Lean Validation: 10 Ways to Quickly Test Your Startup Idea
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Transcript of Lean Validation: 10 Ways to Quickly Test Your Startup Idea
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10 Secrets ofLean Market Validation
How to Rapidly Validate Your Idea with Real Customers
Jim Semick, Founder @jimsemick
University of California
Santa Barbara
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Lean Market Validation Does your idea solve a problem?Can you find potential buyers?
Is there a market?
Does anyone care?
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This is Carol.
Real name, true story, fake picture.
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She searched for a solution.
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She found it and signed up.
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What Carol Didn’t Know
The website launched one day prior
It took one hour to build and cost $0.
…Oh, there is no product and the company doesn’t exist (yet).
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We Asked Carol
“Why were you looking?”“Why would you use this product?”
“How would it make your job easier?”“What are the minimum features?”
Carol bought the REAL product when we launched.
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10 Secrets for Quickly Validating Your Idea
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1. Write Down Your Product
Concept …
Who is your customer?What are
their problems?
How do you solve those problems?
Key Features?
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Don't waste time agonizing over details.
2. Decide.
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Think like a scientist: Most of what you write down is an ASSUMPTION
(and may be wrong)
3.
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4. Find the truth by getting out to test your assumptionsFind people who have a problem.
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5. Start with your network
& your mentors’ networks
*or stalk people at Starbucks
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6. Interview them.
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7. Ask “Why?”
Ask LOTS of open-ended questions
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8. Find the “Value Proposition”
Time savedMoney savedMoney madePain relieved
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9. Liking your idea is not the same as buying your product.
Challenge them (politely).
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#10
Jump off the cliff and have fun!
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Validation sounds hard – but building a real product is harder.
Validate before you build.
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@JimSemick
ProductPlan.com/blog
Thank you!
You Can Do It!