Most startups will follow the traditional product development model:
- define a concept
- develop a product
- alpha/beta test
- launch and ship the product
This is akin to fire, ready, aim, and it is flawed.
The greatest risk is not that you will fail to develop your product—the greatest risk is that you will fail to find your customers The focus of an early-stage company needs to be on learning and discovery.
Your first step is to find out who your potential customers are—get out there and talk to them—and find out if the problem you intend to solve is important to them. Next you need to actually sell to these customers, validating the sales cycle. Only then will you have enough information to begin developing your product, and building your company.