Ask HN: Homework you did/didn't do before a startup
3 comments
We make a design platform for engineers, and as both founders have technical backgrounds, we talked with around 30-40 engineers (presumably our target customers) about our product before starting to code.
Turns out, feedback from friends was almost always positive and encouraging("Great ideas! Go for it!"), but we must have neglected to either ask people who aren't friends and family, or we didn't emphasize enough the question, "Will you pay for it and how much?" :)
Luckily, after spending 6 months making a beta, we got in touch with real customer leads, and found that while our product features are still relevant, we must position and market it differently to stand a chance.
So while there's still a long way to go, market validation is one of the things we should have done better.
Turns out, feedback from friends was almost always positive and encouraging("Great ideas! Go for it!"), but we must have neglected to either ask people who aren't friends and family, or we didn't emphasize enough the question, "Will you pay for it and how much?" :)
Luckily, after spending 6 months making a beta, we got in touch with real customer leads, and found that while our product features are still relevant, we must position and market it differently to stand a chance.
So while there's still a long way to go, market validation is one of the things we should have done better.
Homework:
1. Check out the competition. How are they doing? Making money?
2. Think how long it'd take you to get to a minimal version. Sketch and see what you can leave out.
1. Check out the competition. How are they doing? Making money?
2. Think how long it'd take you to get to a minimal version. Sketch and see what you can leave out.
I was trying to think of everything that can go - WRONG - when you try to start a firm on your own.
If you could add your own experiences along with stuff you wish you had taken care before you jumped in - this would be AWESOME food for thought for a first timer.