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10 Ways to Validate Great Startup Ideas

10 Ways to Validate Great Startup Ideas

Do you often have great ideas for a startup business, but then second-guess them? Being an entrepreneur, it is quite common to experience self-doubt, especially when you are just starting out. So how would you really figure out if your idea is worth the risk? What are ways in which you can validate your great business ideas? Here 10 tips to to get you started:

1. Research

Whenever beginning anything, especially a startup, make sure that you do your research well. Researching will certainly turn out to be one of your best friends. Consider various facets of your business, from your competitors to the requirements of the market. If you cannot handle this on your own, then consider hiring an agency that specializes in research.

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2. Talk to Peers

Keeping your idea a best-kept secret could turn out to be poisonous to your startup. Perhaps it is essential to measure whether your ideas are realistic or merely a soon-to-burst bubble. Here, conveying your ideas to peers would be of great benefit to you. It can provide you with different perceptions and insights that enhance your original ideas.

3. Perform Random Questioning

Once you talk to your peers and gauge their input do not stop there. It is suggested to strike up conversations with random strangers assuming them to be your target audience, then convey your ideas to them. Communicating your ideas to strangers from a plethora of backgrounds definitely gives you a broader perspective and figuratively view your ideas from a 360-degree angle.

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4. Study Your Market

Do not sit in your cubicle and cook the ideas, instead get yourself right in the market and study it. Enlarge your network and attempt to analyze the demand of the market. Check to see if your idea is already executed and also check the scopes of improvisation of your idea. It is integral to scrutinize your idea meticulously.

5. Assess the Problem

Always account for the problem that your startup is going to solve. If you examine that there is no problem that your startup idea is going to solve then you probably want to rethink your direction. Any startup gains momentum when it is capable enough to solve one or more problems.

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6. Test it

If you have invested your energy and time into the development of a particular idea, try testing it on a small group. Perhaps you can create a website and analyze the traffic generation alongside the feedback. This would act like a pilot survey with critical feedback that is essential for any business.

7. Supply and Demand

It is important for you to understand if the solution your startup addresses is really in demand or not. Perhaps your idea sounds brilliant but is it really the solution that is in demand? Or are there already existing alternatives? Think about it in detail. If the demand is low and you can’t even create it then there is no point in going ahead with the idea.

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8. Investment

No startup can flourish without investing capital in it. Evaluating your idea based on the investment required is also vital in many senses. Once you decide the amount required to invest in things like land and workforce, you need to calculate the return on investment as well. Your startup idea is worth your resources only if you can find the return on investment exceeding the amount that you have invested.

9. Be Futuristic in Your Approach

Perhaps presently your idea looks brilliant and workable but what about five years from now? When it comes to creating an organization, your views and perceptions are required to be futuristic. Make long-term plans, not just short-term ones. One of the best examples to think of here could be the evolution of e-commerce, dating applications, online booking applications, and so on.

10. Right Place and Right Time

Your idea is absolutely useless if it fails to strike at the right place and right time. The right place and time play a crucial role when it comes to the success of the idea. Perhaps your idea is great and worth a million dollars, but if it is launched and targeted to the customer at the wrong time, then the chances of it being a sensational hit are almost negligible.

Featured photo credit: Know Startup via knowstartup.com

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Last Updated on April 25, 2019

How to Write a Career Change Resume (With Examples)

How to Write a Career Change Resume (With Examples)

Shifting careers, tiny or big, can be paralyzing. Whether your desire for a career change is self-driven or involuntary, you can manage the panic and fear by understanding ‘why’ you are making the change.

Your ability to clearly and confidently articulate your transferable skills makes it easier for employers to understand how you are best suited for the job or industry.

A well written career change resume that shows you have read the job description and markets your transferable skills can increase your success for a career change.

3 Steps to Prepare Your Mind Before Working on the Resume

Step 1: Know Your ‘Why’

Career changes can be an unnerving experience. However, you can lessen the stress by making informed decisions through research.

One of the best ways to do this is by conducting informational interviews.[1] Invest time to gather information from diverse sources. Speaking to people in the career or industry that you’re pursuing will help you get clarity and check your assumptions.

Here are some questions to help you get clear on your career change:

  • What’s your ideal work environment?
  • What’s most important to you right now?
  • What type of people do you like to work with?
  • What are the work skills that you enjoy doing the most?
  • What do you like to do so much that you lose track of time?
  • Whose career inspires you? What is it about his/her career that you admire?
  • What do you dislike about your current role and work environment?

Step 2: Get Clear on What Your Transferable Skills Are[2]

The data gathered from your research and informational interviews will give you a clear picture of the career change that you want. There will likely be a gap between your current experience and the experience required for your desired job. This is your chance to tell your personal story and make it easy for recruiters to understand the logic behind your career change.

Make a list and describe your existing skills and experience. Ask yourself:

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What experience do you have that is relevant to the new job or industry?

