Why Successful Entrepreneurs Reject Great Product Ideas

How to kill an idea before it kills your company

The “killer” idea

We’ve all been on the other end of someone else’s killer idea becoming reality, where we’re one of a small minority, maybe the only person, convinced that the killer idea is actually going to kill the company. Or at least hurt it badly.

Gut Check 1: The idea doesn’t have a strong revenue case

The most dangerous great ideas come about when something your company is already doing triggers the possibility of doing something else that’s really cool, maybe even amazing.

Gut Check 2: The idea doesn’t align with your product pipeline

The only thing harder than supporting two products at the same time is running two companies at the same time. If you’re not careful, the great idea that’s in front of you could be the beginning of both of those scenarios.

Gut Check 3: The market for the idea isn’t addressable

A glaring mistake most rookie entrepreneurs make is when they assume the customer they’re going after has unlimited money to spend. Customers have budgets. Therefore, markets have limits.

Experiment the idea to prove its validity, not find it

Experiments are great. A good experiment can significantly reduce the amount of risk in implementing a great idea for a new product, feature, or market.

I’m a multi-exit, multi-failure entrepreneur. Sold ExitEvent. Building TeachingStartup.com & GetSpiffy. Former Automated Insights. More info at joeprocopio.com

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