Validate your ideas
It's crucial to step back from the creative process to ensure your ideas are viable in a business context. Validating an idea before advancing with enhancements or new apps is a strategy we strongly advocate.
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The strategy of stepping back to validate creative ideas within a business context is not about stifling creativity but about channeling it effectively. It ensures that the creative process is aligned with strategic business goals and market needs, thereby maximizing the chances of success for new initiatives.
This balanced approach fosters innovation that is both groundbreaking and grounded in reality, ensuring that new products or enhancements are not only imaginative but also impactful and sustainable in the long run.
What are the benefits of Validation stage?
Risk Reduction
Early validation helps identify potential flaws or misalignments with market needs, reducing the risk of investing in a project that may not yield the expected return.
Resource Optimisation
By confirming an idea's viability early on, resources such as time, money, and effort can be allocated more efficiently, focusing on projects with a higher likelihood of success.
Market Fit
Validation processes, such as market research, user feedback, and prototype testing, ensure that the idea meets actual user needs and preferences, increasing the chances of market acceptance.
Marketing features as a system optimisation
The J.P. Morgan solution, designed for retail investors, included a feature that identified and suggested investment opportunities aligning with their needs and preferences, gathered via a questionnaire.
Whenever a promising investment opportunity emerged, users received a message detailing the steps to follow. The idea was validated positively and incorporated in the system.
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