NoCoders – How do you decide which ideas to build?
Hey hackers, 👋
I’m very curious: How do you decide what to build and whether it’s worth building?
What does / did your process from idea to profit look like – from the perspective of creating a side-hustle and eventually financial independence?
I think it would be valuable for other IndieHackers to see and learn from your answers!
Please share below.
Thanks in advance 🙏🏻
I usually select an idea based on FRM analysis.
F - How frequent a user need to solve problems?
R - When was the last time prospecting user come across the problem I want to solving
M - The monetary potential
That's a cool heuristic Felix!
Keeping that one.
The idea itself comes from noticing problems that others like me have.
Once I come across an idea that sounds interesting to me, then I do a bit of structured evaluation where I ask myself a set of questions about the problem and the solution I have in mind.
If the answers point to an idea who working on then I would create a MVP to test my assumptions. This is where NoCode shines because you can build and learn quickly.
From here on it’s just iteration until I find customers willing to pay for my product, or drop the idea if I can’t get any traction with it or realise my assumptions are wrong.
I’m actually creating a guide and evaluation tool for the very first part of evaluating your idea. See gum.co/startstrong if you’re interested to learn more.
Hope that helps.
Farez
Thanks, Farez.
Sounds like you have a very structured approach.
Do you ever follow up on multiple ideas at the same time?
Can you give an example of how you might iterate to find traction?
Good luck launching your guide!
Cheers,
I used to work on multiple ideas until I realised it's bad for focus :). But I do have multiple projects running at the same time and these are projects that are already launched and running (e.g. markfolder.com and atworkathome.co are to of mine).
Iterating is basically noting down all your assumptions about why you think the idea will succeed, and then testing them one by one. E.g. For an earlier idea I was working on, a travel organiser, I assumed that solo travelers are the people with the problem that the product is solving. It turns out I was wrong, and actually couples and small groups did. So I validated the "who needs this" part and then moved on to validating the other assumptions.
Thanks for the wish. It's not quite there yet but almost!
Farez