This Business News Story Was Uncovered By Us From: http://www.youngupstarts.com/2020/05/21/why-you-should-be-doing-product-discovery/
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by Nick Frandsen, co-founder and managing partner at Dovetail
So you’ve just had a lightbulb moment and stumbled across the perfect business idea, one that is going to revolutionise the world and disrupt the market. “It’s genius! It’s the next thing!” you say.
You envision your business as the next Uber or Spotify, yourself as the next Steve Jobs or Elon Musk, reaching that prestigious ‘unicorn’ startup status in record time.
Like most entrepreneurs, you’ve probably mapped out the business plan, dreamed up the layout and you’re already snapping up domains and emailing developers with your plan.
Wait a minute… Stop right there!
We get it, you have passion, vision, a dream and heightened energy levels thriving off the buzz of your discovery, and while we promise we’re not here to be a buzzkill, we do want to tether you a bit from flying off into the clouds and get you a little more grounded with reality, purely for the purpose of helping you cover all your bases so you can deliver a truly exceptional, well researched and consumer-ready product.
Before rushing to build your concept to push out to consumers, it’s important to first undertake product discovery.
Product discovery is the purpose of identifying the smallest amount of software needed to determine market value. Notably, this occurs prior to building the Minimum Viable Product, or ‘MVP’.
If you’re familiar with common startup terms, you would recognise the term MVP and know that this is considered the best solution for validating your idea, by creating a working prototype of your product to deliver to users. However, there is a wealth of information and knowledge that should be gained ahead of developing the MVP, which is known as product disc… Read More
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