Recently, I read a book called "The Right It" by Albert Savoia, Google's 1st Engineering Director. This book goes over a strategy to determine whether your product will thrive in the market (The Right It) or fail in the market (The Wrong It) through various different pretotyping techniques. I am to summarise the key pieces of information from this book within a single four sentence paragraph to test my knowledge retention.
The Summary:
To determine whether your product is the Right It, you must gain the opinion of the market through various experiments where the only valid data is data that is accompanied by "Skin in the game". Skin in the game is what someone sacrifices, be it time, email, money etc, to get something. The more skin in the game (the more they sacrifice) the more they desire the thing they're purchasing and thus the more likely your product is to be the Right It. So, get the pretotype (a sort of fake version) of your product and test it out on the market before committing months of your time to developing your product.
It was a bit difficult summarising that book in four sentences but, I tried. If you want a more extensive understanding of pretotyping and Right It hunting, I'd suggest reading the book.