Book Review: The Four Steps to the Epiphany - Successful Strategies for Products that win by Steve Blank

https://www.goodreads.com/book/show/762542.The_Four_Steps_to_the_Epiphany

The Four Steps to the Epiphany by Steve Blank can surely be counted as one of the bibles for product management for building and launching new products in any type of market. Steve shows that often times companies make the cardinal mistake of we shall build it and customers shall come which has proved time and again catastrophic. Then there is the other mistake companies make in assuming their channel partners are invested in creating customer demand. Also Steve describes why giveaways or free trials do not prove that customers will buy the product. Then there is the Silicon valley and Wall Street fallacy of first mover advantage and get big fast. Companies also grossly underestimate the marketing costs involved in launching new products and inaccurately compare to other successful products without researching why those products became successful. Steve presents many relevant examples of failed companies. Steve advocates the customer development model instead of the usual product development model. Steve proves why it's important for companies to ensure messengers of bad news are rewarded and not punished. Good news should travel fast but bad news should travel faster. Finally he proves why employees who are the point of decision know and appreciate the situation better than the executive sitting behind a desk far removed from the facts. This one is a must read for executives and worker bees alike!

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