Large companies often identify an opportunity, create a solution based on an unproven assumption, and ship it without validating market demand. This leads to costly failures when the product doesn't solve a real user need, wasting millions of dollars and significant time.
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Artist's co-founder warns that the biggest mistake founders make is building technology too early. Her team validated their text-based learning concept by manually texting early users, confirming the core hypothesis and user engagement before committing significant engineering resources.
The goal of early validation is not to confirm your genius, but to risk being proven wrong before committing resources. Negative feedback is a valuable outcome that prevents building the wrong product. It often reveals that the real opportunity is "a degree to the left" of the original idea.
Some business ideas, like a "what's on campus" app or a universal group organizing tool, seem obvious yet consistently fail. These are "mirage opportunities" where a fundamental assumption about user behavior is flawed. If many have tried and failed, it's a signal to stay away.
Validate business ideas by creating a fake prototype or wireframe and selling it to customers first. This confirms demand and secures revenue before you invest time and money into development, which the speaker identifies as the hardest part of validation.
Pursuing large "whale" customers for early validation is risky because they often come with heavy demands that can derail the product vision. Instead, seek out innovative, mid-level companies who are early adopters. They provide better feedback, and building traction with them opens doors to larger clients later.
Don't treat validation as a one-off task before development. The most successful products maintain a constant feedback loop with users to adapt to changing needs, regulations, and tastes. The worst mistake is to stop listening after the initial launch, as businesses that fail to adapt ultimately fail.
In AI, low prototyping costs and customer uncertainty make the traditional research-first PM model obsolete. The new approach is to build a prototype quickly, show it to customers to discover possibilities, and then iterate based on their reactions, effectively building the solution before the problem is fully defined.
Validate market demand by securing payment from customers before investing significant resources in building anything. This applies to software, hardware, and services, completely eliminating the risk of creating something nobody wants to buy.
The misconception that discovery slows down delivery is dangerous. Like stretching before a race prevents injury, proper, time-boxed discovery prevents building the wrong thing. This avoids costly code rewrites and iterative launches that miss the mark, ultimately speeding up the delivery of a successful product.
