Title: How To Determine The Viability Of Your Product Idea | FastSpring
Headings: How To Determine The Viability Of Your Product Idea
How To Determine The Viability Of Your Product Idea
Step #1: Determine Your Target Customer
Step #2: Understanding the Needs of Your Customers
Step #3: Define Your Value Proposition
Step #4: Offer Up a Core Set of Features For Your Minimum Viable Product (MVP)
Step #5: Build the MVP Prototype
Step #6: Get Your MVP In front of Customers
Reflections, Pivots, & Iterations

Content: It isn’t very efficient to invest considerable time and effort into building a finished product if you have to drastically change the product or pivot down the road. Step #6: Get Your MVP In front of Customers
Once you’re satisfied with the first iteration of your MVP, it’s time to test it with your target customers. Data integrity is extremely important in this final step since the feedback you receive will be instrumental in influencing the direction of your product. From the start, you’ll want to only elicit feedback from people who fit the criteria of your target customers. If you’re not careful, you could risk iterating your product in the wrong direction to meet the needs of customers who might not necessarily be in the market for your product. To prevent this, consider designing a survey/questionnaire to make sure you’re identifying research participants who more closely fit your ideal customer persona. The actual test of your MVP with your target customers should incorporate a variety of qualitative and quantitative questions. Open-ended questions are more helpful in soliciting constructive feedback than questions that can be easily answered with a “yes” or “no” response. Of course, you should be careful and ensure you’re not asking leading questions since they can prime your users to give a particular answer.