Every single founder out there quickly hears about the product-market fit. But many entrepreneurs go for years before thinking about another such "fit" that is pivotal in how well your market responds to your product. Let's talk about the Solution-Workflow Fit. As a software entrepreneur, it's easy to get caught up in the excitement of … Continue reading The SaaS Solution-Workflow Fit
Category: Problem Analysis
Properties of an Interesting Problem
Let's look at what makes a problem interesting enough to note it down in our search for the perfect business opportunity. Different people will define the word "problem" differently. I think that a "problem" is anything that stands in the way of people accomplishing their goals. If they feel some sort of pain you can … Continue reading Properties of an Interesting Problem
The Shape of a Problem in the Wild
The wonderful thing about humans is that they have a hundred different ways to talk about their dreams, desires, needs, and challenges. No two people will talk about their experiences the same way. Thankfully, we can group these messages into several easy-to-recognize categories while we observe our potential customers in their communities. Here's an important … Continue reading The Shape of a Problem in the Wild
The Myth of The Finished Product
Before the internet made transferring large amounts of data cheap and easy, software used to be distributed on CDs or DVDs. For any given application, there was the "Golden Master," a final version of the software, ready to be copied millions of times. These days are over. Every day, millions of software updates get dispatched. … Continue reading The Myth of The Finished Product
Problem Validation: Making Sure You’re Talking To The Right People
"Talk to your customers," they say, "because that's the only way to build something people want." The collective wisdom of the bootstrapper scene is not wrong. But talking to your customers is only half the truth. It's just as important to speak to the right kinds of customers as it is to ignore the rest. … Continue reading Problem Validation: Making Sure You’re Talking To The Right People
Finding the Most Painful Problem in a Market
When you're looking at a niche market, you will find many people having a large number of problems. However, people will only pay money for a tiny subset of those: the excruciating problems. You can solve many problems but still fail to build a business if you're solving the wrong ones. Your chances of success … Continue reading Finding the Most Painful Problem in a Market
The Power of the Niche
If you were to found a company that makes and sells beer today, you would probably start a craft brewery. You'd start a small operation, find the people who enjoy your product and slowly expand your business. You would not try to compete with Bud Light and Heinecken for shelf space. You would prefer to … Continue reading The Power of the Niche
Continuous Validation: Staying in Touch with Your Market
I first felt that we truly had a validated business when we had our very first yearly subscriber. That level of commitment for a young product such as FeedbackPanda two months into our existence showed us that people wanted what we made and were ready to put their money on it. However, validation is always … Continue reading Continuous Validation: Staying in Touch with Your Market
Finding the Critical Problem: How to Work on The Right Things
You start a new business that solves a problem. You create a unique solution to help your audience deal with a pain they're feeling. Yet the company fails to take off, even though you have a good solution and excellent marketing material. People don't want to pay for it. Why is that? I believe that … Continue reading Finding the Critical Problem: How to Work on The Right Things