Are You Solving a Real Problem for the Right Market?
Don't Just Create—Validate: How to Ensure There’s Real Demand
Strategic decision-making starts by answering a key question: Is there truly a big enough problem to solve?
It’s easy to fall into the trap of creating elegant solutions for non-existent problems. That’s why, before making a product or service, we need to ensure there’s a significant group of people with the need we aim to solve. This process is commonly known as “validating the market hypothesis.”
How can you validate the hypothesis?
Prototype: Design a simplified version to demonstrate how your solution would work.
Share It: Conduct interviews and surveys to confirm if the problem is relevant and widespread (or not).
Iterate: Refine your solution based on the data you collect.
Now, ask yourself these key questions:
Frequency: Does the problem occur regularly?
Intensity: Is it frustrating enough for people to seek a solution? Are there alternatives?
Urgency: Does it need to be resolved soon?
Scalability: Is there enough demand for such a solution?
And lastly, evaluate:
Feasibility: Do you have the resources to make it happen? Will it be sustainable in the long term?
Ethics: Does it cause any social or environmental harm?
The right strategic decisions stem from asking the right questions. Avoid falling in love with a solution before truly understanding the problem.