Latest / Imagine If with Doone Roisin | Health, Wealth & Wisdom for Women (formerly Female Startup Club Podcast) / GEMS: Validating Your Idea with WALDO founder Ashleigh Hinde

Transcript

GEMS: Validating Your Idea with WALDO founder Ashleigh Hinde · Imagine If with Doone Roisin | Health, Wealth & Wisdom for Women (formerly Female Startup Club Podcast)

• 0:09
  The question that I have for you in that early piece is around customer like market research, because it's one of those things that, like you said, so many people wear contact lenses. So the obvious thing is to be like, oh, there's obviously a huge market because so many people need them. But like, how do you actually go about like approaching market research for your idea specifically and then validating that idea to like move forward with it?
• 0:36
  Yeah, so it's a great question. In our space, there's a lot of public players. So, you know, if there's a public company in your space, like look up their S1, look up their filing details, like read the documents that
• 0:57
  you know, about that company. That's a really great place to start and get a sense for what their challenges are, what are they investing in? How have sales trended over time? Which regions are they growing in? Like all of that is public information for a public company. So that's a really good place to start. And then, you know, the second place I think is like, do some testing. It's pretty.
• 1:25
  inexpensive to run a small click campaign to get a sense of whether or not this is something that people might be interested in. And, you know, that can prove some kind of validation. So whether that's a survey or even a
• 1:44
  sort of early sign up click campaign on social media. There's a number of pretty cost effective ways just to sense check and validate your idea. And I think that that's a pretty good practice as well. If you're thinking, you know, if you're trying to decide between two names or two brands, brand identities, want to test two colors, you know, there's some, there's some good ways to go about that.
• 2:09
  Wow, that's so insightful. I've never heard your, like, I've never heard that answer before to go and look at the public company's information. And that's, you know, genius, obviously.
• 2:23
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• 2:48
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• 3:10
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