Criteria for success (Startup Challenge – Part 2)

Over the past several days, I’ve generated 60+ startup ideas by following my idea generating process I blogged about last week. When I look over my list of ideas I have a lot of “gut feelings” about them. Some of the ideas seem too simple, some seem too complex, some seem dumb, and some seem beyond my skill set. While I think it is important to, at times, trust your gut. I also think it’s important to not throw away an idea before you at least consider its merits.

In today’s post I’ll go over my personal criteria to evaluate each startup idea. Similar to my idea generating process, I created this list of criteria for myself. I designed this list to help me think critically about each of the ideas I generated. I recommend that you take what I’ve written here as a starting point, do some more reading and research, and create your own idea evaluation process tailored to what’s important to you.

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3 ways to validate your startup idea without building a damn thing

picture of yellow measuring tape, with the words "validate first, build later" written overtop

Last week, I shared my ideas about MVE’s: Minimum Viable Experiments. To recap, an MVE is a type of experiment that should…

  • require minimal set-up,
  • require minimal cost and materials, and
  • ultimately help you determine whether you’ve got a startup idea worth pursuing, or not.

MVEs are great because they take the focus away from building and shift it towards validating. In fact, I think that the longer you can pursue your startup idea without building anything, the more open you’ll be to new ideas, and the more successful you’ll be when it comes time to execute.

So to help you embrace the validate first, build later mantra, I’ve created a list of three ways to test your startup idea without building a damn thing:

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The MVE: Minimum Viable Experiment

picture of beakers and experimental jars with the words "the minimum viable experiment" written over top

You have all been dutifully instructed to “fall in love with the problem, not the solution.” A lot of ink (virtual or otherwise) has been spent making sure you do your customer research. But as much as the start-up crowd seems to value research,  it still seems like you can’t call yourself a “real entrepreneur” until you build something.

For example, if you spend your time investigating better ways to help senior citizens get to where they want to go, you’re just a do-gooder. But if you tell everyone you are making the “Uber for Seniors,” you are suddenly an entrepreneur.

Even the Lean movement, which espouses an experimental approach, puts a lot of focus on building something. (That “something” being the “minimum viable product.” Emphasis on product.)

I think that would-be entrepreneurs would find a lot more freedom to explore and grow their ideas if there was less pressure to come up with a “thing” to build. Instead, it may be better to focus on conducting worthwhile experiments. So in this post I’d like to introduce the MVE: minimum viable experiment.

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