What is idea hacking, how it works and why it’s important?
If you’ve ever wondered what they are, how they work and what’s the point, read on.
All the participants who have a startup idea make a 90 sec pitch presenting the problem, who are the possible customers, what’s the solution and the ask.
After pitching, the one's scouting for ideas can join the pitchers. It often happens that some ideas do not get anybody interested. Sometimes, later in their startup life, the people with pointless ideas, turn out to be very successful. So, nobody really knows if you should join somebody with not so attractive idea, stay true to your own idea that nobody seems to be interested in, or join other teams.
Now that you have a great team with new talented friends on board, discuss and elaborate on the idea. Most importantly concentrate on “the pain” or the problem you’re solving and your customers - who are they and why should and would anybody pay money for your product or service.
Pitch your updated idea again to mentors and other teams.
Get valuable (read: tough) feedback.
Pick up the pieces and start again with the aim that in the final pitching round both your team as well as all the others in the room are convinced that the idea you’ve been working on, has a point and a big future. Now you’re ready to hack, start building a prototype and reach out to your first customers to understand if there really is a need and willingness to use (and pay for) your services or products.
Testing your ideas with like-minded possible team-mates as well as experienced mentors, will most likely give you an understanding if you should continue with it or pivot it in order to work. In addition idea hacks enable you to:
- Practice pitching or at least participate in creating the pitch.
- Get new great contacts - mentors, investors, others like you.
- Get valuable feedback to your idea & instructions on how to make it big.
- Get more crazy startup ideas.
Garage48 next idea garages are:
- 9th June Vunk Idea Garage vol 1
- 24 August Vunk Idea Garage vol 2
- 31 August Vunk Idea Garage vol 3
- 7 September Vunk pre-hackathon event
Keep an eye on Garage48 events: https://www.facebook.com/Garage48/events