“There are no rules here – we’re trying to accomplish something.” – Thomas Edison
We set out on the journey to pick an idea. A white board. A red, a green and a blue dry erase marker. And 30+ sloppily scribbled ideas. Here we go…
Two hours and 26 minutes later we emerged with 3 ideas – or at least general ideas of products to sell.
The goals we laid out for the day were to:
- Choose a product idea
- Discussion validation goals and time limits
- Discussion possible validation channels
The idea selection process was lengthy. We talked through the ideas and kept narrowing them down based on different criteria such as do we know anything at all about the industry, are their legal issues that could hold us up beyond our 30 day goal, is there a proven model that we can implement, do we have connections in a given industry, etc.
After 4 rounds of crossing out products, we eventually ranked our final 8 products.
- Beef jerky subscription (stolen from Noah Kagan)
- Coffee and/or tea product subscriptions
- Fitness foods focused on specific eating habits such as Vegan, Paleo, etc.
- Healthy energy drinks
- Branded entrepreneur-type apparel
- Online courses
- Beard oil subscription
- Water in a biodegradable bottle
We decided to take an evening and research the top two ideas since we haven’t worked in either of those industries (and maybe because we were a little burnt out).
We didn’t get to items two and three on our checklist for today, but that’s okay. We said days 2-6 were for validation. And today was just day 2.
We’ll see you on day 3!