Srinivasan on Market Research, Wireframing, and Design

This post is by David Cummings from David Cummings on Startups

Balaji Srinivasan has an excellent Startup Engineering paper titled Market Research, Wireframing, and Design that serves as a Startup 101 guide for entrepreneurs. The big idea is that starting a startup without deep thought, research, and exploration in advance is a poor way to do it. So much depends on the market, execution, and timing that more intentionality is needed upfront. From startups vs. small business to economies of scale to market sizing, there’s much more to selecting a great idea.

An excellent breakdown of the stages of the entrepreneurial journey:

StageWhat’s required to complete?Min Time
IdeaNapkin drawing of billion dollar concept1 minute
MockupWireframe will all user screens1 day+
PrototypeUgly hack that works for single major use case1 weekend+
ProgramClean code that works for all use cases, with tests2-4 weeks+
ProductDesign, copywriting, pricing, physical components3-6 months+
BusinessIncorporation, regulatory filings, payroll, …6-12 months+
ProfitsSell product for more than it costs you to make it1 year+++
Table 1 from the article

Srinivasan then takes the reader through ways to do market research using Google’s Keyword Planner and Facebook’s Advertiser Tools combined with landing pages, ads, and SEO. So much of what previously was guessing and gut checks can now be assessed and analyzed fairly quickly. Again, entrepreneurs should do the work before choosing an idea haphazardly.

Finally, the author goes through how to think about pricing and packaging, wireframing, copywriting, and design — all critical elements (Read more…)