Because innovators focus too much on the (technical) feasibility of the idea.The marketability often turns out only after the development.
How will my product or service be accepted by the market?
Do a reality check! Be an entrepreneur. Structure and test your ideas. Make sure that „Your project“, in which you put your full energy, is wanted by customers and users, and at the end is profitable and scalable. Understand your project as startup.
The definition of Eric Ries, author of „The Lean Startup“ describes the task of Entrepreneurs like this: „The concept of entrepreneurship includes anyone who works within my definition of a startup: a human institution designed to create new products and services under conditions of extreme uncertainty“. This definition also includes existing companies, whether large or small. To act as an entrepreneur in this sense you need simple structures to deal with the uncertainties inherent in a start-up project and can still maintain necessary creativity and to speak a common language in a team. Reach the all-important product-market fit without a large investment. These Lean Startup methodologies help the case:
Value Proposition Canvas
After Alexander Osterwalder. Answers the question: „How to create value for customers and users?“ With the value proposition Canvas, observed customer problems or needs are graphically structured on one page and are aligned with your products and services.
Business Model Canvas
After Alexander Osterwalder. Answers the question: „How is value created for me / my company“. With the Business Model Canvas the most important elements of a business model are structured graphically on a page.
Validate hypotheses and achieve product-market fit
With the value proposition canvas and the Business Model Canvas hypotheses are documented. These methods are particularly good, to verify or adjust the assumptions in a continuous process. The aim is to give within a short time frame simplest „prototypes“ in the hands of customers and users.
Challenge and practice the concepts in a Lean Startup Workshop for Entrepreneurs and Manager: realitycheck.hitchensen.com