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Market Validation: Guidance and Support Services for Entrepreneurs
April 6 @ 10:00 am - 2:00 pmFREE
WHY DO I NEED MARKET VALIDATION?
20% of startups do not progress beyond the first year and an astounding 60% collapse within their first three years.
Entrepreneurs overlook the need to validate market needs and often develop products or services for which there is no market demand.
Market Validation is a process of challenging assumptions, such as:
What is the problem(s) that the customer needs solving?
How big is the problem; where does it occur; and how frequently?
Who is currently looking for a solution to the problem and how much are they willing to pay to solve it?
How does your solution address the customer-identified problems
Where does the new technology fall short of satisfying customer needs?
Why hasn’t this problem been solved already?
What are the current and future barriers that will prohibit the use or implementation of the new technology to solve the problem?
WHAT SERVICES ARE AVAILABLE?
MWED and MMEC are partnering to host a luncheon-class that will guide entrepreneurs and product managers through the process of Market Validation. MMEC Business Advisors leverage their expertise in market research, data analysis, and new product development to inform client-specific ventures with powerful and actionable insights.
HOW WILL MY COMPANY BENEFIT?
Market validation demonstrates that you are not only reducing your risk of failure, but reducing risks for your investors as well. Investors will therefore want to see evidence of market validation in your business plan. Without it they may assume your product or service is not commercially promising. Every decision your business makes should be well-founded with data and research. Underestimating the value of market validation will unnecessarily increase your risk and unsettle investors.
This event is free. Register to attend.