The generation of new ideas can be invigorating and provide you with an instantaneous urge to get the ball rolling. Before you start to put your idea into action, it is beneficial to test it in order to ensure that it will be successful. Some great ways to accomplish this are by creating a landing page in order to see how much traffic it brings in, or even interviewing consumers to see what they think about your idea, and if they would be interested.
- In order to validate your business ideas, you should conduct numerous small experiments in order to gain a deeper understanding of your concept.
- Build, Measure, Learn is one popular way of testing business ideas, however, some entrepreneurs jump the gun and move on the build step too quickly.
- A common mistake innovators make is getting lost in the weeds while building their experiments, losing sight of their original hypotheses.
“Shape your idea (product, tech, market opportunity, etc.) into an attractive customer value proposition and prototype a potential profitable and scalable business model.”