In my previous post, I emphasized the importance of analyzing a Market, before creating your Product.
But sometimes it is not possible, to completely analyze the Depth of your Market, beforehand.
So what should you do then? Here is the secret…
The Only Available fool-proof way to analyze the Depth of your Market is…
Piloting your Product
In short, Piloting is nothing but – Creating a Shorter or abridged version of your Product
Few things to keep in mind while piloting your Product are:
- Keep the Costs to a minimum
- Piloting must target the real Product Market (not a simulated one)
- Real Customers must be involved in the Pilot
- You should be able to easily Scale up or Shut down based on the results of the Pilot
- Time to Market is very Crucial. Your Pilot must be in the Market as early as possible!
In the coming weeks, I am running a Post Series on getting your Pilot Product out – in the shortest time and at lowest cost! Stay tuned.
Photo Credit: lan Sane