Your ultimate goal is to figure out, as quickly as possible, the right thing to build that customers want and will pay for.
Before you can build anything, however, you must be able to 1) clearly articulate the problem/need that your customer has and 2) be able to find customers that have the problem.
Our 4-week Idea TestLab helps you get a better handle on what problem your customer really has, where they hang out, and what value you can provide that others can’t.
The next Idea TestLab will take place fall 2018.
Applications will open late August, 2018.
Successful startups fix problems and meet the needs of their customers. But, before you can build a solution to do that, you must verify that they actually have the problem for the reasons you think they do.
As part of the Idea TestLab, you will:
It’s critical that you can clearly describe your customer, not only in terms of the job they are trying to get done (or the need they have), but also in terms of who they are.
The Idea TestLab helps you:
“I’ve had the idea in my head for a few years now, but I needed that push and direction to turn that idea into something real.”
Our programs are free. We take zero equity in your business and charge no rent to use our facilities.
Get 24×7 access to our facilities for the duration of the 4-week program. Also, free coffee and Wi-Fi.
Sign up for weekly 1-on-1 mentoring sessions to get additional help building out your idea.
Individuals/teams who have successfully completed the Idea TestLab program will be fast-tracked into interviews for our Accelerator program.
The Idea TestLab is best for individuals who have identified a problem (or idea) they want to work on, but have not yet systematically collected data to validate the problem/need and who has it. We look for scalable ideas that have an unclear, or unknown business model.
We are looking for teams or individuals who…
Nope. We welcome individuals who are looking to better define an idea for their business.
In fact, we hope that you might be able to find others to work with by participating in this program and hanging out at the LaunchBox.
The question to ask yourself is, based on what you have learned by talking with potential customers (not your friends or family), can you clearly articulate the answers to the 5 questions below?
If you are unable to clearly answer all the questions in detail, based on real data from potential customers, or others can’t easily understand what you’re talking about, then the Idea TestLab would be a great place to start.
If you have talked to numerous potential customers and can answer the questions based on what you’ve learned from those customers, and others can easily understand what you’re talking about, then the FastTrack Accelerator may be the best program for you.
That’s hard to say. We can tell you, however, that by the end of the 4-weeks, you will:
With all that under your belt, you’ll be ready to start building a minimum viable product and start testing the market.
No funding is provided as part of our Idea TestLab at this time.
No. We take zero equity and charge no fees.
Our next Idea TestLab program will be held in fall 2018.
Look for applications to open late August 2018.
That’s it. Simple.
It is our expectation that all participants are serious about, and will be dedicated to, testing their idea. Participants in the Idea TestLab should be prepared to spend between 7 – 12 hour a week during the 4-week program.
Time commitment includes 2 hours a week in a weekly group meeting and 5- 10 hours preparing for and carrying out customer discovery.
Not required, but recommended.
If you have others that you are working with the 4-week program is a great way to get everyone on the same page and see how well you work together.
The 2-hour group meetings are held from 6-8PM on Wednesdays here at the LaunchBox. Specific dates will be posted in late August.
Lee brings 25 years of business experience to her job as LaunchBox coach. As the co-founder and CEO of Erickson Barnett, a full-service marketing agency, she worked with B2B technology startups and some of the world’s largest venture capital firms. She also brings hands-on experience with customer discovery and design thinking sprints to help startups drive innovative solutions that solve real problems.