Re-emphasizing the Importance of Idea Validation for Startups

Having a brilliant idea alone is not sufficient provision to bring a startup company to "take off" and develop. It needs continuous validation, it can't be done just once when you just want to start it.

Departing from the validation of the idea, the right execution method will be formed so that it has an effect "snowball" such as being ogled by investors, getting recognition from users and getting more and more known by the public.

To emphasize the importance of this concept, #TuesdayStartup presenting CEO & Co-Founder nodeflux Meidy Fitrianto. Meidy shared a lot about her experience on how to validate her idea so that Nodeflux, a startup was formed intelligent video analysis with AI.

Not validating ideas, causes startup to fail

Meidy explained that having a good product, team and money alone is not enough to guarantee a startup can be successful. The first key lies in the will founder to suppress their own ego which assumes this product is sophisticated and will definitely be bought by the public.

The real fact, that no one cares about the product is thought to be sophisticated and not yet in any market. This is bound to happen when assumptions are exaggerated without being accompanied idea validation.

"When Nodeflux was started, we also played with assumptions that didn't happen fit with the market. Even though at that time we thought this product was very sophisticated. Finally market fit back and forth until pivot, then we find the gap that we choose can be optimized and become the basis for Nodeflux to move forward," said Meidy.

For idea validation, there are three basic questions that must be answered by: founder. Namely: (1) is there anyone who wants to use our product?; (2) how many of them are willing to pay?; (3) and how many people out there are willing to buy the product?.

In proving validation, one thing must be done founder is to go outside, meet people to see how confirmed the idea is with market needs. If you want to get instant results, you can distribute questionnaires with random sampling doesn't even have to cost a penny.

Another method is to meet face-to-face with representatives who have a significant voice and represent the industry to get deeper input.

Do validation repeatedly

Meidy also emphasized that this validation does not mean that it must be done before meeting investors, there are also cases that can only occur after receiving funds. This incident happened at Nodeflux, because to validate this idea it was realized that it needed money and could not be done in an instant and free way.

The validation of ideas also cannot be done once, but must be done continuously. Meidy explained that this happened because the validation of this idea moved dynamically, adjusting to the position of a startup.

It could be the first time it was done, meant to get the big picture of the industry. As time goes by he believes that it will grow because our idea of ​​something will become value, which will keep moving so it needs continuous validation.

This idea validation pattern starts from build MVP, product launches, fixes any flaws, and keeps repeating these three things.

"Prototyping we started in 2015, then started to build an office the following year. There we can funding, talent recruitment, and product execution. The next year we are sure to come to the market."

The most important execution, the idea is number umpteen

This concept is actually also embraced by investors, that they tend to invest in founder not to their products, how advanced the technology is. Mentality founder able to be adaptive to various possibilities outside the environment that can affect the business.

This adaptive ability is more important than just an idea that can be found by anyone but not necessarily successful during execution.

"No matter how good an idea is conveyed to people, no it would be that easy if you just wanted to copy from an idea because you have to understand all the ins and outs, it won't be easy."

In order for execution to run smoothly, it takes a good product that can only be produced by quality talent. Therefore, the issue of recruiting talent in the early stages can be an obstacle. Meidy admitted that it was not easy to get good quality talent when Nodeflux was started.

Given enough Nodeflux concept hi-tech, finally decided to take a gimmick approach marketing "magical particles" embedded in the site accompanied by a marketing sentence with an arrangement of eye catching. The result is quite a lot of applications that come in from children who graduate from master's degree.

"We can only validate the idea after we get it" funding. From there, the most difficult element is recruiting people. It's really hard to convince people to join, most of them think it's better to join a bigger startup. Whereas a good product must be produced from people with good quality," he concluded.