Validate Startup Ideas Lean Process
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The document provides information about validating startup ideas through a workshop on idea generation and validation. It discusses generating ideas by thinking about problems, observing missing things, and doing something uncomfortable. It emphasizes validating ideas by talking to potential customers without pitching, listing assumptions, and using the Delta-4 theory to check if an idea increases efficiency irreversibly with high tolerance. The process of validation involves creating minimum viable products and selling to do customer development.
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Validate Startup Ideas Lean Process
- 1. Ideas Short Workshop Startup Saturday IIM Kozhikode
- 4. Rules Don’t judge Stay hungry, Stay foolish Switch your mobile phones to silent mode Participate 100%
- 5. Pledge Idea has no value I am NOT the customer I won’t fear idea thieves
- 6. How to Find Ideas?
- 7. Think?
- 8. The Uncomfortable What troubles you? What do you hate? What do you fear?
- 9. I wish moments... During Gossip Coffee machine chats Casual Jokes
- 10. Observe Things missing today Things missing in future What’s replacing what?
- 12. Do Something
- 14. Why validate ideas? 26 Major startups shut shop in 2016 55% Startups were funded
- 15. Why validate ideas? 21% fail due to Team, Personal withdrawals 18% fail due to Funds/Money 61% due to lack of leverage - Created something no one wants - Out competed/Poor strategy/marketing - Did not Pivot - Constraints: Location/Legal
- 17. Force Fitting The natural way…
- 19. Process
- 20. Process
- 21. Process
- 22. Process
- 23. How to validate startup ideas? Who else is working on it?
- 24. How to validate startup ideas? Lean way: List your riskiest assumptions Talk to your Customers 1. No Survey please 2. Don’t pitch, don’t sell, don’t ask for feedback 3. Make them talk: Look for stories, hopes & fears
- 25. How to validate startup ideas? Think Primitive! Works well for app ideas Check How
- 26. How to validate startup ideas? The Delta-4 Theory by Kunal Shah (CEO - Freecharge) Is Delta(efficiency) > 4 ? 1. Is it irreversible? 2. Do you have a UBP? 3. Do people have high tolerance towards it?
- 27. How to validate startup ideas? Create MVP Do Customer Development Sell the Product