If you were like me, you’d be coming up with an idea every other day. Just how do you make sure which one would make it for you then? The way to go is to have them validated.
No idea is a million-dollar one unless it becomes one. When I say becomes one, it means that there are enough customers out there who buy into your idea and give you business worth a million dollars.
The challenge though for any aspiring entrepreneur is to ascertain whether the startup idea that they have will cut it for them or would they just be chasing a wild goose.
One of the best ways for you to know whether your idea works or not is to take it to your customers. Share it with as many people as you can. Ryan Paugh, Co-founder of YEC says “The best thing you can do is just share your ideas with people. A lot of entrepreneurs avoid this because they are worried that others with steal their ideas. This is the wrong way to look at things because most people could never execute correctly on a good idea that you had.”
You receive first hand feedback. So take it to your network. Take it to your friends, friends of friends or your family. But it is also important to validate your idea with those who are expected to buy your product – your potential customers.
Dan Martell, Founder of Clarity says, “You should call 10 potential customers to get their feedback, or maybe try and sell 3 customers the idea before you build or do anything.”
But the question is, how do you make your customers see your product idea the way you visualize it. It may not be easy to make them see the product in the right light unless you can actually show something.
Put out something that offers the core value or your product or that solves the core problem of your customers. Build a Minimum Viable Product or an MVP.
The MVP could be a PowerPoint slide, a dialogue box or just a landing page. This is something that you can often build it in a day or a week.
While you’re building on your idea, you must not forget what separates great businesses from the mediocre ones – they all solve a unique customer problem. Now this could be your own problem or someone else’s. Dan Martell adds, “You’ll always hear people say – and I totally agree – it’s best to solve your own problem, one you have yourself, as well as one you’re passionate about.”
Now if you’re starved for ideas, the good news is, you don’t need an idea to startup. As you just read, the best businesses ideas are the ones that solve a problem. So essentially, you need a problem to start with. Here are ways to arrive at problems that can potentially become successful ventures.
Martin Zwilling, Founder of Startup Professionals, Inc believes that most good people who know how to make things happen can take a mediocre idea to success, while “idea only” people can’t make their best ideas into a business. “In general, bad ideas are ones that violate the fundamentals of business – like a solution looking for a problem, no proven market, or a business model that has more cost than revenue,” he says.
Do get started with your ideas and have them validated. But remember, ideas are useless unless you execute them. If you have an idea that needs validation, I’d be happy to help you. Simply email me with the details.