IdeasShort Workshop
Startup SaturdayIIM Kozhikode
Ujjwal V. Trivedi
UVTimes
Story
Finding ideas
Validating ideas
Rules
Don’t judgeStay hungry, Stay foolishSwitch your mobile phones to silent modeParticipate 100%
Pledge
Idea has no value
I am NOT the customer
I won’t fear idea thieves
How to Find Ideas?
The Uncomfortable
What troubles you?
What do you hate?
What do you fear?
I wish moments...
During Gossip
Coffee machine chats
Casual Jokes
Observe
Things missing today
Things missing in future
What’s replacing what?
Travel
Develop new perspective
Unlearn
Learn
Observe
Validating Startup Ideas
Why validate ideas?
26 Major startups shut shop in 2016
55% Startups were funded
Why validate ideas?
21% fail due to Team, Personal withdrawals
18% fail due to Funds/Money
61% due to lack of leverage
- Created something no one wants- Out competed/Poor strategy/marketing- Did not Pivot- Constraints: Location/Legal
Force Fitting
The natural way…
Force fitting
Wrong way…
How to validate startup ideas?
Who else is working on it?
How to validate startup ideas?
Lean way:
List your riskiest assumptions
Talk to your Customers
1. No Survey please2. Don’t pitch, don’t sell, don’t ask for feedback3. Make them talk: Look for stories, hopes & fears
How to validate startup ideas?
Think Primitive!
Works well for app ideas
Check How
How to validate startup ideas?
The Delta-4 Theory by Kunal Shah (CEO - Freecharge)
Is Delta(efficiency) > 4 ?
1. Is it irreversible?2. Do you have a UBP?3. Do people have high tolerance towards it?
How to validate startup ideas?
Create MVP
Do Customer Development
Sell the Product
Thanks
Be in touch!
linkedin.com/in/ujjwaltrivedi
[email protected]