4 ms·

Ask HN: How do know if a problem is big enough?

7 points by rukshn 5y ago

How do you know if a problem is big enough to work on and whether it will have a good enough market? I've conducted a small survey to identify a probable market for a problem before started building anything, and it turned out to have mixed results. Like 55%-45% split. How do you decide whether a problem is big enough solving?

dusted 5y ago
n / (m-c) Where n is the number of instances of the problem, m is price the market will pay for solving an instance and c is the cost of solving it.
MaknMoreGtnLess 5y ago
While I am happy to go into TAM and related metrics, I am assuming this is your first successful startup. In that case, don't worry about the market - infact, having just a few dozen paying customers who can be fit in 1 to max 3 personas but those that you understand very well, can reach well and get immediate feedback from is very important. > I've conducted a small survey to identify a probable market for a problem before started building anything, and it turned out to have mixed results. - How exactly did you conduct the small survey? - What kind of questions did you ask? - Did you use a form or conducted 1:1 interviews? - How did you source the participants? - What was the motivation of the participants? > Like 55%-45% split split of what? Is your solution a whisper idea? Or can you share it?
- rukshn 5y ago
  Well it's not a ground breaking idea of any sort, it's about providing support for female reproductive health issues. Where I'm coming from female reproductive issues are considered too sensitive to talk in public and sometimes females find it difficult to talk with even with their doctors. The survey was carried out by females in their reproductive age. And via a questionnaire mostly carried out via LinkedIn. Well the question is not just for this idea but for any idea, how do you know if a problem is big enough to be solved. And how do to proceed when there are mixed signals when talking to customers.
  - MaknMoreGtnLess 5y ago
    > Well the question is not just for this idea but for any idea, how do you know if a problem is big enough to be solved. This is premature optimization. How many datapoints do you have so far? Did you interview 50-60 of one persona yet? There is no one answer because the detail completely lies in the specifics, which is why I asked you those questions. You seemed to have missed those questions. > And how do to proceed when there are mixed signals when talking to customers. There's no mixed signals. You're uncovering personas. Each persona outputs a different but unique signal. Segment them. Then try and resonate with 1 to max 3 personas depending on your mental bandwidth and resource ability. By the way, how did you learn to do market research first before building a product? You're already ahead of the curve and very likely to be successful than most first time founders I've seen
hougan 5y ago
It depends on different parameters.
sheinsheish 5y ago
Probably not what you are looking for but might be worth it https://blog.appsumo.com/validating-your-business-idea/ https://blog.appsumo.com/validating-your-business-idea/
raleighm 5y ago
What do you aim to achieve by tackling the problem?
muzani 5y ago
Personally, I find surveys don't work. In tech, you want to be building products that are 10x better. e.g. half the price, 10x faster, but at half the quality. But a thing like this is just never going to be understandable in a survey. Like if Uber wanted to launch, what kind of survey would they even put up? Hail a taxi, but it's someone's car and they'll treat you better than a professional? Also it'll be safer than a licensed, regulated taxi. Gmail: Would you like 1 GB of email storage vs Microsoft's 5 MB? (and it's free, filters spam better, and has a better UI) Steam: Would you like to buy games for an average 4 times cheaper, and download them fast, legally when you feel like it? The CDs won't scratch and you can own the games on any PC with internet access. Instagram: Would you like a shareable photo album that is infinitely cheaper than Photobucket with unlimited storage? Oh, it makes you prettier too. If you can ask questions in a survey, that don't make people suspicious, maybe you're not aiming high enough.
shavin47 5y ago
Check this matrix out, it'll help you think about it https://www.getrevue.co/profile/mjwhansen/issues/analyzing-customer-interviews-with-the-pain-and-frequency-matrix-426968 https://www.getrevue.co/profile/mjwhansen/issues/analyzing-c...
brudgers 5y ago
Is the problem the size of a bicycle?
favourable 5y ago
I build for the problem I have, not the problem I want.