MIT Entrepreneurship Case Study: Choosing Your Target Customer (Part 3)

In this video case study, taught by MIT's Bill Aulet, you will learn why it is essential to choose a target customer very specifically. You will learn that knowing who your business serves also means knowing who your business doesn't serve. Understanding and maintaining that discipline is essential for startup success.
This is Part 3 of the case study. Please access:
Part 1 at ► • MIT Entrepreneurship C...
Part 2 at ► • MIT Entrepreneurship C...
Part 4 at ► • MIT Entrepreneurship C...
This video is part of an MIT Bootcamps Online Entrepreneurship Course ► ENTREPRENEURSHIP 101: WHO IS YOUR CUSTOMER? Your can enroll in this course for free now ► courses.edx.org/courses/cours...
"Entrepreneurship 101: Who is your customer?" is an MIT Bootcamps massive open online course on entrepreneurship. The goal of the course is to teach you to see the world through your customer’s eyes. You will learn the essential tools for starting a venture in a customer-centric way. In the process you will also get exposed to instructive and inspiring case studies of MIT entrepreneurs.
The course is taught by Bill Aulet and Erdin Beshimov.
► Bill Aulet is Professor of the Practice of Entrepreneurship at the MIT Sloan School of Management. He is also the Managing Director of the Martin Trust Center for MIT Entrepreneurship.
► Erdin Beshimov is the Producer and Host of Entrepreneurship 101. He is a Lecturer at MIT and the Founder of MIT Bootcamps.
ABOUT MIT BOOTCAMPS
MIT Bootcamps is an immersive, intensive, experiential MIT program for global innovators. At the Bootcamp you will learn entrepreneurial problem discovery and problem solving that MIT is known for. This toolkit will give you the power to seek real problems, develop superior solutions, and design ventures that are sustainable for your team, your customers, and the world. You will also join a tight-knit, lifelong and growing community of over 1,000 innovators selected by MIT from over 100 countries.
MIT Bootcamps was founded at MIT in 2014 by Erdin Beshimov with a vision to bring MIT to entrepreneurs around the world. Since the launch of MIT Bootcamps in 2014, Bootcamp alumni ventures have raised more than $70 million in funding. Six Bootcampers have been named to the Forbes 30 Under 30. Many have gone on to MIT’s graduate degree programs. Admission to an MIT Bootcamp is highly selective. Learn more at www.youtube.com/watch?v=u6_jd.... Apply at bootcamp.mit.edu.
Other innovation and entrepreneurship MOOCs by MIT Bootcamps are:
► "You Can Innovate: User Innovation and Entrepreneurship”
► “Entrepreneurship 102: What Can You Do for Your Customer?”
► “Entrepreneurship 103: Show Me the Money”
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[@manjuchandra2000]

This definitely makes sense, attention and resources are diverted and eventually focus is lost.

[@emer0eskimo]

Ah, this makes sense.
Stereotypes aside, I never considered the power that an "image" has to a customer. This makes sense in terms of how people desire to buy cultural or social capital. The bell curve illustrated the role of focus quite well.
Thank you for presenting this framework- I've definitely gained some valuable insight here.

[@goruloveguy]

This is so interesting in so many phases of business and life..

[@obinnaezeuko2505]

No