Tweet this: 5 Pitfalls to Avoid When Performing Market Validation http://wp.me/pXBON-2Ui #prodmgmt #research #startup
By Saeed Khan
Travis Jensen, over at the Software Maven blog has a post covering 5 ways you can get into trouble when performing market validation activities. He compares these activities to scientific experiments, where the outcomes depend on what you’re trying to prove (or disprove) as well as how you go about conducting your experiment.
In high school, most of us probably learned about, or at least heard of the Scientific Method. For over a thousand years, starting with the Arab scientist Ibn Al-Haytham, who is widely credited with establishing the scientific method, the focus of science has been seeking the truth. That should be our focus as well when performing market validation. As Jensen writes:
“Scientists and philosophers have spent countless years understanding how to make rational decisions. Knowing some of the common traps that lead us to make irrational conclusions is the first step.”
Jensen lists 5 ways that we can get ourselves into trouble.
- Confirmation bias
- Appeals to authority
- Misaligned motivations
- Overconfidence
- Familiarity
He explains each of these with examples. Overall, a good read and a great reminder that there is indeed real discipline required as we do that part of our jobs.
Check out the full article: Software Maven – Fallacious Product Management.
Saeed
Tweet this: 5 Pitfalls to Avoid When Performing Market Validation http://wp.me/pXBON-2Ui #prodmgmt #research #startup