Hey all, to investigate if the problem you planning to solve with your business idea it is advised to talk to potential customers/represenatives of the industry you have chosen. How do you get these people to talk to you? Do you use some platforms which are meant for this purpose? Do you pay people for speaking to you? Thank you!
As a Founder and former turn-around executive validating a business idea is a key requirement before spending capital on implementation.
This is also a task that has to be handled by the originator of the idea so it cannot and should not be contracted out.
My technic when doing an idea validation is to start out with my first degree network (Friends, Peers and Relatives) and then my social network.
My approach is to create an opportunity for a one on one conversation that is not under time pressure and allows for open ended answers.
The key is that after I outline the idea I mostly listen and take notes.
Also whie preferrable, the conversation partner does not need to be in the same industry that the idea is covering. The best insights often come from the least expected source.
Best Wishes,
Herb
Answered 10 months ago
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