Mike Sirius’ Post

How to check the idea? I want to try a new business idea, I'll write about it later. I had faced with a problem, I must test the idea. I read more about it. Did you know that a staggering 42% of new product launches fail due to inadequate understanding of the competitive landscape? Understanding the current size, estimated at $X billion, and anticipated growth trajectory is fundamental for gauging potential demand. It's important, because if you open a small business, You have to understand the development perspective. Maybe your product will be useless in the future.60% of new product launches result in failure. Thorough market research can help mitigate risks by identifying potential pitfalls and allowing you to course-correct before it's too late. #startup #marketresearch

Is the rush to hit the deadline keeping your team from validating ideas before development? You put so much effort into making a product, Hours and hours of brainstorming Questioning every bit of idea Finding a team to design it Finding delivery team Rushing them Going through endless meetings, sharing your passion with the team Squeezing that extra dollar to make your dream happen And after countless hours and days Stressing out about your startup Reality hits hard You launch And Nothing. No users. No traction. No conversion. Nada Where did it all go wrong? You missed the validation part. You missed the product-market fit part. You fell in love with the idea and you went all in. You built a product based on the assumptions you made. You were busy chasing the deadlines instead of talking with users to validate ideas. I've been there. As a founder and as a Product leader. This is why I started talking more about Product Discovery. This is why I started consulting startups on how to find Product Market Fit Because I've been there. I've felt your pain. And I can show you the way out. I have 2 open slots for March, let's talk 📩 #startup #productdiscovery #productmanagement #productmarketfit  

Want to ensure your startup's success? Take the "Startup Success" review to assess your product development, marketing strategy, team building, time management, and customer validation skills! Click on the link in the comments to get started: 🚀 #startup #innovation #founder

Why your startup product might flop: 1. Spend months developing without ever reaching out to customers. 2. Assume users will magically flock to your product. 3. Focus on scaling up before earning your first dollar. 4. Invest in flashy technology instead of practical solutions. 5. Create a "fantastic" product that addresses no real need. #startup

Are you navigating the murky waters of product-market fit? Here’s why you could be missing the mark: Finding that sweet spot where your product resonates with a market need seems more art than science these days. Many startups rush towards scaling before truly understanding if their product solves a significant problem for a large enough audience. The result? Burned through capital and back to square one. Let’s talk strategies to avoid this pitfall: 1. **Iterate relentlessly** based on user feedback, not just intuition. 2. **Market validation tests** should be your best friend - use them early and often. 3. Deep dive into **data analysis**, because numbers often reveal truths opinions don’t. Remember, achieving product-market fit is not an overnight success story but a process of constant adaptation and perseverance. Have you ever pivoted drastically based on market feedback? Share your stories below! #productmanagement #startups #marketfit

Medial is a starup social platformfor like- minded people. It enables users to read startup news , have discussions, connect and message others who share similar interests. Starting a new business involves a series of steps to transform an idea into a viable enterprise. Those includes : 1.Idea Generation 2.Market Research 3.Business Plan 4.Validation 5.Funding 6.Legalities 7.Branding 8.Build your team 9.Product Development 10.Launch 11.Growth and Scaling 12.Review and Iterate #enterprise #innovation #startup

Do you know that even the best product managers can make these common mistakes? 👇😥 Avoid these pitfalls and create a winning product strategy. #productmanagement #strategy #success #productdevelopment #business #tech #startup #innovation #aradhyamudgal

🚀 Unlocking Growth Potential 🚀 One of the most insightful frameworks I've come across for evaluating a product's growth potential comes from Sean Ellis, a renowned growth expert with experience leading growth at several Silicon Valley startups. Here's a simple yet powerful question to gauge your product’s impact: "Would you be disappointed if this product no longer existed?" If over 40% of users respond with a resounding "yes," then you know you’re on to something big! Understanding and leveraging this metric can be a game-changer for any growth strategy. It’s about creating products that truly resonate with users and is key to cracking product-market fit. #GrowthHacking #ProductManagement #Innovation #UserEngagement

Early stage startup going to market? Focus on key channel(s). Options - unlimited.  Focus - required. Nail down the 1-3 channels that work. Analyse you customer’s journey, pick your best, and get your first version in front of them. Test and learn every week. You need to think small and agile, learn from the big guys, but don’t blindly try and replicate. Their ways most likely won’t work for you. 👊 Startup founders: Tailor your GTM strategy to your startup’s phase. Early? Focus. Growing? Optimise. Scaling? Dominate. Let’s make it happen! The world needs you.  p.s. I’m working on a larger, in depth GTM piece for d.labs, stay tuned. #GTM #startups #product #discovery #marketing

You don't need a finished product or even a prototype to start engaging with customers. If you have a problem to solve and a compelling story to tell, you're ready to begin. In a startup, experimentation is key. Each client interaction helps you learn, adapt, and refine your approach. Over time, you'll improve and hone your message. So, start early and keep the conversation going. And yes, never stop talking to them #startup #product #experimentation