– find unexpectedly or during a search
Discovering what your business and product is going to be can be both accidental or purposeful. Which ever way you come about your idea has only a minor impact on it’s future, what does have major impact is the amount and quality of research that you preform before deciding on a strategy for execution.
It comes back to the old adage “an ounce of prevention is worth a pound of cure”. In this case a reasonable amount of research will prevent spending a much larger sum in unnecessary development time. This is not a rule though, it’s easy enough to spend too much time on research to avoid taking risks and failing. Striking that balance between too much or two little is highly depended on the size of the project, your personal preferences and if this is an iteration or a completely new project.
Ideally you want to at least challenge your understanding of your product to validate that is worth spending your time on it. The number one validation I have personally is I prefer trying to determine the impact it will have on it users and if it’s the maximum impact I can deliver.
Other areas that can be validated
– customer acceptance, Are people going to understand it and use it ? Are people going to accept the product when you have it ready ?
– resource requirements, Do your have the financial and human resources to complete the project or can obtain them
– is it possible, Is there any potential blockers from it happening, technical, regulations or cultural ?
– competitors, Is there existing solutions to the problem that you can solve significantly better with your solution ?
– are you excited about the ideal, is this something you want to dedicate your life to ? Does it inspire you enough to last threw the difficult road ahead ? Does though though of success drive you to work better, smarter and harder ?
Put your best effort into trying to break your idea and building it back up to strip away the bad and leave the good. Doing this heads off Do this and your journey will be “smoother”.
After you collected a solid body of knowledge together it’s time to Strategize how you are going to build it and bring it to the market.