CONSIDER THIS
Bring more energy to your idea. Be positive what success looks like, balanced with careful thought as to possible "unhappy paths" and how to minimise/mitigate these
The next step is to validate your idea with prospective buyers in that market segment, coming from their wants and needs. Customers will buy what they want from you, as opposed you trying to sell them something they don’t need.
To achieve this you need "just enough" features you can talk to prospective buyers and they need to be able to see/feel/visualise enough of the product to decide if it's viable. Consider the traditional Swiss Army pen-knife - the largest ever made had 87 tools with 141 different functions, its large and heavy. Do you need this for a family camping trip?
Two key aspects to consider to get a product/service launched as quickly as possible
1. Minimum Marketable Features (MMF) i.e. the least amount of functionality a product must offer for a customer to see any value and is something you can discuss benefits
2. Minimum Viable Product (MVP) the point when you’ve spent the least amount of effort, time and money, but have something an end customer can use (even trying a prototype) and should help answer the question: Is this the right product to build?
This is a sample - there are many key aspects to consider at this stage of the strategy
Should we do it?
IS IT A PRODUCT WANTING TO BE BOUGHT?
"You’ve got to start with the customer experience and work backwards for the technology. You can’t start with the technology and try to figure out where you’re going to try to sell it"
Steve Jobs 1997
THOUGHT PROVOKING ANALOGY?
Matching needs and wants to features and benefits is like matching jigsaw pieces
The idea of creating a 5000 piece jigsaw puzzle of the Universe, all with similar white, yellow and red stars, with black space all round, using complex shapes may appeal to some who would rise to such a challenge. Your view is this can sell at £49.99 (typical UK price as of 2023) and a Master Jigsaw Fans may pay this. However, if you idea was for 4+ year olds to learn about Space, are their (and parents) wants and needs aligned?
How is your product going to help them achieve their goals? Do they think it adds value to them (and how much?) Early feedback is key before wasting too much time and effort. The idea of a jigsaw is popular among parents, but they would only buy a 40 piece jigsaw at £4.99 with a simple picture of the Man in the Moon, an Astronaut and a Rocket
Also well before all pieces are found, parts of the jigsaw soon become clear and where to be roughly placed. What minimum marketable features makes your product viable?