Estimate the value of your solution.
This exercise can help you pinpoint or confirm your target customer set.
- Ask potential customers what product or service they would buy to satisfy their needs.
Find out the price of the product or service.
- Make a list of advantages your solution has over the competitors’ alternative.
Memorize this list and be able to articulate it at any time.
- Make a list of advantages of your competitors’ solution over your solution.
- Based on these lists, estimate the value of your solution.
Revise this estimate as you get more real-world feedback from customers.
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