Reward early feedback with features

I've invested in hundreds of companies that have started from scratch and I've been though some crazy number of product launches, especially if you include all of the TechStars companies I've been involved with. These alphas, or betas, or v1.0 or v0.1 launches are exciting moments as they signify the transition from an idea to a product. And, it's at that point that the real work begins.

Early in the life of your company you want feedback. From anyone. Of any kind.

It's often hard to get this feedback. You spend all of your time trying to get some people to use your product. When they have problems, you try to fix them. But you are maxed out – with all the various responsibilities you've got and all the things you are trying to do to keep things moving forward.

Occasionally you get feedback. Sometimes it's precise – a feature request, a suggestion for how to do something differently, or a description of something that's not working correctly.

Reward this feedback with features. Fix the bug and then tell the person who reported it that you did and thank them for pointing it out. Implement the requested feature and tell the person that suggested it that you did it. Write a blog post about it and name the feature after the person. Be public about thanking the person for the suggestion.

In addition to making your product better, this does two powerful things.

First, it creates a feedback loop with your early users so they know they are specifically appreciated and valued. This will encourage them to give you more feedback, use your product more, and be part of your extended early community of fans.

More importantly, it builds a feedback loop culture into your business. You and your team will realize the feedback matters. You'll show this through action. Your users will realize this. And they'll value it, and you, more.

What do you do to get feedback from your early users?

(Brad Feld has been an early stage investor and entrepreneur for over 20 years and is currently a managing director at Foundry Group.)