PRABODHANA VRIKSHASTAR STARTUP ECOSYSTEM

Idea Validation is not my cup of tea!

Validate or perish

05 April 2019 Hyderabad: Confidence in an idea is a positive sign, yet if it goes overboard then the trouble starts brewing. Mortality is the main issue that affects the budding ideators. The margins between over confidence and the other is wafer thin, one never knows when they are eroded.

Innovators who plan to germinate into StartUps need to memorize ‘love thy problem more than thy solution’ the unwritten commandment to sustain. Because successful founders are the ones that are prepared to work 360 degrees for scaling up.

Idea Validation is your only choice to counter most flaws and breathe in fresh life into your newly emerging entity. Most people start asking how to go about the whole issue without compromising on the NDA clause:

  1. Identify a problem that you wish to find a solution
  2. Start discussions with peers, people who are affected by the issue, elite gatherings and question them how they wish to solve the impending one
  3. Design your solution that is strengthened by the feedback received
  4. With the solution at the back of the mind try talking to some more sample set of people about your solution and try to assess the flaws or demands
  5. Then figure the costing and the catered market’s affordability

Now go for the POC as the product after all the tests is market awaited one. This process is more or less followed and advocated across the globe to help the organisations grow phenomenally. Every idea that undergoes this litmus test is bound to create a niche in its sphere.

Fundamental three issues that add value to any entity is idea validation, product validation and market validation. If we could embark on these three platforms at the appropriate stages then there is no looking back.

Financial inflows are equally important however a sound idea would attract fund flow from various sources. Government of India offers variety of grants for ideations and most importantly there are frequent competitions across the nation that offers big money. Either of these ways could take care of your POC and GTM strategies then you could grab investor’s eyeballs to scale up in your journey. Ideally, ‘where there is a will there is a way.’

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