Product Strategy, Product Thoughts, Uncategorized

One of the most difficult product decisions is “not yet”


(Photo courtesy of https://unsplash.com/photos/3IVOgGIBsM0)
I recently had a (great) idea for a product. In my head it made perfect sense – a way to make it easier for people building presentations to get instant help from a trusted freelancer. Surely many people would be excited to try it out. 

The idea went from sketched-out prototype to tech exploration to see if it was possible to execute the thing I was thinking about, and two things happened. First, two very smart people asked whether this is a problem that anyone has,  and whether I had any data to prove the size of the market. Second, I realized I hadn’t done enough work to move from idea to execution.

“Of course,” I said, sharing market validation stats and thinking about channel partners. But then it hit me – I hadn’t yet taken the fundamental step to validating the market need by hand with no tech investment and no real effort spent. Ideas are a dime a dozen until they have some traction.

And it made me consider the optimal way of moving from idea to idea++, or taking the first next step toward validation. “Paper prototyping,” – the effort to simulate the experience of building product without actually building that product – is useful when combined with tests to establish demand. 

In this case, what was needed was a plan to ask people (ideally those I don’t know) to state that 1) they needed help with presentations and 2) that they are willing to pay other people to solve that problem.

One way to test that would be to use an existing site where people request freelance assistance (let’s say Fivvr, Upwork, or similar) and put up an ad for services. The responses to this ad would give one set of signals for demand. Then, the type of work that resulted might help me determine whether the initial hypothesis is worth more thinking. And third, the initial revenue would give clues to the potential profitability of the idea.

Do I know whether I have a great product idea? Not yet. The next step is to validate whether presentations made “good enough” are sufficient for most people, most of the time. If that’s the case, on to the next idea, until there’s a bit more signal that this one is more than a momentary aha!

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