How Do You Entrebrahneurs Figure Out If An Idea Is Worth Pursuing?

[JJJHS]

I've got the entrepreneurial itch that I need to scratch, but not wanting to pour my life-savings into some half-hearted crap that'll make me go broke.

Right now, I'm looking into creating an app that will use machine learning to "automate" the personal training process (with premium options to connect with actual human trainers in real-time). It'll have a ton of features for both serious BBers and PLers, but also the simple cardio bunnies and resolutioners.

I'm not quite sure if it's a good idea. I fear that:

1. It's just a crap idea that no one will pay even $0.99 for
2. Even if it's a good app, no one will know about it, so it'll be a bust
3. People will see the whole automation thing as gimmicky and not legit
4. It won't attract the right crowd, so my audience will be severely limited.

How do I curb these fears? I know I could write the app and see what happens, but that's a lot of time, effort, and money for something that is a complete unknown. I know many people post their ideas online to get critique, but most places (like here, r/fitness, etc.) either hate, or outright ban, market research.

So what do you entrebrahneurs do?

[JJJHS]

Give me the secret sauce, brahs

[PowerD]

How could you pour your life savings into programming an app?

[iloveus]

CENTS:

Control-Do you have complete control over your idea? Is there something or someone killing your idea?

Entry-There needs to be a high barrier to entry. The more difficult it is the better the opportunity. Solve problems and add value

Need-Does the idea solve a problem or provide any value to others?

Time-Are you able to remove yourself from the business and have it still make you money?

Scale-Is your idea replicable? Can you grow it? Can you have others implement your idea?

[whitepaper]

As cliche as things may sound, they are in fact how things work best in the software world, generally speaking.

Create an MVP, do your best to get it into the hands of what your ideal end user is (that's likely the hardest part of this initial process), get as much feedback as possible, don't waste time going down the wrong path of something you "think" people want, flush out what feedback tells you would be a generally complete (not perfect) product. Launch.

[guest89]

Think of an item there is a market for before you try to develop/sell it. As opposed to developing a product and then trying to find people to sell it to, hoping they want it.




So I know a guy that invented a tool that's used in the oil field. He didn't start inventing tools and then go around trying to sell them. He identified a problem. Developed a tool to solve that problem. Then marketed said tool. He sold the patent to a major company. Multi millionaire as a result.


I actually think he made millions before that idea as well. But that was a side hustle/fun project in his spare time. I think he made around 3 million on the patent.

[beertank23]

I'd just add doing keyword research to see if people are looking for that thing. Do Amazon searches.

[samsbolton]

1. Your idea is crap, it’s an over saturated market
2. No one ‘knows’.. you just give an idea a fair shake, then move onto the next one. If it requires you pouring huge amounts of cash you don’t have into it..get a backer or move on.