Startup Idea Validation
- 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
- 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/
Editor's Notes
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