We assume you are here with a general product idea in mind and are trying to figure out how to take that idea and turn it into a form of income. While it is exciting to think of all the different possibilities, before starting a business, it is important to focus on launching one product that customers will be excited about and will turn them into recurring customers. In Chapter 1: Getting Started we walk through information and a series of questions to help refine your initial product offering, as well as introduce the concept of the Lean Startup methodology.

• What do you want to sell? This can be a physical item or a service you provide others.
  • Choose one product to offer that excites customers and keeps them coming back.
  • Concentrating on one product allows you to start selling sooner, receive real customer feedback, and make improvements.
  • Keep it simple by offering a Minimum Viable Product (MVP). This is the simplest version of a product released to customers to gather feedback efficiently.
  • The Lean Startup methodology, developed by Eric Ries, advocates for iterative product development to reduce risks and shorten development cycles.
  • The Build-Measure-Learn loop involves building the MVP, measuring its performance, collecting feedback, and using data to make informed decisions.
  • Pivoting is important – make fundamental changes based on feedback and data to continuously improve the product or business model.
  • By following these steps, you can establish a strong foundation for your business and set the stage for future growth.
• Refining Your Product.
  • Write it down! Think through the different products you want to offer and pick one. Ask yourself questions to narrow down your choices. Some questions you might ask are:
    • Want product can I get to market quickly?
    • What do I want to avoid?
    • Are there any regulations or legal restrictions where I live?
      

Our full course goes into more depth on all of these items and offers a step-by-step exercise to help you refine your product selection so you can get to market that much faster!