3 Quick and Easy Steps to Validate Your Startup Idea | Idea Evaluation

Almost More than 80% of new ideas are from an entrepreneur’s pain. And unfortunately, most of the time, nobody wants those products or services.

Hi, I am Gabriel Nazarian, and in this lesson, we will examine how to evaluate an idea.

If you prefer to watch the video of this lesson, let’s check out the link below:

https://www.youtube.com/watch?v=z-EQx6stFPE

One of the most important aspects of starting a successful business is evaluating your ideas and choosing the best one.

To do this, you need to be familiar with the golden triangle of idea evaluation.

The 3s model is our guideline for evaluating any new idea to start our business.

Now, let’s take a look at the vertices of this triangle.

The vertices of this triangle are IDEAS, RESEARCH, and INITIAL DEPLOYMENT.

IDEA:

It Contains any sparks that come to your mind. The source of this inspiration can be obtained from:

  1. Market research,
  2. your experience in a particular industry,
  3. or even come from your expertise to solve a personal problem.

Research: There is a process used to evaluate that idea. The output of this stage is to filter bad ideas from good ones.

Last but not least, initial deployment. This process contains test and learn and fail fast methodology.

Let’s pause here, and in the next lesson, I’ll talk about ideas in more detail.

Now, let’s take a closer look at these three items:

first, the Idea: Ideas are generally divided into two different categories: first vitamins, and the second one is painkillers. Vitamins are ideas that the user will not face much trouble without them, like Instagram and painkillers. Otherwise, the user will have a problem.

Because research is a critical topic, I prefer to discuss in the next lesson, so see you later.

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