Who Is Your Real Customer? Focus, Make Trade-Offs, and Conduct In-Depth Interviews Before Building
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Collected in Robin Shen’s Field Notes · Content type and attribution are shown above
English translation of the Chinese post originally published 2021-10-27. Translated 2026-10-31 with AI assistance. Historical figures and claims have not been updated or independently verified. 中文原文
Reading guide
The opening account says TSMC’s business model is determined by who its customers are: other semiconductor companies. It emphasizes technical support rather than personal connections. Robin then asks: who is your real customer? An early-stage startup must focus and make trade-offs; it cannot build a platform for everyone. Before rushing to build, understand target customers through in-depth interviews, confirm demand, then create an MVP, validate it, and iterate quickly. There is little need to rush to investors beforehand: they will ask about interviews and data, and do not want a CEO operating on instinct alone.
Key points
- A business model is determined by who the customer is, rather than what the product is.
- Focus and make trade-offs early: choose one ladleful from a vast river.
- Interview deeply to confirm demand, then build an MVP, validate, and iterate.
- Investors expect interviews and data, rather than a CEO relying on instinct alone.

Full text — English translation
These articles are personal notes, book excerpts, and collected reprints. Figures and events reflect the time of the original publication, are not current information, and do not constitute investment advice.
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