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10 Ways to Validate Your Startup Idea

  1. Validate Your Startup Idea 10 Ways To Swarnendu De Innofied Solution @swarnendude
  2. You?
  3. Me.
  4. Got an idea. Now what?
  5. 1. Write down your product concept
  6. 1. Your idea 2. What problems do you want to solve? 3. What is your target market? 4. Who are your customers? 5. How does it solve the problems? 6. What features will your product have? Write down your product concept
  7. 2. Have a good domain expertise
  8. 3. Identify a good market to enter
  9. 1. Size of the market 2. Disruption/change in the market 3. Right time to enter the market Identify a good market to enter
  10. 4. Fake it till you make it
  11. 1. You do not always need a MVP in order to validate your idea. 2. Interactive prototype works well 3. Develop MVP with least effort possible 4. Delay complexity 5. Launch early
  12. 5. Go out and test your idea
  13. 1. Define the target audience 2. Start with your network 3. Recognize your ideal customers 4. Feel free to share your idea 5. Asking friends and family is not same as validating your idea 6. Liking your idea is not the same as buying your product Go out and test your idea
  14. 6. Analyze the data. Repeat.
  15. 7. Sell before you build
  16. Helps in: 1. Gaining confidence 2. Winning a real customer who wants a solution to his problem 3. Testing the product 4. Having a deadline in mind 5. The customer leads the development often Sell before you build
  17. 8. Investment is earned….not given
  18. 9. Have passion & focus
  19. 10. Personal development
  20. 1. Create strong online presence 2. Write blog posts 3. Use LinkedIn 4. Know the technology a bit (if you are a non-technical founder) 1. Know Marketing 2. Learn Analytics 3. Networking / Events Personal Development
  21. 1. Document your idea 2. Gain domain knowledge 3. Identify a good market to enter 4. Create an MVP with least complexity 5. Go out of the building and test your idea 6. Try to get a customer before you start building the product 7. Analyze the results. Iterate. 8. Probably you don’t need funding immediately. 9. Have focus and passion 10.Invest in yourself Summary
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