Mark Grob's Common Sense Rules for Working in XR.

I have worked in the world of Virtual Reality since 1996. I have done three Virtual Reality based Businesses/Startups since then. With each, I have gained great insight and learn some key lessons. I have also used these to help Venture Capital and Angel Groups evaluate perspective Investments in the past few years. With my current role in developing eXtended Reality (XR) tech, I find myself sharing these rules AGAIN with my coworkers often. So under their encouragement, here are my rules and I hope you find them valuable specifically for the younger generation that is rediscovering the Eurekas of XR.

Is this your order of importance:

No particular order, this is my ranting more so than a defined order. Feel free to message me if something is not clear or frankly "way out there". Maybe I will worry about that when and if I write a book. :-)

1. Get past the smoke and mirrors ASAP, lose your Tech lust and start being Realistic.
2. People do not pay for features they pay for content, except maybe your selling hardware and it needs to have multiple layers of features. eg. People will not pay for a Virtual Reality Workspace in itself (been there, done that myself), they will however buy hardware that works with the workspace if it provides value or eureka moment (impulse experience = vaporware).
3. A Real Eureka experience that is repeatable is required for a Long term product, otherwise, it’s just an installation/paperweight. Paperweights tend to collect dust in a few months or weeks.
4. Does the experience or product add long-term value? You're Augmenting a functional/repetitive part of someone’s life for the better? Smart Devices add instant data to our life, that's really why it has progressed as an industry. How will your product create a similar wave? Does it at all?
5. Will Grandma or Grandpa want to learn this product? Or do they push it away (Scale judgment)? If you left the product in someone's hands for a week and came back to get it back will they fight you to keep it? If they do, your on to a real product.
6. Will “Mikey" the Gamer pay for it or will he try to make a knockoff since he likes it? Price verse barriers to market.
7. Does your Core market have 80% of the features/solution already? Yoda "Do or Do not! No try! Yoda Test (trying is research, not product development).
8. Don’t over bundle your product (adding a computer, additional input devices), it could compromise your core product concept.
9. What is It that your consumer really wants? The extras could sway them from buying what they really like of your product.
10. Trim the tongue of your sales team, they can make product vaporware quicker than you think. Make sure all promises are true, any failure on function will mean customers will try to return it or never buy anything else you make.
11. Know the amount of money your consumer will truly spend. Understand that not everyone is a Leader in the new market you are building. $300-500 for an XR device may be more than the Majority is still willing to spend verse the content/function you are providing. Economy to scale still rules no matter how shiny you make your product… XR Industry needs to progress but it is a market that is “bleeding edge” not a Consumer Market (2021, update... VR may not be so bloody). You are building a product that is looking to leap the divide (I have the next thing for everyone)? The Money People and You need to be critical of this factor.
12. Get past the smoke and mirrors crap… be critical of your own product. You are capable of being your hardest critic. This is a Pro and Con of your perspective on your product, how you use it can mean your success or failure.
13. XR markets will always have a high turnover on innovation, you will fail more than you will succeed… learn from it.
14. XR is Intrusive Technology be careful how you implement your solution. Each person has their own level of “Acceptable Intrusion” in their Physical Life. YEAH your XR tech has some level of Intrusion into the physical being of your user. Not everyone is comfortable plugin into the computer to receive an “experience” or to work 9-5am every day. Know how your XR solution intrudes on the prospective user. How will help it affect your product grow long term? This is an area few product designers understand or get and is the primary reason all great XR ideas become Vaporware. VR more than AR relies on a very private interface with the user (head, eyes, hands, body… you get the picture). Be aware of this… it’s not just a smartphone app that’s being strapped to their face… if it is just that… vaporware.

Bonus Rules not related to XR:

1. People get funny when you start to make money. Kickstarters and indies are a great way to get your product into the hands of users. When things pick up, remember that others may have patents and other intellectual properties related to your product. They will be coming to you for their percent when you are perceived to have made it. Have a strategy ready when they come, it can sink your product.
2. Be wary of the fine print when you are at a Meetup (professional social gathering) or at an industry-related sponsored event that could showcase your product (hackathons, etc.). You are not provided any NDA assurances when you are participating in these functions. I have seen smart Ideas and unique products quickly replicated and lost by the original inventors over beer and pizza discussion. Your Peers in the industry are also your market competition, participating in your local groups is important for your career and reputation. But don't give your IP away for free, have some common sense and not ride your emotions.

Hope this adds something to your day or at least gives you a nice chuckle over the wine, beer, or morning coffee. 

Now go back to work and make that next thing that I will want to buy and augment my daily life. :-)

Cheers,

Mark