How do you validate the idea of your product?
Brajendra Kumar
11 replies
Replies
Ishansh Singh@ishansh_singh1
Start by defining the problem and the different solutions that you can think of.
Eliminate solutions that make the problem worse or marginally improve it.
Validate the problem and top solutions with a set of target users.
Once agreed start working on the solution.
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Ideally your idea is addressing a problem someone has. If that is the case, then you speak to those people who have that problem :)
You speak to them before having a product, while building it, and after every iteration. And you understand if this helps their life, or if it doesn't you try to understand why.
Hope this helps!
Restate your idea as a hypothesis.
State assumptions that need to hold true for that hypothesis to be true. (writers want to save time on their idea generation --> chat gpt)
Develop an experiment. Here it becomes more tricky, really identify what you need to learn (based on the assumptions) and how can you validate (what metrics to use). This is mostly done via interviews. Then you need a Prototype/MVP (this needs to be done fast, otherwise you lose time).
Ask 100s of people if they'd use such a product, what time they'd spend on it, and how much would they pay
Check out the competitors. Evaluate how much the product you want to create is better than theirs in terms of design, features, services, pricing strategy, etc.
This is in fact one of the very first steps that everyone who wants to create something should do.
I guess, just talk to as many users as you can is the right approach.
Create a paid version for your product. People's attitudes shift considerably when asked for money.
So to check if you're on the right track, charge them. Otherwise you'll be dealing with a lot of hot air.
You can validate your business ideas for free with this tool I have just released: https://www.checkmyidea-ia.com/.
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Hello there,
You're right! Idea validation is indeed vital. Here's a pragmatic approach to ensure the viability of your idea:
Start with understanding your potential market. Who are they? What are their needs? This understanding is fundamental to shaping a successful product or service. Then, examine your competitors. What are their strengths and weaknesses? Identifying opportunities can give your idea a competitive edge. Also, keep track of industry trends to stay updated with market changes. Lastly, always value and use feedback - it's essential for the continuous evolution of your idea.
AI tools like ProductValidator or CheckMyIdea-IA can significantly assist with this. They provide a comprehensive assessment of your idea, offering actionable insights that can guide your decision-making process and possibly save you significant time and resources.