1️⃣ What is the Problem?
Clearly define what the problem is in the market.
HOW DO YOU KNOW this is a problem?
(personal experience? research? friends telling you?)
List WHO has this problem.
Why does this problem exist and why hasn’t it been solved yet?

2️⃣ What is the Answer?
List your solution.
Make sure it directly solves this problem you have uncovered.
Does it completely solve the problem?
HOW does it solve the problem?
Is it better than what exists in the market today?
Is it 2x better? 5x better?

3️⃣ Who Cares?
Why does this solution matter?
Is your solution a huge step forward in this market?
Does your solution help the customer save money?
Does it improve their performance?
Does it democratize your industry? (does it level the playing field)?

4️⃣ Market Research
Let’s dig into the market a little.
Is it a large market?
Is it growing?
Is it in decline?
What are the current trends in the market?
Is there significant progress in the market, or are the existing competitors stagnant?
What happens to this market and your customers if the economy enters a recession?
What about if the economy is booming?
If you don’t know much about the market you want to enter, find someone that does!

5️⃣ Who Wants to Stop You?
List the key competitors.
What unique advantages do they have?
What is the main value proposition of their product that competes with yours?
Are they able to copy your idea if you take it to market?
What can you do to make your idea defensible?
Is this a highly competitive market?
Are people loyal to the brands in this market?

6️⃣ UVP
What is your Unique Value Proposition?
What is the one thing that your product has that the competition does not?


7️⃣ Get Out of the House
Go talk to your ideal customer.
Ask them what their big problem is that needs solved.
Is it the same problem that you are working on?
IF SO, great.
IF NOT, reevaluate if you are on the right track.
Find these ideal customers on social media (Reddit is a good one, as is Facebook Groups) or in person.


8️⃣ Make a Sample
Create a landing page that explains what you are up to.
Or, make a sample of your product or solution.
Make sure it addresses the problems that the customers outlined in #7 above.

9️⃣ Can You Make Money Right Away?
Go back to these people you found in #7 and, this time, show them what you are working on.
Are they eager to buy?
Can you take a few preorders to get some cash coming in?
If so, it could fund your development.
If you are solving a big problem for an eager customer, they’ll be willing to pay you for an early version of the solution.

🔟 Elevator Pitch
Work on your elevator pitch.
It is a summary of what you’ve uncovered in these steps above.
✅ Who you are.
✅ What the problem is.
✅ What you are working on.
✅ Why it matters.
✅ The progress you’ve made.
This pitch is for potential customers, investors, partners and more.