What methods do you use to validate your startup idea?

1. Research the market to see if it is a liable idea 2. Go on groups, forums and PH to ask the audience and gather opinions 3. Talk to experts & see use cases 4. Perform competitive analysis and SWOT analysis 5. Launch a beta version to gather feedback and get user insights 6. Optimise and repeat

This is an interesting, watching and listening for now!

Customer interviews. First the qualitative and then a quantitive survey. It's time-consuming but better than developing something nobody wants.

1) think as niche as possible early on. You won’t get a consensus of unmet needs across disparate roles/verticals/sizes 2) recruit advisors. Unearth desperation from their day to day - and willingness to pay to solve 3) test and iterate to find the 2-3 major problems you’re going to solve. This should be a process of elimination vs. trying to cover all bases 4) convert advisors to early adopters of your MVP, use their success as market credibility

Engaging with community and taking regular feedback

There is lots of value in the previous comments. For me it's a three-step approach: 1. qualitative interviews and observation: take your time to understand some users/ customers and their problems. Talking to a real person for 15 minutes will be worth 15 days of online research. 2. quantitative hypothesis validation: try to invalidate the hypothesis you have after step 1. If you fail: it's a good sign. 😉 3. make your first cash before building: sell the very early MVP with minimal building effort. (e.g. sell early bird tickets or set up fake check-outs on a landing page) Paying customers are the only people you can trust! :)

My algorithm: 1. Talk to potential customers 2. Check competitors 3. Check Google trends and social media 4. Create a landing page or MVP and try to get the first sales

I wrote a blog post on how to apply the Generative Research methods before you even begin building a product https://www.envsion.io/blog/why-... Reckon it would be a useful read for you.

Having advisors that have the potential to also be your first customers. They will hold you accountable for product/market fit viability, and they will come to conversations with a perspective as business owners. While also, in my experience, maintaining a trusting relationship to experiment and try new things that are outside the box. I'm very fortunate at CHFTY to have advisors from various F&B roles: high end chefs, fast-casual restaurateurs, and CPG founders.

1. MVP - Minimum Viable Product 2. User Testing 3. Feedback Loop 4. Metrics Tracking 5. A/B Testing 6. Market Research 7. Customer Interviews 8. Competitive Analysis 9. Landing Page Testing 10. Prototyping.

1) Build a simple landing page clearly communicating what problem it solves 2) Share on various targeted groups on Slack/FB/Discord/Sub-reddits etc... 2) Ask visitors to sign up if they'd like to know when it launches 3) Depending on the response, start building 4) Keep them updated on your progress 5) Ask for constant feedback (features, pricing, etc...) 6) Look at competition (it's healthy to have a few, which in itself is validation)

I first look to see if it is solving a problem that the mass audience I am targeting is facing. (In other words, I first analyze whether my idea is impactful or not?)

One idea I haven't seen here yet is to try marketing the idea wherever your target market might be with the CTA "Join the Waitlist". This is a great way to see if your product concepts are interesting while building a contact list of qualified leads for when you launch. What do you think?

We verbally pitch it as if it already exists and we ran across it. Effectively a third party recommendation on something that’s our idea. If we get an overwhelming % that want more info, we have a good idea.

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.