21:48
aaronchua
Is your product a purple cow?: Is your product a remarkable product? Will people talk about it because it is cool, meaningful, authentic, innovative etc? Many will argue that their products, by nature, cannot be a purple cow. If that is the way you think, you are already on the wrong path.
Let's take a great example: Little Miss Matched. It is a company selling socks. What can be more unremarkable. Yet, they have successfully turn socks into a purple cow by understanding what their customer group care about. It leverages on a deep understanding of what young girl would like. Are you doing the same for your products?
Is your product a viral loop?: I have mention this before but this is worth repeating:
understand the context of of sharing: when does sharing occur, under what circumstances and for what type of products?
You need to apply the principles of viral loops to your product principles in the context of solving a issue in your industry. Often times, applying game design is a good way to start the thought process. Does your product have a viral loop?
Is your product creating real value?: This is perhaps the most important question. We have enough of entertainment stuff in the world. We have Youtubes, WOWs, Facebooks, Meebos of the world to gives us all the entertainment we want. What we need are products that help us solve our real problems.
Here is a one common problem I see: we are all stuck in jobs we hate. How do you create products that help people do what they are passinate about and enjoy a healthy financial income? Are you empowering people and giving them a means to an alternate lifestyle that people love?
What is the value you are creating?
Posted in: Personal,Singapore startup environment
