The success of a new startup idea is largely dependent on how well the end product or service sells. This cuts across all kinds of startups even for a non-profit, you still have to sell your product or idea to benefactors, investors, volunteers, etc. New startup ideas for the most part usually have very little validation and many assumptions are inherent in them. Testing out your new startup idea is critical to its successful execution. If you have read Lean Startup by Eric Ries, you should know that you need to have business-hypothesis-driven experimentations, iterative product releases, and validated learning. Your startup should be analyzed objectively to prevent great loss of resources. However, this can become costly in the real world especially with user testing. A coworking space can make this easily achievable. Coworking allows for innovative collaboration with individuals who bring new and critical feedbacks to projects that you may have either overlooked or never considered. Various ways exist to test your ideas in a coworking space.
Coworking spaces thrive off networking. Networking events at coworking spaces are often centered around showcasing innovative talents and new startup opportunities. The audience is usually fully packed with investors, startup founders, potential users, as well as sponsors in the market for a new idea that could benefit their bottom line. This is a great opportunity to get you startup idea in front of other people. You could pitch your start up idea or do a live demo to make everyone at the event to at least be aware of your product. At Treehouse Society, our past events include pitch night, startup showcase, pop up shop, happy hour, investment firm office hours, and other networking events. All of our events are free for members to attend making it even easier for your startup.
Get your coworking mates to test out your idea(s)
Whether your startup idea is a product or service, testing out your start up idea by running it through your coworking mates is a great way to start. This is because creativity flows in coworking spaces, unlike most other conventional leased office spaces. Organize your coworking mates together and make a presentation of your new startup idea where you could then receive immediate feedback as part of a group discussion. This allows for constructive criticism which drives critical thinking to enable you to decide if the idea is viable. A survey is another effective tool that can be used to gather information about your startup idea. The information gotten from carrying out a survey in your coworking space can then be analyzed to draw inferences. With their feedbacks, you could come up with alternative versions of the same product before you launch the most successful version of your product.
For new startup ideas, technical hires who can visualize the idea and turn it into a business venture are usually in high demand. Recruitment remains one of the biggest bottlenecks that is holding startups back from achieving their business goals. A coworking space is the perfect place to find talented, goal-oriented, and hardworking individuals. These are definitely the kind of people you will need to test out your new startup idea. The best way to attract talents for your new startup idea is to discuss your vision, goals and driving force. Inform your coworking about the type and level of competencies that are needed, while simultaneously giving an outline of your project objectives.
The coworking space provides the right kind of environment to test out your new ideas. Leverage on the richness of a coworking space and succeed in the transforming your new startup idea into a profitable business venture.
Next: 5 Reasons Why Coworking is Perfect for Your Startup