Why most Product Ideas FAIL & How to mitigate it


#1

When building products and brainstorming for ideas, we sometimes take the wrong route. We develop the idea, then build a product without “clearly” determining who our potential customers are and the different possible ways in which our solution could work.

In most cases, this gives rise to half baked ideas & sometimes outright empty copycats. Why? Most people don’t know how to visualize their ideas using simple tools. The business model canvas is a simple tool that outlines all aspects of your business idea on a single sheet of paper. Yeah, a single sheet of paper.

I’m sure some of you know about the business model canvas and have used it before. The question however is, was it actionable? How many times have you checked it since then. The business model should be a living document that should be iterated upon and modified as you get feedback from users.

To help with this, I have created a step by step guide on how to create a simple and actionable business model in minutes here on Medium. I used settle.ng as a case study to ensure its relevant and applicable.

You also get access to a FREE tool with tailored questions and native tech examples which you can use to build your own business model in minutes.

Would appreciate feedback on how it can be improved to help people get their ideas out of their head quicker. Cheers.