Here’s how you validate your awesome startup idea
An idea alone cannot make you an overnight startup success. The key thing is that your idea should solve a particular problem that people are facing in their day to day life. There are millions of ideas zipping through the thoughts of entrepreneurs and innovators across the globe every moment. But, only a very few ideas take off as they have the necessary thrust and impetus to soar high.
Lets say you have an idea now and want to go ahead with it. The next step is to validate before launching out on it. Validation of idea is the process in which you put your idea through others on the need for it and see if they would be willing to pay for it. This happens when your idea is still evolving and it has not fully materialized it. You can consider this as an exploration of the market and customer fit of your idea. You can do it in two efficient ways as below.
- You can talk with at least 5 strangers on the gist of the idea for the next 30 days. This way, you get 150 strangers without any bias or prejudice provide you their inputs which will most of the times be right
- Create a landing page by providing details on your product and see how many customers are willing to sign up 3 Steps to Validate Your Business Idea For FREE…almost – StartupBros
If you are able to convince at least 100 people with your idea (60% conversion) during idea validation phase, then you need to go for idea enhancement.
Idea enhancement is nothing but you identify a few stake holders who would be your future customers, discuss the idea with them, understand their needs and include it as part of your solution. The iteration keeps going till your idea gets into a solid shape. Now, you are ready to go for a minimum viable product (MVP).
Once people buy into your idea, you can then come up with a precise plan and go ahead with your startup. Don’t be in a haste as things don’t happen just like that. You need to understand what the customer and market wants rather than just thrusting your ideas across everywhere. Don’t shoot aimlessly and waste your hard earned resources!