Idea Stage - and Moving Forward

In this episode: What do people at idea stage need to know to get started? ** Focus on the immediate task ahead of you. ** I had a call with someone that wanted to start a vehicle company ** There are a lot of things you can do before you think about raising capital ** I you have an idea go through our 3-step model ** What issue are you solving? ** Validate that someone cares about it ** Not every product needs to be world changing, just what the market needs ** What's the market need ** Do your research. ** Listen to the market ** Establish design goals ** Yeti travel mug ** Macro level design decisions ** Until you get your product into someone's hands it's all assumptions ** If you have an idea, you better do your research first ** What is your unique value proposition? ** People struggle with value proposition ** There are many variables that can go into value proposition ** A real life example from FABBRO ** We walk with you through the design process ** We work with you to extract what your actual vision is ** You are not a job shop. You do custom solutions ** The first thing you should do is try to disprove that you should actually do it at all ** At some point you are going to need help ** Here's what I know from my perspective and here are real life examples ** It's the prove it mentality ** People at some point should ask you hard questions ** Once someone gives you a dollar for something, you are beholden to deliver ** Know the landscape where you fit in. What do you do? What don't you do? ** I'm shocked by people who just want to be praised ** If your ego is out front that will cause a lot of issues ** Talk with people about what you are trying to do ** Talk with people who are qualified. Talk with your potential customers ** Inbound engagement is really important.