Using data to justify your startup ideas is easier than you think!
Guest posting by Eli Schwartz (SurveyMonkey)
Read any good startup story and it typically begins with the founder(s) identifying a particular problem and developing a solution encased (hopefully) within a business model. A creative way of solving a challenge, of course, does not guarantee the success of a startup; for that you need successful execution and mass adoption.
Achieving mass adoption requires that: (a) many people have the same problem and (b) the solution you developed works for enough of the masses. To discover whether there is any mass appeal you need to do market research and validation. Pushing forward with an idea without any validation is a fool’s errand, unless you are super lucky or have Steve Job’s level of intuition.
The challenge many founders will face when doing their research is that they are so excited about their ideas. This is a problem as they inevitably let their own assumptions and biases creep into their research process. Ineffective research will lead to misguided validation and that is how things like the Ionic Ear or leopard pillows ended up getting created. It’s not always easy for the founders to step back and see their own biases when doing their research, so here are five basic steps to follow that can help you keep track and give solid data to build your foundation.
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