Ideas are the currency of the 21st century but they are nothing without execution. That’s what today’s conversation is all about – coming up with great ideas and matching them to the needs of customer – or to use the start-up jargon, getting product market fit.
To get product market fit it makes sense that the people building the product have the skills needed to meet the demands of the customers in the market they’re serving.
That’s why in the early stages of the team building process, Entrepreneur First encourages something called edge based ideation, which is coming up with ideas based on your own personal competitive advantage. So if you’re a machine learning expert, don’t build a dating app, build something only you can build.
In today’s episode we discuss:
– The frameworks and techniques you can use to come up with great ideas
– Strategies for talking to customers in a way that gives you valuable insight
– How to prove traction with limited data in the early stages of a startup
Plus, we also talk about the worst ideas the founders came up with and how they settled on their current ideas.