Road To Entrepreneurship- Idea Generation and Validation

Idea Generation And Validation

Now once you have identified the problem the next step is to find a solution to that  problem which has the ability to attract paying customers. There are various idea generation techniques through which you can find the solution to your problem.

Scamper :

  It is an   idea generation technique that utilizes action verbs as stimuli and  checklist that assists the person in coming up with ideas either for modifications  that can be made on an existing product or for making a new product. SCAMPER is  acronym of action verbs (Substitute, Combine, Adapt, Modify, Put to another use,  Eliminate and Reverse) which stands for a prompt for creative ideas. The substitute  technique focuses on the parts in the product, service or solution that can be replaced with another. The combine technique tends to analyze the possibility of    merging two ideas, stages of the process or product in one single more efficient output. Adapt refers to a brainstorming discussion that aims to adjust or tweak product or service for a better output. The modify technique refers to changing the hanging the process in a way that unleashes more innovation capabilities  or solves problems. Put to another use technique concerns how to put the current product or process in another purpose or how to use the existing product to solve problems. As the name implies, Eliminate technique aims to identify the parts of the process that can be eliminated to improve the process, product or service. The Reverse or Rearrange technique aims to explore the innovative potential when changing the order of the process in the production line.

Brainstorming:

It is a process engendering a huge number of solutions for a specific problem. In this, there is no assessment of ideas. It allows all type of ideas and then a solution is finalized.   

Mindmapping:

 Mind Mapping is a graphical technique for imagining connections between various pieces of information or ideas. Each fact or idea is written down and then connected by curves or lines to its minor or major (previous or following) fact or idea, thus building a web of relationships. 

Synectics:

It is a creative idea generation and problem-solving technique that arouses thought processes that the subject may not be aware of. It is a manner of approaching problem-solving and creativity in a rational manner. According to J.J Gordon, three key assumptions are associated with Synectics research are: 

• It is easy to describe and teach the creative process.
• invention process in science and arts are analogous and triggered by same physic process
• group and individual creativity are analogous 

Idea Validation 

Validation of ideas is a must for budding entrepreneurs, to plan and execute their ideas with their arsenal ready to combat setbacks! Let us dive deep into this “idea validation”. In order to validate our idea first, we have to socialize the idea with a wide variety of people from both social and professional networks. Another aspect of idea validation is understanding how you can take it to VCs and individual investors. One other approach to idea validation is a more structured and formal one – testing the same. Determining feasibility may be through market research, focus groups, and/or a pilot launch. Focus the most on the problem and how you can solve it in different  ways, then think about how and what you offer to the customers. Plan ahead. Visualize the ways in which your business can fail, be clear about your plans to overcome the hurdles, and have the wherewithal, both mental and financial, to see through the challenges. You can also make use of various market validation platforms also if required.

Now our next topic is Business Models.

If you have any doubt then do comment , we will be more than happy to help you.

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