Conor McCarthy

Is Idea Validation important to you?

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I've been going down a rabbit hole recently around idea validation. In the past, when starting a business of project, I have done everything from blindly pursuing the idea until something worked (often hard) right through to doing a more formal testing of the idea (worth it but harder to be objective). I'm curious.…How do PH people do idea validation? If you have a great idea, what are your next steps? Edit: there have been some really fantastic thoughts and suggestions here! Starting with the end-user in mind is key, in an effort to understand their pains. I'm still curious as to how to ascertain market demand. Where do you go to see potential demand for an idea?
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Jerome Biotidara
I think it's a question of how much resources I need to sink it to it. If the scope of the project is wide and prospects of the ideal market situation is huge then yeah, I'll need to validate it. Otherwise, I think I'd try to get something out there ASAP.
Alfredo Marchant R.
you should talk with the sales guys. We normally known what the customers want or can easily ask our customers about your idea. Give me a buzz a will happily help you +56992997018 (whatsapp)
Conor McCarthy
@marchant74 Thanks for the offer Alfredo!
Sterling Sansing
There is a saying, if you have an idea other people have that idea too. The same can be said that if you have a problem then other people are having that problem too. So if you have a solution for a problem other people will buy your solution...If you market it right. Sometimes a solution is already to market but they have not properly marketed their solution properly so there is still a gap to fill. I'm just rambling though
Adam James
im going to say that 99% of the time the only way to validate is to get a customer to pay you.
JESUS VERMA
Idea validation is like you have a weapon and a target which you want to hit. Now you want to validate whether your weapon will hit the target or not. May be for that target may weapons already available in the market but there is always be a loop hole and you have to fill that loop hole for gaining the traction.
Stephen Vincent Casaceli II
Build a community around the product or problem youre solving. Foster the community and have chats. Get people engaged and add relevant content. Skip cold sales by making your sales way warmer. Sales is a tough game but doesn't have to be impossibly dehumanized by building and hoping someone shows up to your landing page to capture their email.
Conor McCarthy
@stephenvincent Love this "people first" approach Stephen. Have you done this yourself? How would you start to build a community around Idea Validation for example?
Fritz Brumder
Here is my take - The lens I use is my own personal curiosity. I have a lot of ideas, but only a few that I dive in to really educate myself about the space/opportunity. If after doing some learning I am still curious, then I will create a "Practice" of sorts. I am a sports person so it's like going out and hitting 🏌️‍♀️ (I am not actually a golfer:) but you get the point. The practice includes a prototype (especially if there is a tech hurdle to confirm the idea is actually possible). Practice also includes pitching the concept to peers and potential customers. Does it feel right to talk about it? Are they interested? If the product makes it through this phase, then I quickly switch to growth. Can I get the product to gain traction? Sign early customers, build enough of the vision to have people try it? Are basic metrics trending up? If it passes this stage, then I circle back to education and learning to refine what I encountered the first time through this process. That should lead to more growth and so on... Hope this helps and makes sense. ping me if you want to see a graphic I created to share this concept with my team - Education>curiosity>practice>growth
Conor McCarthy
@fritzly Wow Fritz, this is super interesting. You have out a lot of thought in to this. Thanks for sharing them here. How do you get truthful statements from people when you talk about it at first? People will always try and be polite about your ideas, so I'm curious as to how you get real feedback? And yes, will ping you for the graphic :)
Fritz Brumder
@conor_mccarthy At my last company (www.brand.live) we used to say "let's punch them in the face if they say it is cool." We needed a real reaction that helps us identify their need. I think the answer is to interview/demo a range of people from those you know to those your are trying to sell. Their reaction can help but their follow up and initiative to use the product is far better proof. You can reach me at fritz.brumder(at)gmail and the graphic version is on the homepage of my passion project site: https://www.magic-middle.com/
Conor McCarthy
@fritzly Love that idea :)) - and yes, such a great point. Follow up is the key here, well said.
Okiti Akpesiri
In the business of generic drug manufacturing, not being the innovator brand requires your products to be validated viz your manufacturing process, analytical process. But this can only be achieved with a better understanding of the target market's buying power that will inform choices and regulatory laws. Not following through will result in poor reception of product, not getting the product to the market due to failed regulatory complaince issues, and below par manufactured product. I hope this gives an insight to how valuable Idea Validation is key.