A process of identifying and speaking with people you think might be potential customers to determine their needs or pain points, purchasing decisions, habits, etc. Through these conversations, or interviews, you will learn whether you have a group of people who would be willing to pay for your product or service.
Customer segments are the unique groups of customers you think you serve. They are generally identified by one or two characteristics (ie: a florist may have the following customer segments– brides, the bereaved, event planners).
A sub-group within a Customer Segment that has definable, distinct characteristics. Customer Personas should have clear enough distinct characteristics that allow you identify, target and craft messaging designed with them in mind.
The values and/or benefits you bring to customers through your product/service.
A business still in the first stages of operations for whose products or services the founding entrepreneur believes there is a demand. A “high growth start up” is one in which the founders have the goal of quickly growing to serve a large number of customers.
A business that is geared toward supporting the owner's income and personal requirements rather than maximizing revenue or growth. The goal of a lifestyle business is to create a sustainable and pleasant work/life balance, not necessarily to grow.
A business that is operational with paying customers that are generating a profit. Generally thought of as having 1-10 employees. You may have a physical space or not, and provide a product or service.