Fail Fast, Pivot Faster: Validate Your Business Ideas — Say No to Big Bang releases
One of the key lessons I learned from starting various businesses and software projects
It’s all about failing fast and then pivoting.
Whenever starting a business or a project it’s tempting to dive into working on the ideas and begin promoting this new thing to others.
I’ve been there, done that.
Created an app, paid for terms and conditions, UX, website, marketing, videos and etc…. Just to learn, upon release, that what my end-users wanted was different to what I released.
I don’t have much use for that marketing video now!
What should I have done instead?
- Work on the idea incrementally.
- Put it in front of end-users.
- Workout end-users need through feedback.
- Pivot quickly.
Work on the idea incrementally
Initial idea (unless you have an existing following behind this idea and even still), it is your best guest.
Given that most ideas fail, why invest money into something that hasn’t been “approved” by your customers?
Create the initial vision first — keep it cheap — a mock-up can do the trick.
Put it in front of end-users
So, you may have had positive feedback on your mocks and found a pool of customers who may want your idea.
Well done. This is a scary step to make!
But, even though you have this approval it doesn’t mean that your long-term plan lines up with theirs. A lot of assumptions were made.
You need to verify why there is a fit.
The sooner you get a refined idea in front of end users the sooner you will find out if there is a fit.
Workout end-users need through feedback.
With the first nugget of valuable insight, we move into an ongoing loop.
Nothing is static, customer needs change or needs can be refined further.
We need to be aware of those and this can be found via continues feedback.
You thought the speed was a critical factor for the feature?
Well, your end-users might be happy to wait. Dont optimise for something that is not needed.
Pivot quickly
With feedback at hand, we need to iterate quickly.
Have tools to enable you to move quickly — take feedback, put it in front of the team and execute it. Then seek that feedback again.
End-users need solutions today, competitor might knock on their door tomorrow.
Wrap up
If the goal for a business or project is to make money (and as quickly as possible) then why wait?
Get this new thing to the end user and start iterating fast!
Increment -> Get Feedback -> Do it again
This doesn’t just apply to start-ups. Whatever “new” we are working on, unless there is demand by end-users, there is a risk of it failing, so it’s worth derisking it as much as possible.
With this approach, not only do you get to the market faster, but you also build a strong following along the way.
I’d love to hear your thoughts! Please share your questions and insights in the comments below or contact me directly.
Want more articles like this? Subscribe to my email list for exclusive content and updates on my latest work.
