Should You Build a Prototype First?
I've seen a lot of people who are building their ideas without testing it, and spending a lot on marketing in a hope that people will come to buy it. Some have been successful with this 'Build It and They Will Come' tactic. Then, there are those who build prototypes of their ideas first and share it in popular crowdfunding sites to get supporters/backers. We also see some who have exceeded their funding goals with that approach even if the product is still a work-in-progress.
Which option do you think is better?
Let's say you want to build this fancy mobile app. Gartner predicts that over 268 billion mobile downloads will generate $77 billion this year. It sounds promising if you dream of developing the next shiny app out there. In reality, it can be a mousetrap. Just because you are building a better one doesn't mean the world will knock on your door. You might even get inspired by the Pokémon craze or dream of coming up with the next Facebook.
It can be any product really... so, it's a choice between:1. Build it first and work hard on marketing the final product, or
2. Build a prototype with a few functions and test how people will respond to it, then improve some more before selling it in the market
Both will cost time and money. It's a tough choice, I believe. Thoughts?