This morning I was browsing through one of my favorite sections of the Wall Street Journal’s online blog named Accelerators . I came across a post from Venture Capitalist Paul Lee titled Sell It Before You Build It. What Paul suggest is something I have heard from many other experienced entrepreneurs as well:
When you’re in an early stage startup environment (where cash and time are so precious) don’t waste your resources in building out something without knowing there’s a market for it. Whether you’re building your first product or the next version of one, leverage the tools and techniques available to cheaply and efficiently collect market data.