How do you create and validate innovative business ideas?

One thing to ???? ?????????? ???? ???? ???????????????? ????????; do not do something just because you think people need it without conducting some sort of survey first.

To kickstart the innovation process, pinpoint a problem that you or your potential customers encounter. This issue should be precise, pertinent, and significant to your target audience. Employ diverse methods like observation, interviews, surveys, or brainstorming to unearth these problems. The objective is to reveal people's unmet pain points, frustrations, challenges, or desires, which current solutions fail to adequately address. This problem identification forms the foundation for crafting a unique and compelling business idea.

Sometimes it is knowing exactly who could give you solid input. I was working on a new idea and was getting positive feedback from a couple of industry people I mentioned it to. One woman I knew that was in my target audience was, quite frankly, overly skeptical and questioning. I ran the idea past her, and got the "What? That won't work" response I figured I would get. However, she went on to tell me exactly why she thought it wouldn't work. She made a good point, which caused me to adjust my idea. I never went back to her, because the "fix" made it successful!

PRETOTYPE AND TEST LIKE TESLA As innovation facilitator of 100+ projects, I like to share how Tesla interested buyers for their first car. In 2003, the founders of Tesla had an ambitious idea (an all-electric 2-door sports car). In order to convince potential buyers to order its car, Tesla created a pretotype of what the car would look like. Lotus supplied Tesla with a ‘glider’ Elise - which was filled with models of key components. This was not a prototype, because the vehicle didn’t function. Tesla was able to show buyers a close proxy for the final design. Tesla asked “Will you put down a $5,000 deposit to have it built to order? From this test Tesla secured several hundred deposits, a non-trivial result to reassure their Investors

A pro tip for determining how to make a decision for the MVP using the ???????????? ????????????: -Must-have (MVP) -Should-have (Some in MVP, some in a later update) -Could-have (In a later update) -Won't-have (Never)

Make sure not to fall into biases and/or discriminations and not affiliate them with sex, race, or religion. Also, ?????????? ???????? ???????? to determine which features you should keep, add, or delete.

I believe that validations come from discussions. One person alone doesn’t make a good idea. The idea needs to catch on. What’s my point? Limiting assumptions. The more assumptions you use to validate your good idea, the weaker the validation is. The best way to limit assumptions is to get actual hard evidence that it’s no longer assumption. I like to have discussions with potential customers early. I like to have discussions with people surrounding the industry I’m looking to enter. I like to round out my understanding with the viewpoints of others that have differing experiences than I have alone. Different people look at things from different angles. That is incredibly valuable. Have conversations!