Out of the building, into the fire: An analysis of cognitive biases during entrepreneurial interviews
- 1 March 2015
- journal article
- Published by Emerald in New England Journal of Entrepreneurship
- Vol. 18 (1), 59-70
- https://doi.org/10.1108/neje-18-01-2015-b004
Abstract
A major source of failure for new ventures is the entrepreneurs℉ misunderstanding of the product-market fit. Recently, researchers have suggested that to get a better understanding of the product-market fit, entrepreneurs should “get out of the building” and interview many customers. This approach, while advantageous, is not without drawbacks. This article presents a conceptual model that incorporates the characteristics of “getting out of the building” to conduct customer interviews, and the biases that can arise to influence the entrepreneurs℉ misjudgment of the product-market fit. We provide recommendations to overcome these biases.Keywords
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