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Verifying a product idea

Idea threads

AciD

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Nov 13, 2020
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I have a kind of a wallet (Think EDC market and similar) in preparation - I have basic concept, 3D model and now I need to figure out if there's a need for this specific variation in the market.
How do I do this to not mess it up?
  1. A landing page and some FB paid ads - but if it does poorly, how do I know I just didn't mess up my target audience? This is usually something that takes a lot of time and money to figure out
  2. Ask in EDC facebook groups / subreddit [here's the catch - I KNOW there are a lot of companies in these communities - I know that "somone will steal my idea is a cliche, but still I think it's a reasonable thing to worry about here].
Two things though:
They might love it and never buy it in the end or they might not like the idea, but if it was made it would actually gain some traction - how do I know if it's one or the other?

As far as physical product business - I am really new to it, sold only digital one before this. Any help / suggestion would be appreciated :)
 
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MJ DeMarco

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EDC? Electronic music?
 

Kid

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how do I know I just didn't mess up my target audience? This is usually something that takes a lot of time and money to figure out
You don't know. It doesn't take much money - you set up $5 a day FB campaign.
if it was made it would actually gain some traction
That's incorrect. People online buy by pictures.
Give them page with pictures and see if they buy.
 
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AciD

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Nov 13, 2020
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You don't know. It doesn't take much money - you set up $5 a day FB campaign.

That's incorrect. People online buy by pictures.
Give them page with pictures and see if they buy.
Oh yeah, actually on that second note, you have a point, but I mean when they would see influencers using it etc.
 

Kid

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Oh yeah, actually on that second note, you have a point, but I mean when they would see influencers using it etc.
Influencers do advertise many things, its what they do for money. Most of those items don't sell at all.
Lets talk about if any one is willing to pay for your variant.
Does it have any virality factor? If it has, you might give it to influencers but without fulfillment ready you would end up refunding most orders.
If not - you gotta do slow version.
Can you create prototype and ask few people about it?
Not online but physically.
What about Kickstarter.
It would be good validation because people talk there with their money and not good wishes.

If this wallet is that good, asking around on reddit probably is bad choice - people steal ideas. Maybe not so often on idea stage but those things do happen (also read MJ talking on similar topic himself:IMPORTANT! - Why All The Secrecy? Here's Why...)

It would be all for now.
 

AciD

New Contributor
Read Fastlane!
Read Unscripted!
Nov 13, 2020
24
9
Influencers do advertise many things, its what they do for money. Most of those items don't sell at all.
Lets talk about if any one is willing to pay for your variant.
Does it have any virality factor? If it has, you might give it to influencers but without fulfillment ready you would end up refunding most orders.
If not - you gotta do slow version.
Can you create prototype and ask few people about it?
Not online but physically.
What about Kickstarter.
It would be good validation because people talk there with their money and not good wishes.

If this wallet is that good, asking around on reddit probably is bad choice - people steal ideas. Maybe not so often on idea stage but those things do happen (also read MJ talking on similar topic himself:IMPORTANT! - Why All The Secrecy? Here's Why...)

It would be all for now.
Thanks a lot for this link! :)
Yeah, I'm afraid someone who is already in the business of similar nature with bigger resources will snatch the idea.
 
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