Thirty years ago, research by Professor Roger Calantone of Michigan State University suggested that new products fail because too little attention has been paid to real needs. In addition, he opined that the most common failures are with products driven by technology rather than what the customer needs.
Sounds like the classic dilemma: technology push vs. market pull. Which camp are you in? Does your elevator pitch begin with a description of your technology? In how much detail can you talk about your customer’s problems?
For most technology entrepreneurs it’s difficult not to analyze a problem through the lens of their own solution. Therefore, they can’t see the problem the way the customer does.