- Step 1: Write down the problem you’re looking to solve in a simple statement. Avoid focusing on any specific solution at this point.
- Step 2: Determine whether the problem you’re trying to solve is a tier 1 problem – one of the top 3 problems your potential customers are experiencing. Connect with 20-50 prospects who fit your target customer profile and ask them questions to validate your idea.
- Step 3: Determine existing solutions and competition in the market. It’s generally better to solve a problem where there are already competitors, as this verifies that you have a large enough market with a tier 1 problem.
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