IdeasShort Workshop

Startup SaturdayIIM Kozhikode

Ujjwal V. Trivedi

UVTimes

Story

Finding ideas

Validating ideas

Rules

Don’t judgeStay hungry, Stay foolishSwitch your mobile phones to silent modeParticipate 100%

Pledge

Idea has no value

I am NOT the customer

I won’t 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

What’s 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. Don’t pitch, don’t sell, don’t 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

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