The few product ideas we came up with following the above process we dropped, often because we discovered that that space is ultra crowded or commooditized. GoDaddy founder Bob Parsons once said something like (paraphrased slightly) "never be scared to enter a crowded market. Just be better than everybody else". Something to think about. Beyond that, consider that your product is not the only dimension on which you c…
If you as an entrepreneur feel that the market is too crowded or commoditized, though, that's a very good signal not to enter it. Not because it actually is too crowded, but because you don't know it well enough to come up with a unique differentiator that will resonate with people actually in that market. When you stumble across an idea that's actually viable, it feels like "Oh, why has nobody else done this yet? I…
I’m sure there’s something in their diverse backgrounds that intersect in a way that solves a critical problem. For me, the thing that’s missing in their process is actually building a prototype and getting in front of a user to validate what they think they know.