Customer Pain Comes Firtst

If there’s one principle that should be at the heart of our journey, it's this: we must be obsessed with talking to customers. For entrepreneurs who are obviously excited about the go-to-market, it’s tempting to jump straight into product development with a great idea, but if you don’t start by understanding customer pain, you’re setting yourself up for failure. History is full of the remains of countless startups that failed not because their products were flawed, but because they skipped this critical first step.

Think about it: some of the most groundbreaking innovations, like DVRs, microwaves, and minivans, weren’t born from customers asking for those specific solutions. Instead, they sprang from deeply understanding customer pain points—missing favourite shows, needing quick meal options, or struggling with the logistics of busy family life. Our job as Founders/Product Managers/CEOs is to discover these pains, not simply by assuming we know the answers but by engaging in direct, meaningful conversations with our customers.

Key takeaway: Customer insights are the currency of credibility, without them, everything else is just an uninformed opinion - as I once heard, "In God we trust, All others bring data."

The Art of the Possible

Once you’ve unearthed the pain points, the next step is to pair these insights with what’s technologically possible. It’s about pushing boundaries and thinking creatively. This is where the art of innovation truly shines—when we can envision solutions that customers might not even realize they need. This is not just about fixing problems but about imagining entirely new ways to deliver value.

Small bets - the Most Important is to Learn

Startups and successful corporate ventures share a common strategy: placing small bets. This isn’t about gambling but about taking calculated risks that allow us to test, learn, and pivot quickly. Whether we’re validating a new product feature or exploring a different market segment, these small experiments help us iterate and refine our approach without committing too heavily upfront.

And what about Managing the Mothership

Here’s where the road diverges between startups and corporate ventures. In a corporate setting, managing the powers within your company, "the Mothership" is a unique and often daunting challenge. Navigating internal politics, aligning with corporate strategies, and securing buy-in from key stakeholders are all part of the equation. We can excel at understanding customer pain, innovating solutions, and testing ideas, but if we mismanage the Mothership, we risk losing the crucial support you need to succeed - influencing is key!

Unlike startup founders, intrapreneurs don’t have the luxury of operating in isolation. We’re not just answering to customers we’re also answering to internal stakeholders whose agendas and priorities might not always align with ours. But when we master this element, we unlock the Mothership advantage—a unique strength that allows us to leverage our parent company’s resources, brand, and network to scale faster and smarter than any standalone startup could.

Final thought

If you are an Intrapreneur or an Innovation Manager within an organization, embrace the complexities of your corporate environment. Use the Mothership’s strengths to your advantage, but always keep your eye on the ultimate goal - delivering real, meaningful solutions to your customers’ pain. That’s the path to success in corporate ventures.

The call to action is clear: understand your customers better than anyone else, and use that knowledge to guide every decision.

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