August 05, 2014
I am a firm believer that to build a successful service or product, you need to be really passionate with what you do. Satisfying your own itch has proven time and time again to be a great way to stay passionate with the product you are building while solving a real issue others might be facing too.
Wanting to be successful, is human nature. We tend to find new opportunities, everywhere we look. But how do you cherry pick out that one, perfect idea?
A good place to start is by analysing new, emerging markets. Figuring out how these technologies will impact our quality of life, and habits is a great way to innovate.
In order to analyse the market opportunity, it is important to go out in the public, test your hypothesis using a landing page and meet with potential users and gather as much valuable feedback as possible, whether the service you will be providing will be useful to them.
Every idea should first be validated and passed through multiple “screening” steps. Take for example, OnePlus, the 8-month old company that disrupted the smartphone industry by providing a high end smart phone, coupled together with an elegant design, at an extremely affordable price. Oneplus started off by asking users what their criteria are for buying a new smartphone. The three most important criteria? Design, Specifications, Price.
Once you are confident that the idea you have chosen is one that you are really passionate about, start by creating a Minimum Viable Product that features only the basic functionality of your final product. Create a customer development team, and experiment with them over and over again to build the perfect product.
What other ways would you recommend to others for refining their idea? Use the comment section below!