MADE XXXX INC
4 Best Practices from 4 Successful Entrepreneurs
JUSTIN ROMANO , CEO & co-founder of Backspace and Head of Product Development at Brandless Group
1 . Solve A Major Issue
Discover a pain point or hole in the market and create a solution .
2 . Research Before you Build
Validate your concept with potential customers / users to find out if the solution makes their lives easier and how much money they would be willing to pay for it .
3 . Stick To The Basics
Create Your Minimum Viable Product ( MVP ), or a bare-bones version of your product .
Don ’ t overload your initial product with tons of bells and whistles . Take the ONE thing that your product / service needs to do to solve the pain point in your market , then create your MVP around that ( and only that ).
4 . Research After You Build
Validate your MVP ( Minimum Viable Product ) with your customers / users . Get a group of beta testers ( your ideal user ) and have them use your product and give you feedback . A lot of people skip this step and go straight to launch only to find out later that they should have done more testing in the earlier stages .
Discover a pain point or whole in the market and create a solution . made-magazine . com | 19