How to validate your startup idea ?

1. 10 ways to
Validate Your Startup Idea
Vithushan Vijayaratnam
Yarl IT Hub

2. Got an idea. Now what ?

3. 1.
Write down your product concept

4. Write down your product concept
• 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?

5. 2.
Have a good domain expertise

6. 3.
Identify a good market to enter

7. Identify a good market to enter
• 1. Size of the market
• 2. Disruption/change in the market
• 3. Right time to enter the market

8. 4.
Fake it till you make it

9. 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

10. 5.
Go out and test your idea

11. Go out and test your idea
• 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

12. 6.
Analyze the data. Repeat.

13. 7.
Sell before you build

14. Sell before you build
• 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

15. 8.
Investment is earned….not given

17. 9.
Have passion & focus

18. 10.
Personal development

19. Personal Development
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

20. Summary
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

21. YGC Senior
YGC Senior of Yarl IT Hub
Application opens in 2 months
Competition November 2,3,4th in Jaffna
https://www.facebook.com/yarlithub/
http://www.yarlithub.org/ygc/