How to Validate Your New Product |
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- เผยแพร่เมื่อ 7 มิ.ย. 2024
- 🎁Click here to access the tool: growth.productleague.com/Prod... ✈This resource will streamline your product validation efforts, ensuring you gather meaningful insights and drive your product's success 🔥
Product League presents a webinar on Product Ideas Validation in Startups and Early-stage Products, featuring Guy Amrany, a Product League mentor. In just 15 minutes, Guy will equip you with practical strategies and insider tips to navigate this crucial phase with ease.
After an insightful talk with Guy Amrany, the session doesn't end there. We're thrilled to announce that we're extending the webinar with an additional 45 minutes of active, live Q&A in the chat. That's right - a full hour dedicated to answering your questions and addressing any concerns you may have.
Discover how to validate your product ideas effectively and avoid costly mistakes. Guy will share his wealth of experience, real-world examples, and step-by-step methodologies that will empower you to make informed decisions and focus on what truly matters.
🚀 But that's not all! As a bonus for attending, you'll receive access to a special tool designed specifically for webinar viewers. This resource will streamline your product validation efforts, ensuring you gather meaningful insights and drive your product's success.
Don't miss out on this incredible opportunity to learn from the best in the business and gain practical knowledge that will set you up for success. Mark your calendars and join us for this information-packed webinar on Product Ideas Validation in Startups and Early-stage Products. - วิทยาศาสตร์และเทคโนโลยี
🎁Click here to access the tool: growth.productleague.com/Product-Validation-Tool ✈This resource will streamline your product validation efforts, ensuring you gather meaningful insights and drive your product's success 🔥
I'm making myself an EXTRA LARGE cup of coffee for this... ☕
Product coffee to boost product validation! Oh, yeah, Guy!
Hi, Leaguers! I'm eagerly anticipating reading your questions and seeing Guy Amrany's answers. Bring it on! 😎
Hi! When it comes to testing product ideas, what lessons should early-stage startups remember? Any insights you can share?
Thank you, Guy! I completely agree with the need to test and be "product aware". But... when developing a product, how do you strike a balance between moving quickly and making sure you're testing it thoroughly? I can already imagine our CEO saying we have no time to "over-think" this :(
What do you think?
This is a great question! Thank you for asking it
Elicia, that’s a great question!
One of the major dilemmas in launching new ventures is always around how to balance between the required speed for quick delivery vs. the need to validate WELL before moving forward.
Each startup has its own pace and required intensity of validation e.g. Deep tech would not necessarily require quick wins and direct business value.
There is no one plug number for assessing how much is “enough” validation to move forward. What is crucial is to be able to answer enough questions tightly to move forward without risking our funding on building the wrong product that will eventually bankrupt us.
I would say that as Product managers we should push our management to invest meaningful resources, time and manpower to fully execute this process so we’ll be able to say we are secure in our direction, at least for the current phase.
If multiple stakeholders will take part of this process and if the PM will raise questions that will show how much we don’t know yet, there’s a good chance we’ll be able to allocate more resources to that project.
@@GuyamranySamsung I think you are right. The right approach here is to involve C-level staff in the process in order to make them invested. I really appreciate your help!
Your video quality is very nice👌👌
Thank you so much 🚀
Hey there! I'm curious, how important is market research when testing a product idea for a startup? And hey, do you have any tips on how to gather information about the market?
We can't wait to see the answers!
Benny, thank you
This one is a classic.
Market research lives both in the Problem-solution fit phase, as it quantified and monetizes the problem and the opportunity and points to the target market we should essentially start talking with to further validate.
It also lives in the PMF and BMF phases as we want to differentiate/sharpen our value proposition and business model.
Market research is percepted as the phase where we review open source research of web materials and through dedicated apps vs. the interviews and programmatic validation which are different methods.
As such, market research touches the “big numbers” and allows us to validate and present internally the opportunity and to get endless ideas on where to drill down, but it will not validate for us most of the answers on the specific issues related to the problem, the user, the current/required flows etc.
Those can be retrieved by interviews and through other non-direct validation methods.
Tip - Don’t waste too much time trying to find the exact TAM/PAM/SAM/SOM numbers of the market, the accuracy is not critical, the scales are.
Meaning, if a market is sized between $20B-$35B in revenue from different sources, go with the average and move on, do not try to find the exact number, as it will make no difference to investors and internal stakeholders. They want to know if there is potential Yes or No. Is it in M(illions) or B(illions).
@@GuyamranySamsung This is gold: "Tip - Don’t waste too much time trying to find the exact TAM/PAM/SAM/SOM numbers of the market, the accuracy is not critical, the scales are."
@@GuyamranySamsung Neat, I'll try it soon!
Hey, can you share a cool example of when you successfully tested a product in the past? I'm talking about the steps you took and what the results were
This is a great question! Thank you!
Yes sure,
I tested a product (before launch) by creating a “Smoke test” == developed a full web landing page that presented the complete product vision (Intro, value prop, features, screenshots, brands list, integrations and CTA buttons all over the flow).
We advertised the landing pages in 2-3 platforms, recorded the results and understood endless insights about the audiences that reached us, locales, ad sets performance, wording and keyword choices, costs and more.
With an investment of few K USD we were able to validate that the product does have some interest in it, but it does not convert very easily, so we knew we may be going to a SLG model (Sales-led growth) if results won’t change in the next, optimized next attempt.
@@GuyamranySamsung Thank you for this thoughtful yet so realistic reply!
@@GuyamranySamsung Very cool! Thank you!
Hey Moira - this is awesome. Where is the link to the template? I am not able to see it in the description.
Our very own Fia is here :) Click here: growth.productleague.com/Product-Validation-Tool
Fia Gosling is in the League house! How've you been?
@@Moriya_from_Product_League I've missed you guys! So excited to join the next cohort.
I don't see the link to download the tool.
Hi! Please access the tool here: growth.productleague.com/Product-Validation-Tool
Emails from Product League are not reflected in the inbox (not even in the SPAM folder either). Can you please share the link here?
Hi! Thank you for your message! This is strange -- our team is contacting you right now 🧡