Simple framework to “validate” an idea
The basic heuristics to validate an idea
How do you come up with new product ideas?
In the shower?
By looking at your own problems
Brainstorming with friends
All are legit methods.
I asked this question earlier this week on Twitter and got some incredible answers.
It’s clear, coming up with new ideas is not a problem.
The deeper issue is, how do you determine if an idea is worth building or not?
How do you know the time and effort you put into building a product will be worth it.
I think there are 3 basic elements you need to decide if an idea is worth pursuing or not.
Let’s get into it -
Before we start, you should know 3 things -
There is no perfect validation. Markets change, consumer preferences change, competition comes in. So don’t expect to achieve 100% validation for any idea. EVER!
Validation means different things to different people, I’ll throw some numbers here, but they don’t have to stick to them, they can be different for you. As the cool kids say these days, YMMV.
You can NOT validate an idea without investing some money, time or effort. Usually you need a combination of all 3.
Now, let’s go -
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Useful links you don't want to miss -
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Fascinating case study of a $1 vs a free product to attract leads. Thanks Dylan for sharing.
If you want to build a profitable business by solving painful problems, then start your research here.
Indie Hackers is Indie again, interesting turn of events.
5 Key Elements of a Successful Prelaunch (last week’s post)
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See you next week
Ayush 🙏