You’re Doing It Wrong: Business Idea Validation | Ep 4

In this episode of "This Is The Way with Artin and Michael", Artin and Michael take a deep dive into the world of idea validation and why it's so crucial. They kick off the discussion by exploring the power of disruption and innovation, citing real-life examples from groundbreaking companies like Uber and Airbnb. These platforms have revolutionized traditional industries by cutting out middlemen and creating entirely new business models.

The hosts uncover the concept of becoming the "Uber" or "Airbnb" of various industries, revealing exciting prospects like Turo for car rentals. They stress the significance of adopting disruptive thinking not only in business but also in individual careers, underscoring the importance of validating ideas.

To make the most out of idea validation, Artin and Michael share some practical strategies for effectively engaging with potential customers and conducting thorough market research. They emphasize the role of problem-solving and analyzing financial reports to identify areas for improvement.

Drawing from their own experiences, the hosts discuss the challenges and successes they faced while building their startup. They emphasize the value of constant customer interaction and adaptability, vital ingredients for any successful venture.

In this engaging episode, they also explore the significance of tangible problem-solving and the sustainability of ideas. From the world of film production to dental hygiene, the hosts provide unique insights into the workings of various industries.

So, whether you're an aspiring entrepreneur or simply interested in innovation, join us for this inspiring conversation on idea validation, disruption, and the art of transforming concepts into reality.

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[00:00:00] Idea
[00:02:44] Past idea
[00:06:16] Similarity between storytelling and business development process.
[00:08:25] Pitching ideas at work requires problem-solving.
[00:11:03] Raising $4 Million
[00:23:02] Lean management principles.
[00:26:33] Idea validation process: problem, research, sustainability.
[00:30:04] Toothbrush story
[00:35:04] Validate idea: reach out to potential customers
[00:37:05] Customer feedback key to improving product success.