Include any experience e.g., work, community, volunteer, or helping a neighbour. The key here is ANY relevant experience. Don’t be afraid to list any tasks that may seem minor to you right now. Remember this is about showcasing the fact that you have experience in the new area of work.

What will the hiring manager care about and how can you demonstrate this?

Based on your research you’ll have an idea of what you’ll be doing in the new job or industry. Be specific and show how your existing experience and skills make you the best candidate for the job. Hiring managers will likely scan your resume in less than 7 seconds. Make it easy for them to see the connection between your skills and the skills that are needed.

Clearly identifying your transferable skills and explaining the rationale for your career change shows the employer that you are making a serious and informed decision about your transition.

Step 3: Read the Job Posting

Each job application will be different even if they are for similar roles. Companies use different language to describe how they conduct business. For example, some companies use words like ‘systems’ while other companies use ‘processes’.

When you review the job description, pay attention to the sections that describe WHAT you’ll be doing and the qualifications/skills. Take note of the type of language and words that the employer uses. You’ll want to use similar language in your resume to show that your experience meets their needs.

5 Key Sections on Your Career Change Resume (Example)

The content of the examples presented below are tailored for a high school educator who wants to change careers to become a client engagement manager, however, you can easily use the same structure for your career change resume.

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Don’t forget to write a well crafted cover letter for your career change to match your updated resume. Your career change cover letter will provide the context and personal story that you’re not able to show in a resume.

1. Contact Information and Header

Create your own letterhead that includes your contact information. Remember to hyperlink your email and LinkedIn profile. Again, make it easy for the recruiter to contact you and learn more about you.

Example:

Jill Young

Toronto, ON | [email protected] | 416.222.2222 | LinkedIn Profile

2. Qualification Highlights or Summary

This is the first section that recruiters will see to determine if you meet the qualifications for the job. Use the language from the job posting combined with your transferable skills to show that you are qualified for the role.

Keep this section concise and use 3 to 4 bullets. Be specific and focus on the qualifications needed for the specific job that you’re applying to. This section should be tailored for each job application. What makes you qualified for the role?

Example:

Qualifications Summary

  • Experienced managing multiple stakeholder interests by building a strong network of relationships to support a variety of programs
  • Experienced at resolving problems in a timely and diplomatic manner
  • Ability to work with diverse groups and ensure collaboration while meeting tight timelines

3. Work Experience

Only present experiences that are relevant to the job posting. Focus on your specific transferable skills and how they apply to the new role.

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How this section is structured will depend on your experience and the type of career change you are making.

For example, if you are changing industries you may want to list your roles before the company name. However, if you want to highlight some of the big companies you’ve worked with then you may want to list the company name first. Just make sure that you are consistent throughout your resume.

Be clear and concise. Use 1 to 4 bullets to highlight your relevant work experiences for each job you list on your resume. Ensure that the information demonstrates your qualifications for the new job. Remember to align all the dates on your resume to the right margin.

Example:

Work Experience

Theater Production Manager (2018 – present)

YourLocalTheater

  • Collaborated with diverse groups of people to ensure a successful production while meeting tight timelines

4. Education

List your formal education in this section. For example, the name of the degrees you received and the school who issued it. To eliminate biases, I would recommend removing the year you graduated.

Example:

Education

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  • Bachelor of Education, University of Western Ontario
  • Bachelor of Theater Studies with Honors, University of British Columbia

5. Other Activities or Interests

When you took an inventory of your transferable skills, what experiences were relevant to your new career path (that may not fit in the other resume sections?).

Example:

Other Activities

  • Mentor, Pathways to Education
  • Volunteer lead for coordinating all community festival vendors

Bonus Tips

Remember these core resume tips to help you effectively showcase your transferable skills:

  • CAR (Context Action Result) method. Remember that each bullet on your resume needs to state the situation, the action you took and the result of your experience.
  • Font. Use modern Sans Serif fonts like Tahoma, Verdana, or Arial.
  • White space. Ensure that there is enough white space on your resume by adjusting your margins to a minimum of 1.5 cm. Your resume should be no more than two pages long.
  • Tailor your resume for each job posting. Pay attention to the language and key words used on the job posting and adjust your resume accordingly. Make the application process easy on yourself by creating your own resume template. Highlight sections that you need to tailor for each job application.
  • Get someone else to review your resume. Ideally you’d want to have someone with industry or hiring experience to provide you with insights to hone your resume. However, you also want to have someone proofread your resume for grammar and spelling errors.

The Bottom Line

It’s essential that you know why you want to change careers. Setting this foundation not only helps you with your resume, but can also help you to change your cover letter, adjust your LinkedIn profile, network during your job search, and during interviews.

Ensure that all the content on your resume is relevant for the specific job you’re applying to.

Remember to focus on the job posting and your transferable skills. You have a wealth of experience to draw from – don’t discount any of it! It’s time to showcase and brand yourself in the direction you’re moving towards!

More Resources to Help You Change Career Swiftly

Featured photo credit: Parker Byrd via unsplash.com

Reference

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