I would like to add one more requirement - a problem is not enough.  
Businesses always have problems.  Your solution may solve one or even more 
of them.  BUT....   you are better finding their needs.  When you can 
provide a prospect with the solution to their needs you can make sales.

Also, a want does not equal a need.  ie. I may really want something... but 
there are things i really need.
 
Your sales and marketing activity needs to capture wants, as well as needs 
and be able to distinguish between them.  Wants are differentiators between 
competitors, but needs get you to the table.

Common mistake - a great idea, great solution, solves a problem , is 
cool.... but if your market plan for the product hasn't identified what 
initial customers have a need that you solve, you can a) burn a lot of cash 
having nice meetings and b) not make sales or c) make sales but over a long 
cycle as you turn the volume up on the wants.  In some ways that's what the 
whole lean startup movement is about - via small measurable experiment, 
find the people that have a need that think what you offer is the solution.

so... if you are coding hard now, and haven't identified (by asking them 
and talking to them) who has a need...  find those people now.  if no one 
is doing that full time, then stop coding and do it.  get a simple demo  , 
a 4 page power point and find those people.  and LISTEN to them about their 
needs and their wants.  then build the MVP around the needs.

that's my experience... yours could have been different.

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