Know Before You Build
Before spending serious money, validate: does this market exist, and will it pay for your solution?
Research Methods
| Method | How |
|---|---|
| Customer interviews | Talk to 20-50 potential buyers |
| Surveys | Validate demand at scale |
| Competitor analysis | Study existing solutions |
| Market sizing | TAM, SAM, SOM |
| Industry reports | Paid or public data |
Market Sizing (Simple)
| Level | Meaning |
|---|---|
| TAM | Total Addressable Market |
| SAM | Serviceable Available Market |
| SOM | Serviceable Obtainable Market |
Example: If TAM is all US coffee drinkers, SAM might be Ethiopian-coffee lovers, SOM might be those in your metro area reachable in year 1.
Minimum Viable Product (MVP)
Build the simplest version that delivers value. Learn from real usage; iterate. Examples:
- Restaurant pop-up before full lease
- Website with manual fulfillment
- Cultural event before launching full platform
- Single product before full catalog
Customer Development
Before launching:
- Identify ideal customer profile
- Interview 20-50 of them
- Listen for pain points and language
- Pitch a solution concept and gauge reaction
- Get pre-orders or deposits for real signal
Questions That Fail Validation
- "If this existed, would you buy it?" (Polite yes doesn't mean real yes)
- "What do you think?" (Too vague)
Questions That Succeed
- "How do you solve this today?"
- "What's the worst part of doing it that way?"
- "Would you pay $X today?" (concrete commitment)
Key takeaway: Validate with real customers before serious spending. Use MVPs, interviews, and pre-orders to test demand.