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What are some of you favorite idea validation tools?

We all are at least familiar with various lean start up methodologies, but to go beyond canvasing, or using ppc to a landing page. What tools do you recommend to validate a start up idea, ahead of launch?

10 Replies

Jeff Fugitt ☁
0
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Jeff Fugitt ☁ Entrepreneur
CMO | Demand Generation | Content Marketer | Revenue Marketer | Product Marketer | Chief Marketing Technology Officer
Customer advisory boards work wonders.
Maili Porh
3
0
Maili Porh Entrepreneur
Product @ ConnectiD / Founder @ Delphi
IronStamp.me is a new tool out there!
Peter Kemball
2
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Peter Kemball Entrepreneur
Member Issuers Committee at Equity Crowdfunding Alliance of Canada (ECFA)
Critical Factors Assessment from Canadian Innovation Centre University of Waterloo is a proven tool to validate the idea and your approach using third party expertise.
Keith Hopper
1
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Keith Hopper Entrepreneur • Advisor
Product Innovation
Trying to actually deliver some aspect of value manually is counter-intuitive but quite effective in the early days of product development.I'm a big fan of Concierge MVP or Wizard of Oz MVP methods to validate ideas manually.

Here's a good post explaining this and similar methods I provide to my students:
http://scalemybusiness.com/the-ultimate-guide-to-minimum-viable-products/
A.J. Lawrence
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A.J. Lawrence Entrepreneur
Data focused revenue growth executive from startups to Global1000s
Thank you, all, for your responses.

Jeff, how would you use an advisory board to validate a business idea? Wouldn't you be worried about getting biased answers?

Maili, I'm playing around with IronStamp.me but I have the same concern, it's not as much a true unbiased validation service as it is getting biased validation. What has your experience been?

Peter, how would someone who has a start up idea go about using "Critical Factors Assessment from Canadian Innovation Centre University of Waterloo"? Do you need to be Canadian to use it?

Keith, great ideas and I've added your post to my Pocket so I'll check it out later to dive deeper.

Has anyone had anyexperience with Validat.io or RallyReel?
Luke Szyrmer
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Luke Szyrmer Entrepreneur • Advisor
Forward-Thinking, Creative Software Product Manager and Author
Any approach to market validation that isn't based on interaction with the target customers is fundamentally flawed. Customers are the source of revenues in every business, and everything else (such as costs) exist to service those customers. In addition to market, there may be a need for technical or regulatory validation.
Maili Porh
1
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Maili Porh Entrepreneur
Product @ ConnectiD / Founder @ Delphi
A.J. - IronStamp.me acts as storing and sharing facility for verified recommendations that you have previously received from consumers and industry evangelists when speaking to them via e-mail, face to face etc.

It aims at helping investors assess your when fundraising - more iron stamps you have - more job has been done to get feedback, speak to consumers and "sell your idea" - therefore it doesn't provide a board of people for it - it provides a platform for collecting, storing and sharing recommendations and therefore acts a solid way of proving your concept based on your job.

e.g. if you speak even in this forum and people like what you're doing because they are your potential consumers - you can then ask them to give you an iron stamp.

or when you visit sites of potential consumers - same thing.

My experience is pretty new and concept is being reframed but it helped my fashion start-up raise money because people from the industry explained its necessity via ironstamp.me
A.J. Lawrence
0
0
A.J. Lawrence Entrepreneur
Data focused revenue growth executive from startups to Global1000s
Thank you, Luke Szymer. I think we all agree on that concept, but what tools would you use to do so?
Luke Szyrmer
1
0
Luke Szyrmer Entrepreneur • Advisor
Forward-Thinking, Creative Software Product Manager and Author
A.J.

Can I ask you why you want "more" tools than the above?

Tools make it easy to avoid proper experiments and hypothesis formulation. TBH, I strongly prefer post its and spreadsheets if at all possible, as it gives you flexibility when you need it the most (in the early stages of a product idea).

I would even go further...not using customer development and a landing page to confirm your idea very early on exposes you to the risk is a major waste of resources. And if you do both of those, and you get a strong signal from the market that they want it...the last thing you'll be concerned about is more tools for validation.
Kenneth Larson
0
0
Kenneth Larson Advisor
Retired Aerospace Contracts Manager, MicroMentor Volunteer and Founder "Smalltofeds"

BUSINESS IDEA TOOL KIT

1. Do you have a product or service niche in mind?

2. Do you believe you have a market for 1 above and the means to reach it?

3. Are you willing to develop a business plan using the tool kit below to validate 1 and 2 above before you launch?

If the answer to the above questions is yes than take the actions indicated, observe the results, then make an informed decision on whether or not to proceed.

https://www.sba.gov/thinking-about-starting

The following is a site that offers free business plan samples:

http://www.bplans.com/sample_business_plans.php

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