The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

Failures in judging the NEED?

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

Ludachris

Contributor
Read Millionaire Fastlane
Speedway Pass
Mar 17, 2017
55
77
125
44
Norcal
I'm working on a project and am starting to wonder, as I always do, if I'm identifying the NEED (relative value) correctly. It made me wonder what stories some of you might have where you thought you found a NEED and realized after a lot of hard work that you misjudged it and nobody really wanted what you created.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

PureA

Winners never quit
Speedway Pass
Dec 24, 2013
583
1,907
571
26
Bali
Speak to people, verify the pain point with your target demo. Get pre-orders if possible (offer an incentive for doing so).

You are never going to know 100%. You just have to collect the data you can, and and when you are 65%+ sure (adjust for your risk tolerance) pull the trigger.

p.s. Be careful about your buddies telling you it's great and that they would definitely buy, and then when it's crunch time they don't wanna hand over the moolah.
 

OlivierMo

Bronze Contributor
Speedway Pass
Feb 12, 2018
123
208
156
Idaho
Speak to people, verify the pain point with your target demo. Get pre-orders if possible (offer an incentive for doing so).

You are never going to know 100%. You just have to collect the data you can, and and when you are 65%+ sure (adjust for your risk tolerance) pull the trigger.

p.s. Be careful about your buddies telling you it's great and that they would definitely buy, and then when it's crunch time they don't wanna hand over the moolah.

I agree on that one. I worked on a site/app people used but their psychological makeup was to get stuff for free and so when we put the paying wall, nobody bought.
 

Sponsored Offers

  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2020
I'm on the fence with joining. I've been job searching for about 2 months and I can't get hired...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
If you read the last message then you know I'm removing my courses from Udemy next month. You...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
PS. what do you think about the idea of setting up live Busking experiences on Air BNB? I could...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
Hi Mj, I just bought it. And reading it. I think is a great idea to write using the stories to...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Just got off the phone with @LightHouse. Having just a 45 minute conversation with him has...
  • Sticky
MARKETPLACE Kill Bigger Incubator
@Kak Thanks for the reply. Whats interesting is that I have an idea that's been cooking which...



Forum Sponsor

sponsor

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom