How to present a non-existant product for feedback from potential clients?

Question

We are just a team of software developers, not company or another legal entity. Although we are actively developing our product, it's still not ready for demonstration. However, we are a little far away from the problem domain and we would like to gather feedback from real companies who are our potential clients, to align our product vision with client's problem vision.

We found a company who is ready to look at our product/idea and give us feedback. Because we don't have a real product yet, we have decided making a video presentation with questions at the end. However, we have a zero experience in this type of activity.

How can we gather feedback about a product that isn't ready to demonstrate yet?

Answer 1

Can totally empathize with your situation. This is where the approach of MVP and Mom Test validation comes into picture. I can share what we did when we were pre-product. We identified 10 companies in our friends network who we knew might be facing the problem we were trying to solve. Based on the hypothesis, we had made some initial designs to explain how the workflow would be built and how it can solve their problem. On the call, we would do 3 things:

1. First ask questions on what their problem area was, what the target persona's jobs in a day were, and without our tool, how were they solving their problem? All this has to be asked without showing your product, and without giving them any hint on the solution you have built.

2. Then we show the solution - it can be the screens or the video you have created, and try explaining how and why you think this can solve their painpoints.

3. After the demo, you have to intelligently ask the feedback questions in a mom test format. Google it if you haven't heard it before (It's a very useful way to draft your questions). Nobody wants to say no to you on your face, so people tend to be polite while sharing feedback. But if you draft the questions, correctly, you can get out the criticism from them in their replies. You should guage if they really need this product, or if their problem can be solved in a much simpler different way. Getting this feedback initially helps you a lot in the long run. Instead of wasting time on a wrong problem, you can pivot quickly with this approach.

Repeat this process with atleast 10-15 prospects to get a concensus on your designs. Hope that helps.

Answer 2

Define a "Minimum Viable Product" for Validated Learning

If you're looking for a methodology, you're probably looking for a way to present a minimum viable product (MVP) to your investors or potential clients. The exercise isn't about what you present, it's about why you're presenting it.

You can't actually sell something you don't have. The goal of an MVP, on the other hand, is to gather feedback about a concept, approach, or potential market fit for an idea by doing the minimum necessary to gather that feedback. This may include wire-frames, mock-ups, pitch decks, or narratives as needed.

Market analysis is largely outside the scope of project management, and individualized advice on how to do this in the abstract is too subjective to make for a good PMSE question. However, there are certainly many books on the subject of market analysis, MVPs, and various lean startup approaches that could help. Such books should provide plenty of resources to consider as you define the approach that's best for you.

Answer 3

you can effectively present your non-existent product concept to potential clients and gather valuable feedback that can guide your product development process and increase your chances of success when you eventually bring it to market.