I got feedback on my idea in Palo Alto today. Stupid?
I literally stood on a street corner in down-town Palo Alto and asked people if they would use my product. One gentleman who claimed himself to be a 'startup guy' seemed to think I was crazy for exposing my idea publicly in PA. Your thoughts?
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[ 4.2 ms ] story [ 61.8 ms ] threadSeriously though, the "startup guy" doesn't know much. Stealth mode rarely is useful — more useful is getting information and feedback from potential customers, suggestions from other (knowledgable) startup people, and getting the word out about your potential product to encourage critiques and even more feedback. Keep up the good work.
You run a far larger risk of developing a product, getting good traction and then someone emulating your idea after you have proved the market exists for a product, but when it is an idea on a napkin, it is an idea on a napkin and that's all it is worth. Isolating yourself from early feedback due to fear is the worst thing you can do.
I had an idea for an electromagnetic weight bench once and I have some pretty good connections in the industry. I discussed the idea with the executive group at EAS and Weider, hoping one of them would use the idea as I never had intentions of designing and building it, I just want an electromagnetic weight bench that I can dynamically adjust the weight, with an accelerometer that kills the weight if the bar is dropped to prevent injury.
They all though it was an amazing idea, I even got promises of financial backing if I wanted to pursue it. To this day, I don't have my electromagnetic weight bench because I was too busy at the time to do it myself and my passion lies elsewhere.
My point is, I put a good idea in front of industry leader, they though it was an amazing idea and they still told me, if you want to see it happen then you build it. They where more than willing to put up the money to a person with the vision, but they where not going to pursue assembling the people to make it happen.
And yeh, if your idea is any good then:
a. You're doubtless not the first person to have had it b. As soon as you publicly execute a heap of people will copy you
So it doesn't matter if everyone knows it, the main thing is whether you can do it better than anyone else... see Zynga :)
People will always tell you "oh sure, sounds like a good idea, I'd use it" because they want to save face and encourage you. There is NO cost to them, real or social, and so they will most often choose that option.
Hell, when I did presales research for a b2b product, I talked with people who told me about their woes, gave great data and indicated that they would pay $X a month for a service that solves their problem. Guess what: none of those people ended up being my first customers, despite telling me they were interested and willing to pay.
I could probably care less about "giving away" my ideas these days, there's just too much that goes on behind execution to care anymore. Entrepeneurs get paid because we deal with problems and bullshit every day; if you want to have the same problems and bullshit I'm facing, go for it. Competition is overrated when it comes to affecting your bottom-line.
That said, just build the damn thing or pretend to have something built where you can measure the amount of people willing to pay for it (not a survey, I mean literal clicks and submissions where people think they're going to go to pay for it).
You should turn it into an experiment and try at different times of day and locations (you will get vastly different people shopping in the middle of the day, at a bar, or heading to a wifi coffee shop after work)
We were wondering if it was crazy or not, but after a day of spending 9 hours showing our product, explaining what is was all about and pitching the ideas to people we got an amount of information that no doubt made it worth it to us.
As many other say, I don't think exposing your idea or talking to strangers comes with any risk worth planing around, but whether what you did was worth it: I'm pretty sure you already know it yourself by now.
Create your product and only then you'll know.
- how many people you wanted to talk to - the type of people (kids, working adults, homeless, men, women, etc) - the response you were expecting from the interaction - the number of responses you were expecting
Now, did the results of your experiment meet the criteria for your test and if so, were the responses actionable?
I would say you were crazy and wasted your time if you didn't already have an idea of what you were trying to accomplish. Otherwise, I'd say, "Great! What did you find out".