If you hypothesize the world needs some technology product, you can test that hypothesis easily by building a quick website and buying ads on Google—seeing if you can get people to bite. You don’t have to actually build the product, just the marketing website to see if the value proposition resonates. Given the efficiency of online advertising, you can target your hypothesized buyers pretty well and test whether they hit the “buy button” on the website or not. Here’s where you might let people down: the buy button doesn’t actually work if you haven’t built the product. Usually the button leads
...more
