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How do I Know Which Product to Make? (FS329)

How do we figure out what we should make in our business? How can we tell if that product is going to be viable and profitable? 

What are the main things to consider in this stage of your business journey, where you need to make some big leaps?

Going from the planning stages into production and actual business is obviously scary, it can also be massively exciting and really is the first time you get to share your work with the world. That being said, care and caution must be taken when putting yourself out there, more so in aid of building towards the future than protecting your ego.

In this episode we situate this topic in the larger series that we have been running about your business roadmap. We talk about how this section of work is the meaty and juicy centre of your business; after planning and before everything else. We discuss essentials such as minimal viable products, feedback and criticism and the factors that go into big decisions.

We also talk about how to really approach solving a problem for people and how a service can be a great way to enter a market and build towards more products in the future. So for all that, be sure to join us on the Fizzle Show! 

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Key Points From This Episode:

  • How the idea of product creation fits into the larger business roadmap. [0:05:01.5]
  • Giving people a solution and finding revenue through that. [0:10:45.3]
  • Sniff tests and product validation before going to market. [0:13:41.7]
  • MVP’s, feedback and getting fresh inspiration from customers. [0:17:49.1]
  • Self-created bubbles and playing at business rather than real work. [0:26:15.6]
  • Understanding criticisms and pulling out the value amid the thorns. [0:34:02.3]
  • Job descriptions, fulfilling duties and wearing the necessary hats. [0:37:34.8]
  • Becoming a scientist in your business and acknowledging the data. [0:42:51.5]
  • Your product as the package that contains a solution to a problem. [0:45:11.3]
  • Coming up with actual product ideas and attaching these to a need. [0:50:13.2]
  • Using a service as the entry point and early MVP for your products. [0:53:35.8]
  • Recapping the importance of emotional stoicism and attrition. [0:58:21.4]
  • And much more!

Links Mentioned in Today’s Episode:

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