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Validate an Idea

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Introduction to the Idea Validation Metric

Why do 75% of startups and 90% of products fail? Suppose you build your great idea and then fail. That would be awful!

Welcome to invent.me. Through years of research and refinement our team developed an idea validation metric so you can accurately validate your idea in advance.

1. Uniqueness

Uniqueness means different. It means that there is nothing like your product or service on the market. Ask people to give you a rating a scale of 1 to 10—how unique is it?

1 being this is more common than dirt and 10, there is nothing similar anywhere.

A 10 out of 10 for uniqueness can be better, faster, cheaper but more importantly it must have the to power to shock, surprise, delight and fire up the imagination.

Be extremely unique. When someone sees a truly unique product they say Wow! They want to learn more and are delighted to see, touch and use it.

A 1 out of 10 me-too product is nothing new and exciting and won't get traction.

Smart entrepreneurs build a product or service so unique that they make competitors irrelevant.

Ask: Is it unique?

2. Identify Pain or Need

Pain is a need, an unsolved problem or a hurdle to overcome. This pain needs to be experienced by lots of people in a large, addressable market that customers will pay to solve.

Identify the pain your product or service addresses then have customers rate it on a scale of 1 to 10. How deep is the pain? How many people experience the pain? 1 being no one experiences any pain at all, and 10—it’s so painful that millions of people will immediately open their wallets and pay for a solution.

Pain can include feeling poor, bored, inconvenienced, uncool, or sick. To score a 10 there must be a large addressable market. Remember that deep pain plus a large market equals great opportunity.

Ask: Is there deep pain in a large market?

3. Prototype

The Prototype is the preliminary model that solves the pain.

The prototype should look, feel, sound, smell, and taste like it works. Seeing is believing and everything about the product should contribute to help customers believe. Including its shape, size, color, message, packaging and technology.

Give the customer a reason to believe it works. The prototype should be so obvious that just by a single glance customers would say Wow, that looks like it works really well.

When rating the prototype on a scale of 1 to 10 ask if the prototype looks like it delivers on the benefits you built? How well will it solve the pain? 1 means the prototype is a confusing piece of junk and a 10 means it looks like it will work and should solve the pain very well.

Ask "Can you see that the prototype works?"

4. Target Situation

Target Situation means best use.

In which situation does the product solve the greatest amount of pain? On a scale of 1 to 10 how well does it perform in a specific usage or buying situation? A 1 means that it doesn’t do a specific job but is all things for all people and a 10, it specializes in doing one job very well in a specific situation.

Which target usage or buying situation does the product or service dominate? Focus on the situation. A situation can be a time, a place, and an activity or job to be done.

Who needs what job done in which situation? The right person in the right situation is your target market but entrepreneurs need to focus more on the situation than the person. No one makes a purchase because of their demographic. They buy because it preforms that job better than any alternative.

Ask "Whats the situation?"

5. Evidence

Evidence means quantifiable support.

Consumers need quantifiable support or proof that your product or service will deliver on its promises. What are your relevant facts, figures and testimonials that convince consumers of your product and service claims?

On a scale of 1-10, how well does the evidence convince customers that your product or service will deliver on the benefits as promoted? 1 means that there is little or no evidence that it delivers on its promises, and 10, just hearing the evidence makes you want to buy.

Consumers generally don’t trust new ideas; they want to be convinced that your product or service is superior.

We do that by quantifying the pain-solving benefits in a way that makes it more valuable and memorable: "Save 15% or more", "$5 foot-long" and "billions and billions served" are all great example of capturing the benefits through evidence.

Ask your customers, "Is my evidence convincing?"