These 3 Simple Questions Will Validate Your Product Ideas

The people with the greatest ideas always share a common trait. They tend to start things but never end them. There are exceptions, though! We call them "Entrepreneurs." If you are an innovator, chances are that there are a countless number of ideas that come to your mind and disappear the next day, if not the same day. I try to write them down. But it's not a good idea to start anything and everything just because you think it will mean something for the world. Don't say "Yes" to every single idea that pops into your head. But, hey! Never say "No" to the ones that you believe would bring you success. Before you spend money into it, ask yourself these questions. These simple questions will answer whether it's a good product to start with or not:

1) Will this product fill a gap?

Will the product you're planning to bring into the market will fill a gap or add some real value to the existing system in the market? If your product doesn't offer a viable solution to an existing problem or improve the way people use similar products, your arrival won't matter, not even a bit! Don't be too creative! As an innovator, a product may seem perfect to you, but it may not help any real customer solve a problem. Which means, there may not have any real market for the product. Without a market, a product is destined to fail. Take my words for it. I'd suggest that you ask the real users of the existing products what they think should be changed about the products. When you get the answers, note them down!

2) Is there a niche for the product?

Assuming that you are not a big fish in the sea. If your market is too large! Chances are that you can't survive for too long fighting with the giant fishes in terms of capital and strategy. "Red ocean" strategy is not the right option for startups. Try "blue ocean," instead! Find a niche for your product. To be more accurate, try to develop a product that has a sub-segment waiting for a solution to a very precise problem. Once you succeed in your niche, there are always opportunities for you to expand your market in other segments. It's much easier for a successful product to enter a new market than for a failed product to sustain.

3) If you were a customer, would you use the product?

A simple "Yes" may not the answer you're looking for! Iterate your products or services as many times as it takes to make certain that your users will fall in love with the product. Make it too good not to use it! Make it obsessive, addictive, irresistible! It's an entrepreneur's job to walk in the shoes of his or her potential customers. Ask yourself "If I was X, would I fall in love with the product?" or "If I was Y, what would I need to be changed about the existing product?" A good product doesn't always hit your luck with just one shot. It takes iterations. A lot of them. 

This article has also been publish on my blog: 3 Questions to Validate Your Product Ideas