037 - Find and validate good product ideas

MegaMaker 2022

English - September 23, 2016 13:00 - 20 minutes - 19.2 MB - ★★★★★ - 111 ratings
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Previous Episode: 036 - Starting with no audience, no idea, and no revenue

Next Episode: 038 - What motivates people to buy?

After a long hiatus, Justin is back to talk about a system for discovering what people want, and building solutions they'll actually buy.

Show notes

A few Product People Club spots left!
Feeling dizzy

Mega Wednesday - live video at 10am every week
Alen Klement's new JTBD book
Like2Have.It

The reason people buy a product is they imagine their lives better with that product, than without it.

Steps for discover product ideas.

Download the slides here.

1. Start with people

Choose an audience that...

You know, understand, and like
That buys things
That congregates online

What group is already paying you for your time and expertise?

2. Research + listen

Places to do research online:

Google (look at related keywords)
Twitter
Reddit
Facebook Groups
Facebook search

3. Create a hypothesis

As a math grad student I want an online course so that I can make it through my first year of grad school.

4. Test your hypothesis

What's the smallest "product" you could create that could disprove your hypothesis?

What you learn when you launch a tiny version:

How hard is it to find customers?
Did I hit a nerve? Did I identify the #1 pain?
How hard is it to get people to pay?
How satisfied were people with the solution?
Do I like the customers?

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