6 Ways to Validate Your Product Ideas

Market Validation O Methods BUSINESS YOU SHOULD KNOW ABOUT FOR YOUR You may have a great idea, but until you see how the world reacts to it, you really don't know what kinds of changes or adaptations might be needed to make it a success. Learn how to avoid costly mistakes with these Market Validation Essentials: Interview Your Customers 1 Simply to interview your customers. You can even use a book called 'Running Lean' as a template to ask the questions! Just make sure you focus on the problems first before you start to show off your solutions. Laga Prodace Ordering Ine Wire Frames and Prototypes Pradact Related Detais 2 Wire frames and prototypes are showing people visual representations. This can either be on paper or on screen. Related/ Reviens recent Softech This allows people to get a feel for what it is going to look like. HOW CAN I HELP YOU SIR? A Concierge Service 3. A concierge service is where you manually perform now what you know you can automate later. This proves the business model before you build the back-end crea- tion piece. So 'concierge services' can work really well to test your market. Halving Your Market 4 If you can test that one half of the market, then you can probably validate 70% of what you're trying to do. This cuts the testing costs yet allows you to roll out enough to test that market. If it works, it gives a lot more confidence for what the rest of the project will be like. Minimum Viable Products IDEA A minimum viable product is the minimum you can do to deliver a unit of value and do some market validation methods. Your sys- tems will often have four, five or six key units of value - pick one of those off and get that into the market and start testing it. MVP DATA CODE MEASURE Test Marketing 6. It is really reassuring to build something knowing that people are going to buy it before you've actually built it, so test mar- keting is ideal to give confidence. But testing something that didn't exist means you must make sure you do really good things like give them free versions of it. 70% 30% Are you looking to get your next great idea out in front of your audience? Contact AllianceSoftware.com.au and start planning for success. Alliance Software BUILD LEARN