Great ideas require cultivation. Below you can get the tools and resources that will help you develop a truly great startup idea.
Although brainstorming is a creative process, experimenting with tested techniques can speed up the birth of new ideas.
If you have multiple ideas, spend extra time on evaluation and select the one that is the right fit for your chosen market.
The best way to avoid big mistakes is to start small. Focus on solving one problem for one customer with one product. This is called the Rule of One.
There is no sequence written in stone; however, you can benefit from a structured plan and in-depth knowledge of your target audience. Most startups are lean, which means they go to the market with an early version of their product to test and continuously improve.
Yes, founders who enroll in our startup accelerator programs are given real-life practical assignments that develop their market research and customer development skills.
Customer Development is a tool founders use to study their customers in detail. It involves activities like conducting customer interviews and testing business assumptions.
Customer Development and Product Development complement each other. Insights obtained from customers help you enhance your solution, while the advancement of your product determines what type of feedback you need in order to progress.
Finding people to interview can be a challenging task, but there are several ways to go about it. Your friends and family will likely be most approachable, so you can start with them. Then, you might reach out to your social media contacts and explore local networking opportunities. Last but not least, send a survey to your first customers who have already tried your product.
There are different frameworks for analyzing information, which you can adapt to your needs. Pick the ones that allow you to systemize results and draw conclusions.
It helps you validate your startup idea, reduces costs, prevents you from working on dispensable features, and presents you with opportunities to differentiate your solution from the rest.
If you want to ensure that customers will be buying your product, yes. Moreover, customers' needs and opinions change with time so it is recommended to test your business assumptions regularly.
The Founder Institute is the world’s most proven network to turn ideas into fundable startups, and startups into global businesses. Since 2009, our structured accelerator programs have helped over 6,800 entrepreneurs raise over $1.75BN in funding. Based in Silicon Valley and with chapters across 100 countries, our mission is to empower communities of talented and motivated people to build impactful technology companies worldwide.