Validate Validate Validate
I would like to imagine that we have all had that moment when you suddenly realize that you may have an idea for the next big thing. Depending on how obsessed you are with the idea, you may actually want to see if it truly is an opportunity to turn in to a business. Of course, deciding to look into it is the easy part. The real work starts when you try to validate the idea. Yes, I said validate. Meaning, you really need to find out if it not only solves a problem but who it solves a problem for and more importantly, will they pay you for your solution.
So how do we validate an idea? For starters, we do not want to rely solely on what our spouse, partner, or other family members tell us. A family is usually supportive but not always honest when it comes to telling you what they really think about your idea. For this, we need to ask people we generally do not know. There are so many ways you can do this but a couple that comes to mind may be online surveys or simply taking a clip board and walking up to strangers to ask them questions.
Remember, you are looking to see if your idea solves a problem and people want to pay you for it….and if it isn’t an idea people want, you will want to find that out sooner rather than later. The concept of failing fast is not a negative idea. It is a way to quickly find out what people really want, to make changes (pivot) on the ideas that you do have and do to it by spending the least amount of money possible. This is a lean startup concept and if you aren’t familiar with it, check out The Lean Startup by Eric Ries. If you want to talk more about how we can help you validate your ideas, contact us today.
Bryan Shaw, MBA – Founder of Scaleable Ventures, Inc, business accelerator director, co-founder of a couple of startups, realtor…. pretty much a serial entrepreneur. Like it or not, all views are my own. @BGoGolf