How To Validate Your Innovative Idea
At the core of every entrepreneurial minded individual there is a drive to create value for others. However, I fall into the trap of leaning heavily on the feedback of others. Feedback is important, but your gut instinct is as well. If you have a new innovative solution to a problem, chances are you might reach out to your friends and family to validate that idea first. Here’s the problem, their opinions could be bias and flat out “wrong.” Before you share your idea with those closest to you, ask yourself, “Are they my potential customer?” or “Who is my potential customer?” Then once you have found that out, once you have segmented your market, then approach your ideal customer. Even then, don’t share your grand idea, ask them questions, ask them what their pain points are, ask them about their habits, etc. Validate your idea with questions that don’t pertain to the unveiling of your grand solution.
I say this for two reasons. Firstly, you believe in your product don’t you? You should. And at first when you are looking for validation, the worst possible thing that could happen is for someone who just doesn’t see your vision talk you out of it. Stick to following your gut. Also, if you tell people what you are building, what happens if you don’t follow through? It leaves a bad reputation and a lot of explaining to do. Always under promise and over deliver as opposed to the reversal. Secondly, validation is important. It would be a huge time waster to pour resources into a project when you don’t even know if the product is worth investing in. So you have this grand solution? But do people actually want it? Care for it? Validate it. But make sure you are choosing the right people to validate your product ( your future customers). However, don’t state your solution in a very obvious way, there are idea thieves out there, but more importantly, you aren’t over promising anything. One more tip, don’t ask a potential customer if they would buy your solution. Buyers are liars until the moment they actually have to fork over a monetary amount. That type of feedback could misconstrue your market analysis.
So you have a great idea? Segment your market, the more niche the better, validate your solution through non-revealing questions, then get to work. Build your solution, refine your solution, launch the solution. Lastly, change the world.