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How to decide which product is the right one to build

focus on not wasting your time

  • Research current state of the market (alternatives, opportunities, ...)
  • Have a marketing strategy (social media, advertisement, mailing list, ...)
  • Build MVP (minimum viable product)
  • Field test it
  • Evaluate?
    • yes -> Develop full product
    • no -> move on to the next idea

What is your goal with this product?

  1. Scretch your own itch
  2. Create a long term Business
  3. Grow just enough to be bought by a big company

1. Scretch your own itch

  • comfort zone
  • how to make money?

iWoz: Computer Geek to Cult Icon: How I Invented the Personal Computer... https://www.goodreads.com/book/show/798635.iWoz

  • Everybody wants to build the new Apple
  • is that possible?
  • How have it all started?

2. Create a long term Business

  • it is more focused market
  • how to keep motivation?

One Click: Jeff Bezos and the Rise of Amazon.com https://www.goodreads.com/book/show/11223478-one-click

  • why did Jeff Bezos selected books?

3. Grow just enough to be bought by a big company

  • dont worry about revenue
  • might fail if you dont get acquired

zero to one: Notes on Startups, or How to Build the Future https://www.goodreads.com/book/show/18050143-zero-to-one

  • one of the founders of paypal
  • focusing on how to build a monopoly
  • is that necessary?
  • how large must be your market for monopoly?

WHEN YOU HAVE AN IDEA, TAKE ACTION ON IT.

even if you fail, you are far ahead of everyone who didn't.

Other recommendations

Pat Flynn - Will It Fly?: How to Test Your Next Business Idea So You Don't Waste Your Time and Money https://www.goodreads.com/book/show/28678036-will-it-fly

  • "Speed is only useful if you’re running in the right direction."
  • not focused on tech
  • He has some practical ideas on how to build your product

37 signals - Getting Real: The Smarter, Faster, Easier Way to Build a Web Application https://www.goodreads.com/book/show/447648.Getting_Real

  • It focus on "fail fast".
  • that means how to quickly build an mvp, get it to market and test how viable it is.

Michael T. Nygard - Release It!: Design and Deploy Production-Ready Software https://www.goodreads.com/book/show/1069827.Release_It_

  • not about selecting a product, but about how to release it asap
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