Out of the Building, into the Fire: An Analysis of Cognitive Biases during Entrepreneurial Interviews

Authors

Tianxu Chen, Oakland UniversityFollow
Mark Simon, Ph.D., Oakland UniversityFollow
John Kim, Oakland UniversityFollow
Brian Poploskie, Oakland UniversityFollow

Issue Season

Spring/Fall

Document Type

Refereed Article

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.

Recommended Citation

Chen, Tianxu; Simon, Ph.D., Mark; Kim, John; and Poploskie, Brian (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, Article 5.
Available at: https://digitalcommons.sacredheart.edu/neje/vol18/iss1/5