business.
JANA KASPERKEVIC is a graduate of Baruch College, City University of New York, where she earned a bachelors degree in Journalism and Political Science. She covers start-ups, small businesses, and entrepreneurship for Inc. Her work has appeared in The Village Voice, InvestmentNews, Business Insider, and Houston Chronicle, among others. She lives in Brooklyn. @kasperka