Purpose
This activity is designed to assist you and your team to validate your startup idea. Validation refers to any activity in which you seek an answer to the question: Will customers buy our product or use our service? Thus, you and your group need do some type of experiment to test your idea.
Rationale
The reason why startup ventures want to validate their idea is that entrepreneurs need to avoid risking their time and money on an idea that simply will not be accepted by customers. To this end, entrepreneurs conduct an experiment to test their idea.
Validation Methods
There several methods that seem to make sense for our class. One method is to produce a video that demonstrate the product or service. In this kind of video, you want to highlight the problem that the product or service address as well as the features of the product or service. At the end of the video, there is an offer for more information. If there are only a few request, then you need to re-consider your idea.
Another method is to construct a survey using Google Forms. In this survey, you develop a set of questions and the possible responses to these questions. It is important that you make sure the results of the survey will provide plenty of information so that you and your team can validate your idea.
Today’s agenda is:
1. Read the articles below
2. Watch the Dropbox validation video
3. Discuss how you plan to validate your idea
4. Write a blog post on validation and how you plan to validate your idea (title the Idea Validation)
5. Team Meeting with me
9 Entrepreneurs Reveal How They Validated Their Business Idea
Procedures
To complete the validation process, please follow the steps below.
Step 1
Decide on a particular method (video or survey) to validate your idea.
Step 2
Write the script for the video or develop the questions for the survey.
Step 3
Get approval of the video or survey.
Step 4
Produce the video or construct the survey.
Step 5
Determine the criteria for validation. For example, it may be a 50 people requesting more information. It should some level of positive feedback.
Step 6
Employ your method to get feedback.
Step 7
Analyze the data and make a decision.
Assessment Outcomes
I can apply the concept of validation to confirm a business idea.
I can develop a validation instrument using an appropriate digital technology.
I can prepare a written text to convey the
I can assess the quality of the instrument by analyzing the information collected.
I can communicate with my teammates as we work on a task.
I can collaborate with my teammates so that we all share in completing the task.
Team Value $1500 dollars
Personal Value $200 per blog entry
