Have you ever come up with a great idea or thought “hey I need to do that”?

Great ideas are the key to the entrepreneurial spirit and without them, there is little money to be made or problems to solve. What is key in the idea phase of starting a business, solving a problem or starting a new project is realizing that the “idea” is really an “assumption” that requires “validation.”

I have worked with many entrepreneurs that have great ideas, thoughts, plans and dreams. Many of them are incredible! But, most of them are just the beginning assumptions about a solution that haven’t been vetted or tested by anyone.

So how does one validate an idea?  Why do we even need to validate something that you know is going to be AMAZING?

Most of our ideas come out of “our” head or out of someone else’s thoughts…and if we are really honest with ourselves, we need to make sure that what is coming out of our head is something that someone, actually a whole lot of someones, will agree is a great idea.

1. Research The Field

I don’t know about you, but I hate research. Well, hate may be too strong a word. I loathe the process of conducting research. However, I have learned that taking the time to go do research about an idea is the cheapest and quickest way to find out if the idea is realistic, can be implemented, and who else has already had the idea.Research tells you what exists in the environment around your idea and if others out there are trying to solve the problem you idea solves.

2. Talk to People – Lots of People

This one is harder than the research.  Many people with a great idea sit down with their families and say thing like “Hey, I have a great idea…and you should all agree it is a great idea”  and most of them will…even if your idea stinks!  As I have said in many posts before, you have to talk to people that need your idea, and see if what you are proposing is really something worth developing. I recommend talking to 50 people about it, outside of your family.

3.  Don’t be Afraid to Change Your Idea

When we get an idea in our head, it sticks…and gets stuck.  Iteration is the key to idea development.  Many of the great ideas that I have developed to solve business problems, team dynamics, financial issues have all had to change after talking to people.  Change is necessary and good when developing an idea.

4. Be Prepared to Abandon Your Original Idea Altogether

Oh snap! Did he just say that?  Yes I did…and I don’t like it either. But……when you realize that your idea has no traction, people don’t get it, and you are all alone in the sea of your own brilliance, be prepared to let it go…and start again with another idea. At some point, you will find the iteration of the idea that works.

Ideas are amazing creations of innovation and creativity.  If they aren’t tested with research, validation and the willingness to pivot away when they run out of steam they are only assumptions that will cost you lots of time and money…only leading to eventually abandoning them anyway with a lot less money in your pocket.

Validate your assumptions and make your ideas matter!

For more information about this topic and others contact Tom Darling at tom.darling@teamworklogic.com