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HOW TO VALIDATE YOUR BUSINESS IDEAS

6 key questions + idea checklist

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Graham D BrownEntrepreneur, investor

and startup advisor

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For entrepreneurs, ideas are the seed of every successful business

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“All you need isa great idea…”

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...but, wait...

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Maybe you have too many ideas

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...or maybe you don’t have any

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Presented by me Graham D Brown

http://www.upschool.io/download-ideas

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So, where do you start?

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How do you narrow it down

to that one idea?

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Here’s my Up.School check list to help you find that one great idea

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The 6 Questions you need to ask when validating a business idea

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#1 Is someone else already doing it?

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Forget…First Mover Advantage...

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Don’t bet on developing a new market

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It’s much easier to copy an existing business idea and out-execute it

After all, Richard Branson didn’t invent air travel

Facebook didn’t invent the social network

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And Google didn’t invent the Search Engine

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Their idea was to do it better… by improving

the experienceUP.SCHOOL

#2 Is this a problem that you personally face in your daily life?

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You don’t need an idea that changes theworld...

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Focus on solving a small problem that people like you have in their daily life

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You are your best first customer

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You know the pain,

your emotional

drivers better than

anyone else

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#3 Does it make your heart beat faster?

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It’s either HELL YEAH or nothing!

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If you don’t get juiced up about your idea, it’s going to be hard to convince

customers to do likewise

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Don’t waste time on the stuff that doesn’t start fires

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#4 Is there a strong search volume for this idea in the Google Keyword Tool?

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Mine where the gold is...

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https://adwords.google.com/KeywordPlanner

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#5 Are people asking questions about this idea in Quora?

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People asking questions =Problems not being solved

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#6 Does Google Trends show an increasing search volume for this idea?

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Don’t build your business on a shrinking market

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Use Google Trends to niche down your idea to find the growth areas

Evidence of competition and people searching for that competition is a good sign

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Here’s that checklist...

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6 POINT CHECKLIST:

1. Is someone else already doing it?2. Is this a problem you face every day?3. Does it make your heart beat faster?4. Search volume on Google Keywords?5. People asking questions on Quora?6. Uptrend on Google Trends?

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And finally, don’t get hung up on

your idea

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Don’t wait for the right timing or the perfect idea...

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Launch now…You won’t learn until you launch

A half-baked idea is enoughto get going...

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Lead the customer and ask for feedback rather than ask them “what do you want?”

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As with all startups, ideas change and evolve as customers give you feedback

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And set your ideas free...

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Actively share your ideas rather than tell everyone you’re in

“stealth mode”

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Remember the idea is just Step One...

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Ideas are valuable, but execution is priceless

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Want to see join the webinarof this presentation? (next slide)

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Join this Up.School Webinar FREE

Presented by me Graham D Brown