Are you trying to find a profitable software product idea to start a solo tech company? Have you validated the idea is a true pain point for your customer? What's holding you back from talking to real customers?
I think the 1 thing that's missing here is looking at what solutions to the problem already exists. Most of my company's ideas aren't unique. We see existing solutions out there that are just not very good. We streamline them and compete directly with them. The nice thing about this is someone else has already validated that the market exists.
Competitive analysis is absolutely part of starting a company. This episode aims to avoid the (deadly) mistake of trying to create a unique idea for your first product without input from customers. If I got into that, it would be too long. I appreciate your feedback though, it's a great suggestion for a future episode! Thank you. 👍
These problems are easy to identify when talking to other startups or efficient businesses, they're harder when you're talking to large companies with completely disconnected employees.
Absolutely. I talked about this in one of the episodes linked to this one in the cards. I suggest people find a problem with a market that is nowhere near the complexity of their day job.
It's a shame you didn't tell the story of the companies that didn't work for you. You did state your point, of course. It's just that could add some color to the story
For sure. I've talked about them in earlier episodes, but I wanted to keep this one actionable and clear since it does have a lot for someone new to this topic to take in. Appreciate the suggestion!
In general it's a good piece of advice. Maybe it's not so streamlined as described. Anyway, a general principle is to understand what problems customer is facing. And try to come with solutions for them. And this is a "must have".
Thanks for the video. You mentioned having talked about your failed businesses or perhaps your successful ones in earlier videos. Can you please direct us to those videos?
I have over 160 videos so it's hard to find all the occurrences, sorry! I do remember for sure talking about it in the 3 videos where I shared my story (up to 7 years ago). These are really long episodes from way back. ruclips.net/video/3E1mu9aMBFs/видео.html&pp=gAQBiAQB ruclips.net/video/qoG1rk6FuNs/видео.html&pp=gAQBiAQB
Not true, scientific software for physics, biology, chemistry, engineering research is a HUUUUUUGE and barely explored area by corporations. Sure, there are a few popular ones: Matlab, Mathematica, Maple, etc., but there is still a TON of things that can be done beyond business!
Yes this approach may give you some software needs that you could exploit but the really great ideeas are the things that not even the customers know or realize that would be necessary. Mobile phones for example, the first queries about them in US gave something like a 3% probability of buying, simply because people had a hard time imagining what they can be used for.. or so the story goes. The same thing happened with the computer GUI and mouse, they were invented by HP but put in practice by Microsoft and Apple.
You don't need to invent the iPhone to have a profitable business. I'm trying to help people who want to quit their day job and find some freedom from the tech grind as an employee. While you are correct that bigger, more profitable ideas arose this way, it's absolutely not necessary to stop being an employee. Hope that makes sense.
Oh well, lists of consecutive prime numbers of arbitrary length, not pseudo-primes, actually exhaustively factorised primes ain't worth knowing then, Oh well, no problem!
This is an insight i didn't hear it from anyone before This explain why programmers fails most of the time when making products But is this actually true 100% i mean customer are not always true and while we don't know nothing about their requirements trying to guess it they also don't know nothing about the capabilities of programmers and programmers might know better solutions for their problems
Yes, you have to be careful that you don't lead yourself down the wrong path with your product or service idea, but many times I've also been led down the garden path by those businesses I've asked for input. As negotiator Chris Voss puts it, you always have to ask who else has input, as there are often others in the decision making process that can sink what looks like a sure thing. You might be talking to people who have a real problem or need that requires a solution, but higher ups, have other requirements or motivations and the final say on whether money would ever be spent on just such a thing. So perhaps a smart question to ask first up is, why has no money or resources already been allocated to solving it.
I have some ideas for software, with millions of people who have similar problems. The problem is I have zero knowledge and understanding of how and where to start...
You should watch the video. From what you're saying, it sounds like you're still operating under the assumption that your idea is where you should start. It can help you look at this problem another way.
Are you trying to find a profitable software product idea to start a solo tech company? Have you validated the idea is a true pain point for your customer? What's holding you back from talking to real customers?
I think the 1 thing that's missing here is looking at what solutions to the problem already exists.
Most of my company's ideas aren't unique. We see existing solutions out there that are just not very good. We streamline them and compete directly with them. The nice thing about this is someone else has already validated that the market exists.
Competitive analysis is absolutely part of starting a company. This episode aims to avoid the (deadly) mistake of trying to create a unique idea for your first product without input from customers. If I got into that, it would be too long. I appreciate your feedback though, it's a great suggestion for a future episode! Thank you. 👍
It has to pass "The Mom Test" "How to talk to customers & learn if your business is a good idea when everyone is lying to you."
These problems are easy to identify when talking to other startups or efficient businesses, they're harder when you're talking to large companies with completely disconnected employees.
