How do you quantify idea validation?

Question

Is it in the form of subscribers? and how many subscribers are enough to validate your idea?

Uma Venugopal · Accepted Answer

A slightly unique approach may be to figure out how crowded the market is - aka your competitors and what their numbers are in growth and what users are saying about the solutions.

Nuno Reis · Answer

I'd say first quantify the market. Then validate the idea based on the market, with as much user input as possible (may be subscribers to something or user interviews, depends on the market and idea).

Imagine a specific market where you assume your idea helps 40% of the people with the problem.
I'd expect a 40%~ positive response rate to what you bring to the table.

(If it's 30% or 50% it's also fine, it just means the market size may be different, but you prove it is still existent)

Sidra Arif · Answer

If you are dealing with a good size market, then you can conduct a survey where you ask people a few questions. If the response is positive, then you have validated your idea. On the other hand, you can bring in some samples of your product to nearby stores (if it is a physical product) and try selling it to them. If people are ready to pay for your product, you have validated your idea.

Aqsa Sajjad · Answer

A way to validate your idea is to try and build a prototype and launch a crowdfunding campaign. Later, you can also try reaching out to investors.

Answer

Comment Deleted

Answer

You need a solid plan, and the following things: 1. A killer team 2. A business model that’s proven to work 3. A proven execution plan. Once you’ve identified these three, and if you’re ready to take risks, then you could start validating your idea. On the other hand, if you’re not ready for the above three, then you need to rethink your business model and go back to the drawing board.

How do you quantify idea validation?

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