Build What Matters, Launch What's Wanted, Vet Business Idea

​​Practical Steps to Validate Your Business Idea and Get Product Feedback That Helps You Make Smart Decisions

Before you launch your big idea, learn why validating it with real user feedback is critical. Discover practical steps to avoid costly mistakes, overcome perfectionism, and create a product or service that solves real problems — so you can build something people actually want.

Okay, so picture this: you've got a brilliant idea. A revolutionary idea. You're gonna change the world! Or, at least, the way we watch videos on our phones. That's what Quibi thought, anyway.

They were all about these "quick bites" of super-fancy, Hollywood-grade short-form content. You know, like mini-movies for your commute. They had big names, big budgets, and even bigger dreams. But, things didn't exactly go according to plan.

Here's the gist: Quibi kinda forgot to ask if anyone actually wanted their fancy mini-movies. Turns out, people were pretty happy with the endless scroll of TikToks and YouTube clips already on their phones. Who'd have guessed?

They also launched with a price tag and a format that were, let's just say, a bit… rigid. And then, the pandemic hit. Suddenly, everyone was stuck at home, not exactly needing entertainment for their non-existent commute.

The result? A big, fat flop. Quibi crashed and burned faster than a phone battery on 1% with a viral cat video playing. They spent a ton of cash, didn't validate their idea, and poof! Gone.

So, what's the takeaway here, folks?

Well, for starters, having a grand vision is cool and all, but you gotta start small. Like, really small. Think of it as testing the waters before diving into the deep end.

Quibi could've, for example, dropped a few of their "quick bites" on existing platforms, see how they did against, y'know, actual user-generated content. Maybe they'd have realized that their premium stuff wasn't exactly flying off the virtual shelves.

If they'd learned that earlier, with a smaller investment, they could've pivoted, tried longer videos, or maybe just called it a day and saved themselves a fortune.

The golden rule? Solve actual problems. And make sure people actually care about those problems. Validation is your friend.

When you're figuring out your MVP (Minimum Viable Product), focus on what makes your idea unique, what gets people excited, and what solves real problems. Skip the fancy frills for now.

Why is finding an MVP hard?

It can be uncomfortable settling for less than our vision. Why?

• Perfection is not your friend here. Striving for perfection will cost you time and money and prevent you from getting appropriate feedback.

• Our insecurities about putting something out that isn’t complete or matches our vision triggers our fear of looking stupid or failure.

• Your ego may tell you that you know the market and don’t need to ask anyone. I’m sure the Quibi team said the same thing.

• It takes discipline to remain focused which can be challenging when faced with the fears, ego, and perfectionism above.

Bottom line? Remember these gems:

• Validate your assumptions. Don't just guess what people want. Ask them! And Test it.

• Be flexible. The world changes, and you gotta change with it. When major market conditions change, your product should too.

• Focus on the user. Fancy production values don't mean squat if no one cares about the product.

• Reframe your fears. Find a way to reframe your fears and bypass your ego knowing this will help you in the long run.

• Balance "Viable" and "Minimum. The MVP must be "viable" enough to provide value to early adopters and gather meaningful feedback. Striking the right balance between "minimum" and "viable" is crucial. If there are too few features, no one will use it.

So, next time you're about to launch your "world-changing" idea, take a page from Quibi's book (the "what not to do" page, that is). Start small, test your assumptions, listen to your users, and reframe your fears even if you need to find a coach to help you work through your struggles. And who knows? Maybe you'll actually change the world (or, at least, make something people actually want).

If you are struggling with this, coaching may be for you. Schedule a free discovery call to refine your idea and get started with confidence.