Absolutely. I talked about this in one of the episodes linked to this one in the cards. I suggest people find a problem with a market that is nowhere near the complexity of their day job.
The secret: let the guitar tell you whether your ideas are profitable. If a sour note occurs, it's not a profitable idea.
🤣🤣🤣
Great content. This is exactly the situation I'm in - speaking and chatting with people before I write a single line of code.
Wow this is incredibly valuable information, thank you for making this!
You're very welcome! I was really thrilled when I stumbled on Dane's approach to interviewing potential customers 6 years ago.
That was one of the best videos we'll see on RUclips.
Seemingly simple but often overlooked basics. Thank you for sharing! Reminds a bit of "Start with Why" by Simon Sinek - plus some actionable points.
He’s great! I’ve learned an incredible amount from him.
Thank you for your advices! Your videos are awesome!
It's a shame you didn't tell the story of the companies that didn't work for you. You did state your point, of course. It's just that could add some color to the story
For sure. I've talked about them in earlier episodes, but I wanted to keep this one actionable and clear since it does have a lot for someone new to this topic to take in. Appreciate the suggestion!
Design thinking is also a great framework for exploring problems and coming up with customer/user-centric solutions.
Good advice! Thanks for sharing.
Another banger from Mr. Edwards
Good vid. Thx
In general it's a good piece of advice. Maybe it's not so streamlined as described. Anyway, a general principle is to understand what problems customer is facing. And try to come with solutions for them.
And this is a "must have".
Thanks for the video. You mentioned having talked about your failed businesses or perhaps your successful ones in earlier videos. Can you please direct us to those videos?
I have over 160 videos so it's hard to find all the occurrences, sorry!
I do remember for sure talking about it in the 3 videos where I shared my story (up to 7 years ago). These are really long episodes from way back.
ruclips.net/video/3E1mu9aMBFs/видео.html&pp=gAQBiAQB
ruclips.net/video/qoG1rk6FuNs/видео.html&pp=gAQBiAQB
TLDR; do your market research and establish your idea's viability before writing a single line of code.
Solid!
Of course my idea is wrong. What else is new?
Jonathan Blow was right about web development.
?
Other than computer research, all software engineers are writing business scripts.
Not true, scientific software for physics, biology, chemistry, engineering research is a HUUUUUUGE and barely explored area by corporations. Sure, there are a few popular ones: Matlab, Mathematica, Maple, etc., but there is still a TON of things that can be done beyond business!
Yes this approach may give you some software needs that you could exploit but the really great ideeas are the things that not even the customers know or realize that would be necessary. Mobile phones for example, the first queries about them in US gave something like a 3% probability of buying, simply because people had a hard time imagining what they can be used for.. or so the story goes. The same thing happened with the computer GUI and mouse, they were invented by HP but put in practice by Microsoft and Apple.
You don't need to invent the iPhone to have a profitable business. I'm trying to help people who want to quit their day job and find some freedom from the tech grind as an employee. While you are correct that bigger, more profitable ideas arose this way, it's absolutely not necessary to stop being an employee. Hope that makes sense.
Or just live in a poor technologicaly country, get ideas from solution that exist in the USA and Europe and bring them to that country as unique 😅
@ThrivingTechnologist did anyone told you that you look like a younger brother of Bret Weinstein????
I've been told I look like all manner of other people since starting the channel. Can't say I remember him specifically.
@@HealthyDev and you look very handsome whoever they dare to compare you with
🙏🙏🙏
Oh well, lists of consecutive prime numbers of arbitrary length, not pseudo-primes, actually exhaustively factorised primes ain't worth knowing then, Oh well, no problem!
This is an insight i didn't hear it from anyone before
This explain why programmers fails most of the time when making products
But is this actually true 100% i mean customer are not always true and while we don't know nothing about their requirements trying to guess it they also don't know nothing about the capabilities of programmers and programmers might know better solutions for their problems
Yes, you have to be careful that you don't lead yourself down the wrong path with your product or service idea, but many times I've also been led down the garden path by those businesses I've asked for input. As negotiator Chris Voss puts it, you always have to ask who else has input, as there are often others in the decision making process that can sink what looks like a sure thing. You might be talking to people who have a real problem or need that requires a solution, but higher ups, have other requirements or motivations and the final say on whether money would ever be spent on just such a thing. So perhaps a smart question to ask first up is, why has no money or resources already been allocated to solving it.
This is exactly what I needed to hear, exactly when I needed to hear it, from exactly the person I needed to hear it from. Thanks Jayme!
You're so welcome. Hope your efforts are going in the right direction!
Henry Ford: if I had asked people what they wanted, they would have asked for a faster horse.
great insight
I need money.
I have some ideas for software, with millions of people who have similar problems. The problem is I have zero knowledge and understanding of how and where to start...
You should watch the video. From what you're saying, it sounds like you're still operating under the assumption that your idea is where you should start. It can help you look at this problem another way.