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1o tips for validating an idea

Guidance for projects

You have got an idea to improve a process at work or something that is going to change the world. Before you waste any more time obsessing about it- find out if it is a good idea with these 10 points.

You might be looking for procurement cost saving ideas, demand management ideas, waste reduction ideas, waste savings ideas.

Or you might be looking for income generation ideas or even ideas to save the health sector and NHS.

Or you might want to set up your own business!

This list will help you work out if it is a good idea or not:

  1. Share the idea with everybody you can- especially those that are closest to the problem. There's a fallacy that someone will steal your idea. Having the idea, yes, it's an integral part of the process, but it's the easiest bit. Delivering it and making it work, that's the hard bit.
  2. Is there anyone else doing it? If there is, good, you know there's already a market for it.
  3. Be wary of nice family and friends. They'll just tell you what you want to hear.
  4. Present yourself as a company that is about to or has already built the idea: Build a landing page- dead easy with software like Leadpages, and see how it does on Google Analytics. Add in a sign up form, see how many people sign up for it.
  5. Present yourself as a company that has already built the idea: Create Facebook and Twitter ads. If you can get click through, then you know you might be onto something.
  6. Pitch the idea with an honest, critical friends. They'll tell you and help you develop the idea.
  7. Talk to colleagues in the industry. Tell them the idea. Ask them if they'd buy the idea/product. This might be a potential funding source as well, because if they like the idea, and they're willing to put some money up, they could actually fund the building of your idea.
  8. This one takes bravery but is the most valuable: get on the phone, call and meet the potential target audience, and pitch the idea as if it's already available, and if they say they're going to buy it, you know it's a good idea.
  9. Pitch the idea at the bank. They're going to be the most conservative people you meet about giving you money. If they said no, don't be despondent, but listen to what they say about how you can improve the financial sustainability of the idea.
  10. Develop a Crowdfunding campaign.

 

What are your suggestions for validating improvement ideas?

About the Author..

Daniel O'Connor

Daniel O'Connor

My goal is where reuse & repair is so convenient and desirable, that organisations do not throw anything away or buy anything new.. Where reusable items are redistributed for their 2nd and 3rd useful lives and when the items fail, they are diverted into repair.

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