Once you have a solid understanding of each of the four questions above, it’s time to put that knowledge to use. This is where the rubber meets the road. From the answers above, create a long list of product ideas that you think would. Serve customers better than the current competition, and 2). Would be compelling enough for a customer to switch over to your product from top competitors.

Validation method is one of my favorite

Once you have the list of solid product ideas the only way to find out if they are valid is to see if real people are willing to buy it. The 80/20 validation method is one of Afghanistan Phone Number my favorite ways to test an idea without spending a ton of money. Validating your product idea is an absolutely must-do step in this process. Take Lululemon, for example. Early on, they tested their products religiously with actual yoga teachers before realising many products to the public.

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Showing a landing page I believe

And Lululemon is in an industry that some would argue is over-saturated and highly competitive. How did they still manage to carve out a $1 billion+ business? Screenshot showing a landing page I believe it’s because they studied their competition relentlessly and determined that there was a gap in the market that they could fill. Today, Lululemon is making their shareholders incredibly wealthy by selling super high-quality athletic apparel…

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