IDEA VALIDATION

What makes studying the potential of new ideas difficult is that it can sometimes be almost impossible to tell a difference between a good and a bad idea. Sometimes even the most bizarre ideas can turn out great. Think of AirBnb and Uber, classic examples of successful business ideas that people were skeptic about at first. There are also ideas that make perfect sense but still manage to fail.

Although everyone wants their ideas to be loved, only a fraction of those ideas are worth executing by your team. 

To learn if an idea has a chance to succeed, it needs to be validated.

In this progamme, we’ll take a look at idea validation from the perspective of validating a new business idea, concept or a product. Here we’ll refer to all of these as ideas. We’ll also introduce some tools that you can use to discover whether or not your idea has real potential.

So, What is idea validation?

Idea validation is the process of gathering evidence around ideas through experimentation to make fast, informed and de-risked decisions.

It’s a process that starts from an idea and typically ends with a paying customer. The purpose of idea validation is to expose the idea to the practicality of the real world before you build and release the final product or offering.

And, Why should ideas be validated?

An idea should be validated before investing a significant amount of time and resources in developing it to avoid building and launching a product or concept no one wants or isn’t willing to pay for.

The purpose of idea validation is to make sure your idea has real demand, otherwise there’s a real risk of it becoming “just another cool idea”.

The idea must either be able to solve a real problem, fulfill its intended purpose or appeal to other incentives.

Find out all the answers related to Idea Validation in this course “Idea Validation Online Programme”.