Finding & Validating Startup/Product Ideas

  • Published on
    14-Apr-2017

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  • IdeasShort Workshop

    Startup SaturdayIIM Kozhikode

  • Ujjwal V. Trivedi

    UVTimes

  • Story

    Finding ideas

    Validating ideas

  • Rules

    Dont judgeStay hungry, Stay foolishSwitch your mobile phones to silent modeParticipate 100%

  • Pledge

    Idea has no value

    I am NOT the customer

    I wont fear idea thieves

  • How to Find Ideas?

  • Think?

  • The Uncomfortable

    What troubles you?

    What do you hate?

    What do you fear?

  • I wish moments...

    During Gossip

    Coffee machine chats

    Casual Jokes

  • Observe

    Things missing today

    Things missing in future

    Whats replacing what?

  • Travel

    Develop new perspective

    Unlearn

    Learn

    Observe

  • Do Something

  • Validating Startup Ideas

  • Why validate ideas?

    26 Major startups shut shop in 2016

    55% Startups were funded

  • Why validate ideas?

    21% fail due to Team, Personal withdrawals

    18% fail due to Funds/Money

    61% due to lack of leverage

    - Created something no one wants- Out competed/Poor strategy/marketing- Did not Pivot- Constraints: Location/Legal

  • Force Fitting

    The natural way

  • Force fitting

    Wrong way

  • Process

  • Process

  • Process

  • Process

  • How to validate startup ideas?

    Who else is working on it?

  • How to validate startup ideas?

    Lean way:

    List your riskiest assumptions

    Talk to your Customers

    1. No Survey please2. Dont pitch, dont sell, dont ask for feedback3. Make them talk: Look for stories, hopes & fears

  • How to validate startup ideas?

    Think Primitive!

    Works well for app ideas

    Check How

    http://uvtimes.blogspot.in/2016/06/what-to-do-with-startup-ideas.htmlhttp://uvtimes.blogspot.in/2016/06/what-to-do-with-startup-ideas.html

  • How to validate startup ideas?

    The Delta-4 Theory by Kunal Shah (CEO - Freecharge)

    Is Delta(efficiency) > 4 ?

    1. Is it irreversible?2. Do you have a UBP?3. Do people have high tolerance towards it?

  • How to validate startup ideas?

    Create MVP

    Do Customer Development

    Sell the Product

  • Thanks

    Be in touch!

    linkedin.com/in/ujjwaltrivedi

    ujjwal.trivedi@headstart.in

    mailto:ujjwal.trivedi@headstart.inmailto:ujjwal.trivedi@headstart.in