Third post of the 4-post mini-series in which we talk about how to validate a minimum viable market. In this part 3, we will look at the importance of devising a solution to the problem.
Minimum Viable Market Validation Phase 3: Devising a solution to the problem
Once we have identified the specific problem areas and the target audience, the next step is to create solutions tailored to the focused market niche.
When devising solutions to a problem, it is important to consider different types of solutions. The idea is to choose the most feasible, viable and desirable solution. At this point, we should consider these points to guide the ideation process:
- What is the objective or desired outcome that users are trying to achieve?
- What are the values that the customer is potentially seeking?
- How can we deliver those values through the solution?
- What are the pros and cons of each solution?
Example of solution ideation to address a minimum viable market validation problem
Let’s imagine we want to help busy professionals achieve healthy fitness. The target audience is health conscious with high income and values physical appearance. Let’s look at some possible ideas below:
Personalized meal kit delivery for healthier eating.
DNA-based nutrition program
Holistic digital clinic backed by a team of doctors, trainers and nutritionists.
From each of the ideas we have to establish what would be the pros and cons, in order to perform a demanding assessment and filtering. Under this approach, we will be able to obtain that favorite idea that will be the basis of the business.
Which idea generation technique do I recommend? My favorites are Lateral Marketing, The 7 Lateral Sins, Gamestorming or Inside the Box.
Photo credit: PX
