Learning Domain Knowledge
I have an application idea that I want to bring to life as a solo developer that I think will be useful for some people. The problem is that the idea deals with handling client assets / money and I do not have any background in law. I am not sure how to proceed with my idea when there is such a large uncertainty.
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Should I be reaching out to people with legal domain knowledge or try to learn it myself?
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Will I be digging my own grave if I mess up some parts of the legal area that I am unaware of? (I most definitely don't want any users to lose money because of problems on my end, but at the same time would like to reduce any liabilities that may occur.)
You must talk to the people that are your potential customers because you're an outsider of the field. What you want to learn is if the idea that you have is actually a problem:
I highly recommend reading Talking to Humans and The Mom Test before going to interview people about your idea.
Thanks for the detailed advice! What you're suggesting is to first do idea validation first to verify whether or not what I'm trying to build is even worthwhile? I'll definitely check out the books you've suggested!
Absolutely! Why build something that no one wants? You're just going to waste time and money, and you're going to have a very hard time selling it :) Better learn early is you're on the right track. It's also much easier to sell if you build something that solves someone's problem(s).
Btw, if you're interested in talking about idea validation, I've offered some of my time for free to the IH community here: https://www.indiehackers.com/post/i-will-help-you-validate-your-business-idea-for-free-a548535bcf