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November 27, 2016

[Video] How do I choose the best business idea? – Bobby’s Minute, ep.65

Pick, build, test, market, explain, discard, repeat. :)

What’s an MVP?

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Transcript: 

I have tons of business ideas, but how do I know which one is good?

Well, first of all, research if there’s a market for it. While creating winter clothes for the polar bears may sound like a great idea for you, I don’t really feel that there is a market there. Once you have quite understood what the market is, you then go and create a product.

An MVP, a product as small as possible and then you see if users come and use it. If you can’t get users to use it, if you can’t get clients to use it, then your product might not be as good as you think it is. Or your marketing skills suck, which means that you need to find a co-founder that complements your set of skills and has the skills that you miss.

What’s interesting when you’re trying to find co-founders is that by trying to convince them that your idea is good, you might actually find reasons why your ideas suck. Once you find the idea that doesn’t really suck, go at the beginning of this video and redo the entire loop and this is how you build a product out of the shit ton of ideas that you have for a good business.

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