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The only way to invalidate an idea is to prove that people don't want the product. While I wouldn't always bet on a business that has a proven demand, I defini
by johnrob 14y ago
The only way to invalidate an idea is to prove that people don't want the product. While I wouldn't always bet on a business that has a proven demand, I definitely would not bet against one.
A great example is Instagram: I wouldn't have bet on that product because it seemed destined to make no money, but since so many people liked it they somehow found an exit.
- wheels 14y agoThat's nonsense. So long as we're talking about the mechanics of the idea, which is implicit when talking about a business plan, then yes, you most certainly can invalidate an idea. Just because people would like to have something doesn't mean you can either produce that or make money selling it at the price point they'd like to buy it at. I'd like a hand-cranked machine that takes my daily garbage and spits out Ferraris in under 10 minutes and I'd like to pay $5 for this machine. I'm sure I can demonstrate demand quite easily. Will you fund it?
- johnrob 14y agoI was operating under the assumption of reasonable execution risk. If you can't even get the product out the door then you'll definitely fail. My main point was that it's hard to disprove ideas that are feasible and are something people want. To pursue such an idea is a gamble; to not pursue is also a gamble. I've unfortunately been wrong in both ways ;)
- lucisferre 14y agoAnd how would you arrive at that assumption? Generally speaking a simple business plan is what states those risks and explains these essentials of your execution plan.