#14. How to validate your product idea, & avoid creating a ‘money pit’ that destroys your life!
Description
Season 2: 'Product development', Episode 2
A good business idea or new product/Service is just the start. In this episode Product Design experts & leading entrepreneurs reveal how to validate your idea - & avoid problems.
Guest Bios:
Ross Gales Rob Newman (https://www.linkedin.com/in/rossgales/) is Director of Design & Strategy at leading product design agency Pollen. (https://pollen.com.au).
Carrie Peters (https://www.linkedin.com/in/carriepeters/) is Product Design Principal at product design agency Us Two. (https://www.ustwo.com.au/)
Mina Radhakrishnan is founder & CEO of 'proptech' platform Different.com.au (https://www.linkedin.com/in/minarad/) and has worked for Google & Uber.
Sven Almenning (https://www.linkedin.com/in/sven-almenning-a8554b20/) is founder & CEO of the Speakeasy Group, a leading Australian hospitality group. (https://speakeasygroup.com.au/)
Dr Wei Shin Lei (https://www.linkedin.com/in/weishinlai/)& Jason Wolfe are the founders of Acoustic Sheep, the manufacturing company of Sleepphones (https://www.sleepphones.com/).
What to listen out for:
1.55 The story of the E.T video game product fail
10.45 Definition of product validation
13.01 The three lenses of validation: usability, desirability, feasibility
16.42 Minimum marketable product (MMP) vs Minimum viable product (MVP)
19.12 The principle of 'inclusive design'
22.37 How to validate a product idea just using Facebook ads
25.59 The 'f*ck yeah' approach to product validation
30.32 FEATURE STORY: Sleepphones product validation & ideation
42.52 NERD UNDER PRESSURE - regular segment with Mina Radhakrishnan
Resources & links:
- E.T video game story https://www.npr.org/2017/05/31/530235165/total-failure-the-worlds-worst-video-game
- https://en.wikipedia.org/wiki/E.T._the_Extra-Terrestrial_(video_game)
- Minimum viable product (MVP) https://en.wikipedia.org/wiki/Minimum_viable_product
- The Lean Start Up book http://theleanstartup.com/principles
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