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You might be under an influence of a strong urge to get launched as an Entrepreneur and that feeling is so powerful that you are ready to sacrifice whatever that it may take! Congratulations you are bitten by the Entrepreneurial Bug, now let’s start planning how to transform your idea into a product that just doesn’t sits in your laptop but goes a long mile in awarding Utility and Value to the Consumer.
As soon as you are bitten by an Entrepreneurial bug the next stage is the stage where you need to seek a clear and robust validation of your Idea followed by a Qualitative as well as a Quantitative Research.
An Idea is generally a problem faced or recognised by you!
Ideas emanate out of your real life scenarios and are never imported out of someone else’s beliefs. They are either the market opportunity which you have envisioned out of your professional wisdom or you are hit by a problem which, if solved could be a Potential Business Opportunity!
It could range from cleaning houses to serving medicines, from researching about spaceships to developing better ways to conserve and save energy resources for our future generations. What matters more is how much are you convinced with the idea you conceived and determined to go for the kill.
Ask these questions to you before you start your journey with Idea Validation.
Try seek answers to these questions much before you are going for a research. These questions will help you know more about your Idea and prepare for the next stages of Idea Validation.
- Why am I making this?
- Why doesn’t this exist already?
- Why me?
- Why Now?
- Why do people need this?
- Why will people want this?
- Why cant anybody else copy this? If yes than what would I be doing now to prevent this?
Research and Research till you are able to reach Degree of Optimal Confidence
Once the Idea is recognised start your Research Engine. Take deep dive into online medium. Search for reports, studies, and Journal to find out how well is your Idea relevant to the people who will be using it. Try to synthesise objectivity and intuition till you are able to curate the visual story into a Potential Business Opportunity. This stage where the pragmatic conditions as well as the intuition are guiding you to the same direction is called Degree of Optimal Confidence. It’s a Stage where you able to back your Intuitive intelligence with researches and is able to achieve objectivity in your idea. Do not Start till you have reached the stage else you would have to come back again!
Do not be Action Biased ever; it’s a perfect ingredient for Failure
Being Action Biased means a greater propensity to act or decide without customary analysis or sufficient information. Something like a ‘just do it’ attitude and contemplate later. Do not ever fall into the prey of being Action biased else you will always be guided to “Error Blindness” A stage where you are completely insulated about your wrongdoings and continue to do mistakes till you Fail!.
Being thoughtful doesn’t mean you are slow what it means is that you are giving ample time to plan things rather than committing them before thinking over it! So be thoughtful about the Idea and give it ample time to sync within you before you start execution.