Wednesday, November 16th, 2016
Test your Product Concept is the third phase of The Customer Discovery Process.
3.- Test your product concept: Once you have a deeper understanding of the customer problem, test your product idea to get a sense of the relevance and attractiveness of your product solution and its features. Do this by engaging potential customers and sharing information with your product development team.
Testing and qualifying your product concept is something you do once you have reached a solid understanding of your customer’s problem, their business, and the space in which they operate. At this point, you can apply these insights to your product hypotheses to understand to what extent your plans for a product solution are headed in the right direction.
This phase involves taking the feedback you’ve gathered and sharing it with your product development team: Is your product concept close enough so that minor changes will make it a great fit for this market? Are the required changes so fundamental that you would prefer to search for a different market?
If your product is a partial fit for the customers’ problems, the answer might be to reconsider certain product features.
Once you’ve made this decision, you will need to create a new product presentation that reflects your changes. The new presentation will enable you to ask your customers to review and validate the customer problem you are solving and to test your new product specifications. This product presentation should be customer-oriented: it must present the problem and your solutions from the perspective of the customer.
At this point of the customer discovery process, you also need to consider your minimum viable product (MVP). Your MVP is the minimum product for which you believe you can start charging, with the least amount of invested development.
Summing-up: The “minimum viable” idea is key for early-stage businesses as timing as well as time spent are essential elements to a startup’s success. And entrepreneurs should not invest in developing product features without knowing that someone is willing to pay for them.