Vetting an Idea Before Moving Forward
When inspiration strikes, it’s difficult to repress it. However, as an entrepreneur it’s critical you analyze your new idea before moving forward in order to make sure it’s worth all of the time, money and energy required to bring it to life. Here are a few tips on how to do so:
Solve your own problem.
- If there is a problem that you are contending with that currently has no solution, and your product idea will address this and make your life easier, then chances are you’re not alone. This is an idea worth pursuing.
Gauge interest early on.
- Create a splash page and test your product idea with a few different markets. You might be surprised to find a different audience you didn’t plan for ends up being the one who responds to your idea the most. Either way, it’s crucial you know your audience well before moving forward.
Test, test, test.
- Not just with your target audience, but with a cross-section of demographics. Testing across the board will reveal your product’s strengths and weaknesses, and may help highlight areas in which you can improve upon its functionality.
Check in with yourself.
- It’s all too easy to get overwhelmed with the details of development, but periodically re-evaluate your product to make sure it’s still something that you would personally use to solve your problem – and if it, in fact, works as you intended.
If the idea behind your product is personal, if you determine who your audience is, if you test your product repeatedly and it yields the intended results, then you have a product worth pursuing and investing in.