How to guarantee your product idea/ feature sells
There is an established way to increase the odds market significantly for a product - proven over and over again.1
However, when AI builds your products, a new approach opens up - the winning way.
You will read it here first, as no one talks about it, yet.
Reading time is 5 min.
The New Way of Finding Product Market Fit ???
The established way
… has been proven over and over again to be a good guideline. There is of course much more to it, and you might have a different sequence in mind - that is ok.
At its core, it involves the following steps:
1. Identify a Problem or Need (avg. 1-2 weeks)
Focus on real pain points or desires in the market.
2. Market Research (avg. 2-4 weeks)
Analyze competitors and the market landscape. Understand who your potential customers are, what they currently use, and what gaps exist.
3. Validate the Idea (avg. 3-6 weeks)
Use tools like surveys, interviews, and A/B testing to gather feedback from potential customers. Validate through Crowdfunding.
For strong signals, build MVPs (Minimum Viable Products) and measure the response. → this eats time
4. Develop a Unique Value Proposition (avg. 1-2 weeks)
Clearly define why your product is better than alternatives. This UVP should resonate with your target audience.
5. Iterative Testing and Refinement (avg. 4-8 weeks)
Build and launch in stages. Use early adopters to gather insights and iterate based on feedback.
6, Build a Go-to-Market Strategy (avg. 3-5 weeks)
Develop a clear plan on how to reach your target audience, including pricing, channels, marketing, and sales strategies. Consider partnerships that can boost credibility.
7. Monitor and Adapt (avg. 2-4 weeks, and ongoing)
After launch, track sales, customer feedback, and market trends. Be prepared to pivot or enhance the product based on real-world data.
Total estimated average time: 16-31 weeks for an average software tool.
This proven approach will change due to the ability to build full software products in sheer hours.
The winning way - faster and with stronger signals
How to guarantee your product idea or feature sells in the AI era!
First, here's a little-known fact: AI can build software MVPs in under 2 hours.
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We are teaching it. Next week, the doors for batch 1 are open!
If you can build an MVP in, say, 1 hour, the approach to finding product market fit shifts significantly.
The speed of MVP creation allows for rapid testing, feedback loops, and iteration.
1. Hyper-Focused Problem Identification (avg. 1-2 days)
You can quickly test multiple ideas. Focus on identifying and validating the most pressing problems through quick customer interaction.
The result should be a pre-filtered list (impact vs. feasibility) with multiple points. You can build en masse now!
2. Rapid Market Research (avg. 1-2 days)
Perform competitor analysis and market validation using tools like online forums, social media, and Google Trends. The goal is to quickly identify gaps and opportunities.
You don’t want to spend too much time at this stage, as you consider multiple software solutions.
3. Immediate Idea Validation (avg. 1-3 days)
With a 1-hour MVP, you can create and test multiple versions in a single day. Deploy them to a small audience through social media ads, landing pages, or email campaigns. Use real-time analytics to gauge interest.
(Btw. we not only teach software development but also measurement of user analytics via tracking pixels.)
4. Accelerated UVP Development (avg. 1 day)
Quickly refine your UVP based on the feedback.....
Read the full newsletter episode here:
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That’s a wrap! I hope you enjoyed it.
I continue letting AI build my mobile app - a personalized task manager for the day.
Martin
1? And many books written on this topic. Here are the ones I read and did recommend at some time, but not anymore ??: Here’s the list of books on product-market fit: The Lean Startup by Eric Ries, The Lean Product Playbook by Dan Olsen, The Four Steps to the Epiphany by Steve Blank. And of course, there are much more.