Expert Advice from Oz Nazilli: Validating Your Startup Idea [Video]

In the earliest stages of a startup, effective problem validation and customer discovery are crucial. Many startups struggle to understand the psychology behind these processes.

Here’s everything that we learnt from Oz:

– There’s no Silver Bullet to ensure startup success, but doing things the right way can significantly increase your chance of success.
– Exploring multiple solutions and prototyping can increase the chance of success in solving a problem for a specific market.
– Context creates value and contrast creates meaning in decision-making, humans are bad at making decisions in a vacuum.
– Validate your startup idea by asking for commitment, not just whether someone likes it.
– Asking for a commitment like inputting credit card information or pre-orders can be a tangible signal that your startup idea is on the right path.
– The best source for validating your startup idea is primary research through qualitative conversations and surveys to get direct insights.
– It’s easier to win a small market and then expand, rather than building for a large market with limited resources.
– Soft launching is a great way to test your riskiest assumptions and enable product creation with real customers.
– Knowing the problems and anxieties of your target users is more actionable than broad demographics when validating a startup idea.

Oz is the founder of PMF Studio, a boutique consultancy focused on helping startups achieve product-market fit. His team’s work spans product strategy, “double diamond discovery”, and data-driven product growth. Prior to founding PMF Studio, Oz had been in product leadership roles for 12 years, 6 of which were at one of the top product consultancies in Canada called TWG. There, he led a team of 30 product managers and also started the Product Growth practice in partnership with industry leaders like Mixpanel, Amplitude, and Braze.

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