questions for MSH: Phase 3 - Turning your idea into a product

 

First of all, I have to apologize.  I’ve heard from those of you of who are following along with our ‘Questions for MSH’ posts and sorry if you’ve been CHOMPING AT THE BIT to find out what to do next.

Okay, so let’s get to it!  You’ve got your doodle and you’ve got your "big picture" of your idea!  This is a great place to be and I’m sure some of you where able to find your way on your own (which, for the record, is great!)  Now it’s time to get this party started!!

WHAT is the product being solved?: If you're not solving a problem, there isn't an ongoing, sustainable business.  I know that sounds a little cold seeing as how we're talking about your baby, your idea, your passion so let's talk about it broadly.  This is where things come into play like trends or fads.  Simply "wanting" to build something is fantastic and, cause we love making shit happen (as we've said in the past) we can guide you through the process.  This is the point however where you need to make the distinction between an "IDEA" and a "BUSINESS" 

HOW is your product the solution?: We've talked about this before, let's say your idea has spawned from you seeing a need somewhere.  ....You can't find what you need on the market ....There is nothing out that's of a good enough quality for you ...You can see a combination of two products REALLY making a difference. Any of these reasons could be how you plan to solve a problem.   The REAL nugget of information to grab hold of here is Go Above and Beyond!  This is where MSH lives up to the name!  If you can firmly answer this "HOW" question, you'll blow past any competition and you'll be on a rocketship to the moon!

WHY do you want to do this?: These are real reasons, reasons that are going to be different for everyone.  Are you in it for the love of your industry? Are you in it to make a profit? Are you in it because you want to change something? Are you in it to make your stamp on history? Whatever the reason (or combination of reasons) is fine.  You just need to KNOW what that reason is before you start to move forward.  Look inside yourself and do some soul-searching.

DO your research: Yeah, I know we already mentioned this but.... RESEARCH RESEARCH RESEARCH! Research your competition. Research the space you want to get into. Research the history of the industry.  Research what you think your path should be. This is one of the spots that MSH is fantastic because we have a deeeeeep knowledge in all types of industries, with advisors and mentors that have been working in this space for years and years and years.  Remember DO YOUR RESEARCH!!!

FINAL PRODUCT: A PRODUCT PLAN: Blammo!  You've got a product plan!  Let me use an analogy for a second, let's imagine (just to illustrate a point) your 'idea' as a car.  You've built a fantastic car now, you've kicked the tires and given it a wax job.  Your product plan is the road.  It's how you plan out your route.  This is how you don't get lost along the way.

MSH is your travel guide.  And your mechanic. And your travelling partner (if you want one).  And that entire journey can get started at our Hack-A-Thon.  So sign up now and join us!!