Online Feedback Management Tools for Early-Stage Startups: Hidden Treasures in the Rocky Mountains

The microenterprises called Startups perform series of interactions with potential customers using prototypes to validate the business model related assumptions, especially value proposition. Value proposition refers to the value the product is going to offer to the customers by providing them benefits and addressing their difficulties in getting their tasks done. The importance of value proposition innovation is evident from the fact that most of the software Startups fail due to their inability to reach product/market fit, i.e., building the product for which there is no market demand; attributable to requirement engineering related issues.1 The product value innovation is a tool to sustain competitive advantage; the task for which the involvement of customers is of utmost importance throughout the product lifecycle to get continuous product related feedback.2,3