You have identified an attractive customer group, validated the customer group's problems and your idea lies in an attractive market environment.
- Congratulations! - With that you have laid an important foundation stone.
Now it's time to further develop your solution concept based on the findings, and then validate customer demand and willingness to pay.
The goal must be to have a solution concept at the end of the phase that has a real demand. That means you have potential customers who are waiting for your product and want to pay money for it in the end.
Find the best idea
In the first phase, you learned a lot about your potential customers and the potential market. Some of the information was already known, but some of it gave you new insights.
Now you have to take your new knowledge and analyze whether it has changed your basic assumptions.
In the end, you should have designed your solution concept in such a way that it meets the problems and needs of your potential customers and can be established and implemented in the market with as few barriers as possible.
Build up your idea
You have evaluated the new findings and developed the idea further, if necessary?
- Great! - Then it's time to visualize your solution concept and test it on real customers. This will allow you to validate demand and willingness to pay.
The big advantage of this early review of the above-mentioned points is that you come into contact with customers at an early stage and know immediately whether your solution has the potential to be successful on the market.
This approach is especially important for innovative startup ideas, as there are many uncertainties and no one really knows how customers will react to the new, unique offering.
If you develop the final solution completely without obtaining feedback, there is a high risk that the product will not be in demand on the market.
In addition, without proof of real demand, you would never have received capital from investors, as they also want to manage risk and reduce uncertainty.
Test your idea
You have now successfully visualized your solution and presented it in an appealing way. Now potential customers can view your offer and, if interested, sign up and contact you.
However, you don't just want to present your solution to potential customers, you also want to validate the actual demand and willingness to pay and gain useful insights from this.