Entrepreneurs, gear up - we are exploring

Good thing your exploration gear is light. You’ll only need the right people, concepts, patience, and strategy, and you’re good to go. 

Where are we going with all that, you might be asking? On a trip that’s more expensive to miss than to take. Bear with me on this one.

Dive right into the Exploration phase of your idea

Consider it a pre-journey prayer moment, a mantra, or just a simple yet mandatory thing to ask yourself.

What problem does my product solve and for whom?

You may or may not have a response in this brief second but let me help you through.

In which category of the following would your idea fall?

1. Problem-centered products - they tackle and aim to resolve a specific and real need of the audience.

2. Benefit-centered products - they may not necessarily be constructed around a massive issue - but bring to the table more ease and pleasure to everyday life.

The products with the highest success rate are the ones that respond to a real problem.

To make room for yourself in that category of successful products, you need to define your problem statement well before you start jumping to solutions and any other conclusions. 

Later on the road, in the next article of this series, we’ll bump into the Market Research phase. And that’s just as important as this one, let’s use the patience we’ve packed for this trip. 

What are the essentials in Understanding the Problem? 

That’s a capital P right there, and for a good reason. Without a loud and clear Problem Statement, your product is doomed to fail, regardless of how good your idea is. 

Sorry to break it off to you like that, but I mean no harm. 

If the ‘why’ isn’t clear - why should they care?

Everybody’s well aware of the existence of problems. Even more so, everybody’s a pro at ignoring a lot of them.

Until when? Until it hurts too much that it cannot be ignored. 

A product-minded person with an entrepreneurial kick could translate the moment that hurts too much as a specific moment in time to address a specific problem of a specific audience. In short, an opportunity to create a product with viable chances of being embraced.

Still not sure if this is the best time to address the problem you're trying to solve? Think about these questions:

What will happen if the problem is not solved?

Who will feel the consequences? Are they directly affected or indirectly? 

Is there a butterfly effect to this issue?

We'll discuss the ethics around product development in a future article.

Actively unfold the story of your problem

Go as specific as possible and ask yourself clear questions that trace your problem of interest back to its roots so you can sharpen the vision for its future.

Where and when did it arise?

Who is dealing with the problem currently?

What has been tried around this problem until this point?

Research it all but don’t stop there.

Go for even more in-depth on those matters in your search to understand:

1. Where and when did it arise?

• How painful is this problem currently?

2. Who is dealing with the problem currently?

• What are the characteristics of those who feel this problem?

3. What has been tried around this problem until this point?

• What’s mainstream about the problem?

Your research questions will bring to the table insightful and consolidating information for your product and motivation. Your initiative has the power to drive a wider understanding of the specific topic you choose and bring benefits to people’s daily lives. 

In our next article: Validate your assumptions regarding the problem with your target audience

Explore the market research phase to understand your target market and how they perceive the problem you're trying to solve.

You’ll get to meet your audience and how they interact with the problem you want to solve through the product you want to develop.

Stay tuned for our next article and sharpen your product validation mindset.

Want to be ahead of any of your possible competitors' product development?

Among our weekly articles on this topic, Linnify has your back when you're creating products that dare to change the way people experience life. Catalin Briciu and Andreea Ghic have put together The essential guide for any rising entrepreneur who wants to future-proof their idea and investments.

Download this white paper and gain advantage and step ahead of the vast majority of entrepreneurs who, in 2022, still do not validate their idea in the market before investing it all in.

Be bold enough to make the step that can amplify your product's success before investing.

You too have something to share regarding the exploration phase?

Email us at contact@linnify.com and you can become the author of a future article.