How to Identify New Product Ideas

Episode 264 | How to Identify New Product Ideas
Date: 2015-11-24
Link: Startups for the Rest of Us
 
Startups for the Rest of UsDon’t prematurely invalidate ideas. By doing that you are not only crossing that idea off the list but every potential variation of that idea of the list.
Start by considering specific market verticals or people to server.
Put your ideas in a notebook and save them.
If you have a lot of ideas it doesn’t necessarily mean that any of them are good.
Things that require virality–if you’re going to bootstrap it you’re looking at a longshot.
Competing against free can be somewhat difficult.
You need to ask people upfront, “what are the deal breakers?”
Validation is hard and it is not an exact science.
You don’t want your optimism to overpower warning signs.
It is a balancing act.
Like anything else it is a learned skill.