Note to future self…
For the past 6+ months I’ve been actively thinking about ways in which you can build phenomenal products that have the potential to become market leaders. In the process, I’ve read, listened and taken notes on dozens of podcasts, interviews, and books and I started to realize that there are 5-6 frameworks or approaches that entrepreneurs have used to explain how they developed their product.
It’s important to note that these frameworks suffer from substantial hindsight bias but I still think that there’s a substantial amount of value in them for coming up with new insightful ideas so here they are:
- Core Problem → What core problem are you trying to solve? Simple.
- 10X → Make a product that’s 10x cheaper, faster, convenient.
- Magical → What if X was possible?
- 5-11 Star Experience → What would a 5 start experience for X look like? 6-11?
- Democratization → What is something that only rich people can do that now everyone can?
- Wave → What wave are we riding?
I will update this post if I come across any new frameworks.
Now back to work…