Idea
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Idea

Where it all started - Starting with WHY?

Start with Why

Golden Circle by Simon Sinek
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Why→ How---> What

Why= “purpose, passion, inspiration, vision, reason, values”

How= manner of implementation

What= product/idea/business

Communicate from inside out

How do you align your/product's values with your customers

I have a startup idea! What do I do next?

Initial Research and Brainstorming

Key takeaways:

1. Staying objective.

2. Using the Lean Canvas to identify your assumptions.

3. Identifying assumptions to test your hypothesis

4. Test your assumptions around the problem, customers, and existing solutions.

5. Testing your unique value proposition and solution

6. Testing marketing channels

7.

7a Test value and revenue in an unscaleable way through a concierge service

7b Test value using prototypes

8. Keep learning more about your customers at all times

A four-step guide to evaluating startup and new venture ideas

Summary:

Early-stage investors and venture capitalists — way before they see a working product — need to see solid evidence that the new business idea has the potentials to grow quickly. Four factors need to be analyzed when assessing the potentials of a startup:

  • The demand side — the problem, or initial conditions
  • The supply side — the solution and offering
  • The connectors — drivers, insights, or reasoning as to why the ‘assumed’ company, will successfully connect the supply and demand sides and create economic value
  • The beliefs — the positive emotions, the excitement around the company and its people

Source:

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Startup Ideation Process

Additional resources

Why Your Idea is Worth Nothing by Vlad Kachur

Elon Musk on Millennials and How To Start A Business

How to validate startup ideas?

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For templates and canvases, see

base

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Idea Validation: Steps and Tools for Testing Your Idea

Lean Market Validation: 10 Ways to Rapidly Test Your Startup Idea

Define your value proposition

What is the value proposition?

"A value proposition tells prospects why they should do business with you rather than your competitors, and makes the benefits of your products or services crystal clear from the outset" - Dan Shewan

How to define your Value prop and customer segments?

Use your value proposition to convey the strong message of why your product matters and explain in terms of "features vs benefits".

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Other resources

How To Get A Startup Idea?

Why you should use the ideation process when building your startup?

Startup Idea: Ideation Guide for To-Be Entrepreneurs