In Lean Startup work, discovery is about learning what customers truly need and whether the proposed solution fits that need. It’s a learning-focused phase that seeks problem-solution fit by talking to customers, exploring pains, and testing concepts without demanding a purchase. Validation, on the other hand, shifts to proving there is real demand and a viable path to revenue. It uses a minimal product or MVP to test traction and whether customers would actually buy, reflecting willingness to pay and adoption. So the best distinction is: discovery tests problem-solution fit by learning customer needs, while validation tests traction and willingness to buy with a minimum viable product.

The key difference is where the data comes from: primary research involves collecting new, firsthand data specifically for your current need (for example, conducting surveys or interviews), while secondary research uses data that has already been collected by others (such as published reports, government statistics, or company records). That’s why the statement describing primary research as collecting new, firsthand data best captures the contrast. The other options mix up aspects of data origin or data collection. Saying secondary research analyzes existing data is true in spirit, but it doesn’t define the core distinction or emphasize that the data is not newly collected. Claiming that primary research analyzes existing data is incorrect because primary data are newly collected, not existing. Claiming that secondary research collects new data is false because it relies on data that already exists.

In-person relationship-building at events is the most effective way to market services directly to potential clients. At a wedding expo, Amy can engage attendees one-on-one, explain her services, address questions on the spot, and leave a memorable impression through personal interaction. This fosters trust and makes it easier to turn conversations into leads or referrals. Advertising is broader and passive, which doesn't capitalize on the live, personal touch of the expo. Cold calling is generally unwelcome in a busy expo and disrupts attendees. Social media can extend reach, but it doesn’t provide the immediate, personal connection that networking at the event offers.

Runway is how long your current cash will last at the current spending pace. It’s found by dividing available cash by the monthly burn rate. With five hundred thousand on hand and a burn rate of fifty thousand per month, the calculation is five hundred thousand divided by fifty thousand, which equals ten. So the runway is ten months. This assumes the burn rate stays constant and no additional funding comes in. If you reduce spending or increase revenue, runway can be extended; if spending rises, or cash dollars decrease, runway shortens. Ten months.