Enhance Product Validation with Pretotypes and Skin in the Game Data 

Enhance Product Validation with Pretotypes and Skin in the Game Data 🪄

We are fan of the book “The Right It”.

The fundamental argument of the book posits that the overwhelming majority of newly introduced products are highly likely to meet failure once they enter their intended market.

And as we all know, statistically, this is true. Over 95% of startups fail ❌

“The Right It” is any product or project that beats the odds of market failure ✅

The central point of the author is something I can agree with. Product development takes place in a safe haven.

The potential user is barely involved in this process.

He emphasizes that market research is useless when you want to validate your product.

The author then introduces the concept of ‘Pretotype’. A cheaper/easier version of the well-known ‘Prototype’.

A pretotype serves to test whether a product idea has any market potential at all. It’s a sort of reality check for your assumptions.

You do this by transforming your product idea into a testable hypothesis.

𝐇𝐞 𝐭𝐚𝐤𝐞𝐬 𝐭𝐡𝐢𝐬 𝐚 𝐬𝐭𝐞𝐩 𝐟𝐮𝐫𝐭𝐡𝐞𝐫.

The data you collect should have ‘skin in the game’.

This means that the feedback you receive is from individuals who would actually use, buy, or benefit from the product.

This could mean that they invest time, money, or other resources which demonstrates their genuine interest and investment in the product’s success or failure.

This book often revisits familiar concepts but emphasizes them effectively. Moreover, the author adds significant value with his innovative ideas on pretotypes and skin in the game.