Out of the building, into the fire: An analysis of cognitive biases during entrepreneurial interviews

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.

Citation

Chen, T., Simon, M., Kim, J. and Poploskie, B. (2015), "Out of the building, into the fire: An analysis of cognitive biases during entrepreneurial interviews", New England Journal of Entrepreneurship, Vol. 18 No. 1, pp. 59-70. https://doi.org/10.1108/NEJE-18-01-2015-B004