Fact vs Feelings: The Obvious Secret to Business Growth

👑

I want to talk about the true secret in business that no one seems to discuss.

I think about this whenever people ask me, "How do I come up with product ideas? How do I develop that perfect product strategy?"

It's initially irritating because there isn't a magic formula. There are frameworks for validating ideas, but no secret to developing a good product. At its core, it's simply talking to customers about their problems and creating a better solution than what exists.

The real secret is that you must show people your ideas and get their feedback. In my experience, people often complete the entire idea validation process alone. They conceive an idea, get excited about it, and then abandon it - all without any external input.

There is a process people can follow to validate ideas, and it's about gathering facts and making decisions based on evidence instead of feelings.

Creating a good product begins with idea generation. Perhaps you've encountered a similar problem yourself or a client mentioned an issue they're facing.

What typically happens next is people overthink instead of seeking feedback. They exhaust themselves mentally, decide the idea won't work because nobody's buying it (even though nobody knows about it), and move on to a new idea to repeat the cycle.

My best advice: make it factual. To develop a product from initial concept to viable offering, you need to speak with at least 30-40 people before gaining any real insight. Talking to just 1-2 people is not validation - the sample is too small. You need to speak with 30-50 people.

You'll start getting valuable insights around the 10th to 15th conversation, but you must go further than most are willing. Document these sessions and record your insights. Turn it into a scientific process.

It doesn't need to be complicated - a simple spreadsheet tracking who you spoke with, what they said, their feedback, and whether they might purchase your solution is sufficient. This is a proven scientific approach to tackling unknowns.

If you're searching for the secret process, use the fact-over-feeling product validation model.

20 comments