I was a mentor at Seedcamp today in London. Will write more about it over the next few days – it’s on all week.
One of the presentations I really liked was by Rob Fitzpatrick promoting his new book The Mom Test. Now I’m a big fan of Lean and especially of Customer Development, but as a VC, Rob’s assertion that everyone is lying to you as an entrepreneur really rang true with me.
There’s no benefit to investors or business contacts, or mums frankly, in saying your idea sucks. If you ask leading questions asking for validation that you are spending your life building something useful, then investors, mums etc will give you the answer you are looking for. Sure honey, knock yourself out.
The Mom Test is a really practical book – thanks Silicon Valley Bank for sponsoring this so everyone at Seedcamp London got a free copy! The book shows practically how to ask the right questions so you get to the truth about your idea and how to improve on it, rather than fishing for compliments which are easy to get but hide the truth underwater. I saw the pitch from Rob at Seedcamp, am 20 pages in and love it already.