#14. How to validate your product idea, & avoid creating a ‘money pit’ that destroys your life!

Season 2: 'Product development', Episode 2 A good business idea or new product/service is just the start. In this episode Product Design experts and leading entrepreneurs reveal how to validate your idea - and avoid problems. Guest Bios: Ross Gales Rob Newman (https://www.linkedin.com/in/rossgales/) is Director of Design and Strategy at leading product design agency Pollen. (https://pollen.com.au). Carrie Peters (https://www.linkedin.com/in/carriepeters/) is Product Design Principal at product design agency Us Two. (https://www.ustwo.com.au/) Mina Radhakrishnan is founder and CEO of 'proptech' platform Different.com.au (https://www.linkedin.com/in/minarad/) and has worked for Google and Uber. Sven Almenning (https://www.linkedin.com/in/sven-almenning-a8554b20/) is founder and CEO of the Speakeasy Group, a leading Australian hospitality group. (https://speakeasygroup.com.au/) Dr Wei Shin Lei (https://www.linkedin.com/in/weishinlai/)and Jason Wolfe are the founders of Acoustic Sheep, the manufacturing company of Sleepphones (https://www.sleepphones.com/). What to listen out for: 1.55 The story of the E.T video game product fail 10.45 Definition of product validation 13.01 The three lenses of validation: usability, desirability, feasibility 16.42 Minimum marketable product (MMP) vs Minimum viable product (MVP) 19.12 The principle of 'inclusive design' 22.37 How to validate a product idea just using Facebook ads 25.59 The 'f*ck yeah' approach to product validation 30.32 FEATURE STORY: Sleepphones product validation and ideation 42.52 NERD UNDER PRESSURE - regular segment with Mina Radhakrishnan Resources and links: 1. E.T video game story https://www.npr.org/2017/05/31/530235165/total-failure-the-worlds-worst-video-game 2. https://en.wikipedia.org/wiki/E.T._the_Extra-Terrestrial_(video_game) 3. Minimum viable product (MVP) https://en.wikipedia.org/wiki/Minimum_viable_product 4. The Lean Start Up book http://theleanstartup.com/principles ***** Enjoyed this podcast? >>>> Please SHARE via text or social media ((!)) Get in touch with us here: https://nerdsofbusiness.com/contact/ You can follow Nerds of Business on socials: Twitter: https://twitter.com/business_nerds Facebook: https://www.facebook.com/nerdsbusiness/ Linked in: https://www.linkedin.com/company/nerds-of-business/