Validation Methods for Your Startup Idea
Getting all enthusiastic about a recent startup idea that you came up with can be a thrilling experience indeed. Just make sure that this sudden inspiration doesn’t completely cloud your judgment. Making sure that others are as enthusiastic about your idea as you are is vital to your startup’s success. Otherwise, you’ll be left with just an idea of something that could’ve been refined into something much more concrete and viable.
In order to start your idea, take a look at these five validation methods that will turn your idea into reality.
Focus on the Problem
First of all, customers want to buy products that solve a particular problem they are having. For example, if they have a headache they get an aspirin. If they need something fixed they use duct tape and so on. Write down what your product is solving to see whether it is actually worth buying or not. Does it help them stay fit or make them look more beautiful? Does it improve their lives in any way at all? If you start with your product first and then realize it’s not really saleable then you’ve wasted a lot of time and effort for nothing. Always make sure the product or service you are offering is useful to customers in some way, otherwise, it’ll be extremely difficult to commercialize it once it is out on the market.
Got the initial problem-solving aspect of your startup all figured out? Great! Now it’s time to get some expert opinion on whether your startup idea is a future hit or a complete flop. Start by interviewing people in the relevant industry in question. Some of them have a lot of experience when it comes to launching startups.
Every successful entrepreneur had a few hiccups at first, don’t be afraid to try, absorb what they have to say and learn from them. One of the most famous entrepreneurs of today, Sir Richard Branson, once said “you don’t learn to walk by following rules. You learn by doing and by falling over.” Therefore, learn from experience, yours or that of others, don’t make the same mistakes others have already made in the past.
Conducting surveys is essential for making any reliable startup validation. With this method you want to test how much are people willing to pay for such a product or service, you are offering, as well as the numbers behind it, to determine if there is a genuine demand for it.
Utilizing well-paid surveys is the best way to ensure the validity of your startup and will provide you with some quality assessment of your product. In the filming industry, they do the same with TV shows where they first release a ‘pilot’ episodes to test the waters, and if the general public rates that episode high enough, then it will continue development.
These people are your future customers. It’s important to listen to their opinions or else you’ll find yourself with an empty market for your product.
Make a Mock Site
Another interesting method you could employ revolves around you building a ‘fake’ website to test the demand for the services you are offering. Similarly to how teachers prepare students at school by giving mock tests beforehand to prepare them for the ensuing test.
Create a landing page for your customers to arrive to, and inform them of the products or services you are offering, along with the prices and get them to sign up with their emails so you can use those later on when you create your actual website.
This is a great way for you to analyze concrete data concerning the traffic being generated by your startup. In addition, you should create an online store as well to check how many purchases have actually been made.
Finally, finding some fresh eyes to view your startup from a different perspective is always a good idea. Sometimes we get too close to something that we completely lose sight of it. We are simply too subjective to notice some obvious flaws in our design.
Ask your friends and family to help out and provide you with some constructive criticism. Hitting a brick wall should not be the end of your startup idea. Let them give you a hand and climb over it, together, and then proceed with solving the remaining obstacles.
Dealing with potential problems and setbacks, and planning accordingly will make sure that your startup is ready for anything. As a result, the feedback you get from them can be used to further enhance your startup. Start the validation process once again with this newer perfected version.
To sum up, having a neat idea about a startup is great. Don’t get carried away by the initial enthusiasm and validate it before you launch your startup. Leave no stone unturned and you’ll find yourself with a potential startup that could take the market by storm.
About the Author
My name is Alex Williams. I am a journalism graduate and a rookie blogger trying to find my luck. Blogs are the perfect opportunity for presenting yourself to a wider audience and showcase my expertise. I am a regular contributor to Bizzmark Blog. Follow me on Facebook and Twitter.