Thread: Market Testing when your model already has a few in the game...

I have been doing a good bit of research on how validating your idea is crucial prior to diving into the details (i.e. the Lean Startup principle, etc.).

However, my current business model already has a few key players but there is very little competition. Additionally, I feel our model can capitalize greatly on where the current market players are lacking.

Bottom line, is market testing (i.e. google AdWords, Facebook, etc.) linked to landing pages worth it if you already know there are a few companies with your model thriving?

TIA.

Originally Posted by Slimer009

...where the current market players are lacking.

Bottom line, is market testing (i.e. google AdWords, Facebook, etc.) linked to landing pages worth it if you already know there are a few companies with your model thriving?

TIA.

Do you want to KNOW where competitors are lacking or are you guessing. If you have browsed the forums or comments of their blogs and searched for "X sucks" then you might know, but will people pay for the USP?

Test the commercial viability of your USP.

My understanding of the lean startup is that you don't want to spend a ton of time building something only to find out that the market doesn't want it and you have wasted your resources.

I would say if there are already a few players then the business is probably working and the market probably does want it.

Originally Posted by HsrJames

I would say if there are already a few players then the business is probably working and the market probably does want it.

Of course, but again will they pay for your USP?

A/B testing and asking the consumer:

"Would you be dissapointed if this service was gone?"

If they say no because X is like this. it's not a real need.

You can also take Steve Jobs approach, ignore everything and crown yourself the King.

(and also "people don't know what they want" which is kind of true.)

Originally Posted by cliqflip

You can also take Steve Jobs approach, ignore everything

No, no, no - he definitely followed most of these (by pure talent and intuition):

Originally Posted by roark

No, no, no - he definitely followed most of these (by pure talent and intuition):

I was being sarcastic

And I used it to make a point

Roark - those were some cool videos! Thanks for the link.

In case someone doesn't want to watch the whole presentation, here are the main points:

We are moving from the left brain analytic thinking and work to right brain type of creative tasks. The main reasons for this are Abundance, Asia and Automation (basically: we have already too much stuff, Asia has lots of people who are getting the same kind of education we get in the west and can do same stuff cheaper, Routine tasks can be automated and thus executed by computers or machines)

The word you should fear the most is ROUTINE.

The 6 key pillars that will matter now and in the future are:

* Design - routine is easy to outsource, design is not. Product design, experience design, etc
* Story - facts are free, they need to put in to context to create economic value. Story = Uniqueness
* Symphony - See the big picture, observe patterns, notice things that are missing and solve them
* Empathy
* Play - sense of humor, games etc
* Meaning - why?

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Hope those notes are useful to someone.