From Product-Centric to Customer-Centric: A New Wave of Space Entrepreneurship
Why Building a Customer-Led Organization is Critical to Success in the Space Industry, and How to Find Problems to Solve on Earth and Beyond
As a space entrepreneur, it is crucial to build a customer-oriented company that prioritizes customers above all else. To be successful in the space industry, it is not enough to simply create innovative products and services; you must also understand the unique needs and challenges of your customers. This is particularly important given the recent surge in entrepreneurial space activity.
The first step in building a customer-focused organization is identifying your customers. There are two main customer segments in the space industry: Earth-focused and space-focused customers. Earth-focused customers include companies that rely on satellite technology for communication or navigation, governments that use space surveillance for security purposes, and everyday consumers that use GPS navigation in cars. Space-focused customers, on the other hand, are directly involved in the space industry, such as satellite operators, launch service providers, and other space-focused companies.
To better understand your customers, it is important to define the roles within their organizations and to comprehend what each role does. This will enable you to develop solutions that meet your customers' needs and pain points. For Earth-focused customers, you can ask questions like: What challenges are facing your business that can be overcome with space solutions? How can space technology help you improve your business or gain a competitive advantage? For space-focused customers, you can ask questions like: What are your current pain points concerning satellite performance or operations? How can new technologies and solutions help improve your operations or reduce costs?
There are several tools and frameworks available to help you understand your customers better and identify their needs and pain points, including the Jobs-to-Be-Done Framework, Lean Startup Methodology, Value Proposition Canvas, User Personas, and Customer Journey Mapping.
By prioritizing your customers and their needs, you can develop innovative products and services that meet their requirements and improve your chances of success in the space industry. It is important to remember that building a customer-focused organization is a continuous process that requires constant feedback, iteration, and a commitment to keeping your customers at the heart of everything you do.