Ok – so you have your stellar idea, you’ve pitched it to your network of friends and family over coffee, and now you’re ready to add some real analytics to the formula.
What’s your first step? Well, following the Swaave methodology for building an investable startup, you will look to craft out a visual prototype of your product design, and then build a series of actionable questions designed to validate if what you “think” customers want, actually turns out to be the case — at least “conceptually” speaking.
Now, what exactly is meant when we throw that word, “conceptually” in there? Well, lets think this through…
When you are first beginning to build the vision, everything is entirely being construed and designed in your head. Even once you get an initial design on paper, it is still fairly intangible.
Playing this through, you’re now simply building out your market research survey from these fairly intangible thoughts, leaving it even ‘less’ tangible to your potential clients when they provide you answers.
Not everyone’s brain works the same way, and no single person has had all of the same life experiences either. That being said, when you are asking questions in your general survey, you need to accept that all you will be getting are the general “conceptual” ideas that the results represent.
Understanding the underlining derivation of any data, is what empowers an entrepreneur to make it actionable. Instead of simply looking at pages views, unique impressions, or answers to questionnaires… challenge data and ask yourself, “where is this coming from, and why am I seeing it.”
Rooting your rationale into the core of your customers experience and perspective is the difference between chasing shadows, and harpooning the white whale.