How to Get the Right Feedback on a Startup Idea

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Many people find that getting feedback on their startup idea is something that helps them strengthen their product or service. The challenging part is positioning yourself in a scenario where you can collect the necessary feedback. Here is how to get useful feedback on a startup idea.

Talk to likely customers

Business is about getting a product or service out there that solves a unique business problem. The way the problem is solved is the cornerstone of your venture. You should be prepared to inquire with potential customers about what features they’d like to see when handling a product. They may be looking for specific features. This will give you the opportunity to identify specific customer profiles.

Set up focus groups

You want to group segments that would be into your product of service. The goal would be to complete a presentation where you could get the feedback you need to gather the feedback you need from audience members. The ability to gauge their responses or reactions to the presentation will help you assess the strength of your idea.

Identify a reliable accountant

Most people are under the impression that it is better to get your business off the ground before seeking professionals accounting advice. You should consider meeting with an accountant earlier on to see what can be done to avoid missteps in the planning stages. Accountants are able to provide guidance to help you avoid the most common mistakes people make.

Seek out an incubator, mentor or investor

Investors and incubators are actively looking for projects, products and services to nurture. Mentors are often open to providing ongoing mentoring to entrepreneurs. These types of individuals offer a good place to solicit advice. Their neutral opinion could be valuable to your journey as an entrepreneur.

Get advice from people of different backgrounds

You want to reach across demographics, so seeking out people who think differently from you is necessary. You generally want to seek out people across different age groups, races and locations to learn from their experiences with your product.

Look into crowdfunding

Crowdfunding can provide you with an overwhelming response to your product. It isn’t uncommon for people to receive thousands of inquiries for just one attempt at getting funding. That may be a testament to the promise of your product. A good response demonstrates that there is a need for that product.

Ask targeted questions

You can perform research, focusing on the serious pain points. This gives you a chance to assess whether or not the product is serving the intended function of solving a specific problem. When gathering feedback, you want to be certain that you’re getting the feedback you need. The goal should be to get the most objective answers.

 

Pitch competitions build your business

In having to prepare for a pitch competition, you have to form a two-minute story about your brand. The competition will give you the opportunity to address any ambiguities shared with you during feedback. It will give you the opportunity to refine your business and strengthen your brand. You could get good feedback from judges during the pitching process. The experiences encourage you to get solid feedback from experts.

Inquire, observe and probe

The three steps to “The Human Centered Design” method gives you a chance to solicit insight using three steps in a given process. You want to engage people with the product to see how they’d experience the product. You would want to know what is working for them and what isn’t working for them.