We all have ideas, that’s the easy part. Validating, iterating, and executing is the hard part. Often, we can fall in love with our ideas and lose sight of the customer and market we must ultimately serve. For your idea to succeed, you need a market and an ideal customer that you can focus your product development on. As such, in my experience working with thousands of aspiring and experienced entrepreneurs around the world, I have learned that one of the most difficult challenges in taking ideas from concept to creation is taking a few steps back to research and validate the market (problem).
The following 30 questions will help you explore the market, validate your problem/idea, and help you decide whether this is worth pursuing.
- What is your idea? State it in 300 characters or less.
- Who is the ideal customer for your idea? Be specific.
- Be more specific about your ideal customer. What does your ideal customer feel, think, want, and do?
- What problem does your idea solve for your ideal customer?
- What obstacle are you removing for your ideal customer?
- In what way do you make your customer’s life easier?
- If you successfully resolve this problem/obstacle, what is the ultimate objective your ideal customer able to accomplish? In other words, what did your ideal customer really want to achieve in the first place? (hint: they do not wake up wanting to solve their problem. They want achieve the goal that the problem is interfering with!)
When I refer to ultimate objective, I am referring to the job that your customer really wants to get done when they run into a problem. Often, we think our customers only want to solve their problems. While that is true to an extent, it is important for us to consider that they only want to solve their problems in order to achieve their ultimate objective. Let’s take AirBnB as an example. Continue reading