How do you validate your start-up idea without revealing too much?

In my experience, I think entrepreneurs over-estimate the actual risk of sharing their idea in order to get critical feedback and support. Stealth mode is for fighter jets, not startups Yes, there is a vanishingly small chance that some other entrepreneur/team hears about what you're doing and then go copies it and does exactly that. In practice, around most ideas, there are *already* other teams working on similar ideas. And, if so, you're better off knowing what's going on in the industry instead of working in the dark. My advice: Share your idea broadly. The tradeoffs are worth it.

In the life sciences field after interacting with many early stage biotech companies, this is what I observed repeatedly. Founders put a lot of emphasis on unmet medical need or gaps in the existing therapy, leaving out or diluting the novelty on one's own innovative idea and not making it clear that a strong claim-patent was filed. If one has good insights on the solution, and is confident that it is not easy for someone else to copy (in lifesciences it is the case) then feel free to talk about your unique position and solution without revealing the critical (how-to) details. It is a strength than weakness in my opinion.

How the heck are you supposed to validate your idea without disclosing Any details of your idea? It’s a silly waste of time to try and protect an idea. The value of an idea isn’t in the having it. It’s in the doing the work to bring it to market successfully. Everyone has ideas, but most people can’t execute on them, because they’re too busy protecting them to properly validate them.

🧠When folks talk about their "Idea" they are usually focused on some amazing new solution for a problem they've observed or had themselves. They may spend months or even years tweaking details of a solution and keep their "idea" quiet, afraid it will be stolen. This is wrong. Good ideas are NEVER enough and someone has the same "idea." I promise you. Great products come from deeply understanding problems and the people who have them. Early stage discovery should never focus on the "Solution." It should be about outcomes people want to achieve, how the do that today & what's holding them back. Every interview, every landing page test, is to validate the problem. Don't worry about theft. Worry about building the wrong thing. - RJW

I see too many start ups rush to product validation questionnaires and interviews. What you really want is to focus on mindset interviews. Uncovering the forces at play during the purchasing journey: what is pushing them away from the current set up and what would pull them towards a possible solution and finally what concerns might stop them from buying. The type of open questions that they might want to ask are: - What was no longer working for you? - What were you looking to accomplish? - Did you have any concerns about this new solution? An additional bonus is that these questions do not give anything way. Fall in love with the problem not the solution to be a successful entrepreneur.

I would approach it this way: 1. Research the existing solutions and competition. (Tons of info available) 2. Share what problem you are solving, but don't share specifics. (ie-You create a soft drink, and not disclose your formula) 3. Network with experts and potential customers for feedback.

Validate your solution by getting people to use it for the use-cases you envisioned in your ICP and in the industry(ies) you target. If you can’t get users to use, get the buyer/user to write a letter that they would use it if you built it this way or it did that (and then do that). Ultimately the best validation comes from sales. Will anyone give you any money at all for your MVP? If they won’t say they will use it writing, use it for free, or buy it, then you haven’t hit the mark. Keep trying. It’s not easy and never will be.

To validate a solution and get it in front of the right audience successfully you need to be able to articulate the value proposition of the solution and speak the language of your target audience. Products have 3 levels of messaging - Upwork.com example: Benefit: Build your business with top freelancers. Capability: Post a job for free and connect with independent talent today. Feature: Project Catalog by Upwork. Look at articulating all of these and lead with the benefit statement in your messaging so your audience is clear what's in it for them. They want to know how does that allow them to create the change they are after.

Market research is a must and product validation is a must. Just make sure you’re getting real feedback i.e. would they actually pay their money for your product? (Not just say they’d pay)

Many people rush to build the actual MVP, which most of the time ends up being way more than an MVP. This is still expensive, especially if you are talking about software. My experience tells me that before starting your actual MVP make a prototype or wireframe of your software using tools like Figma. This will help to validate that what you have in your mind is actually solving a problem for the user and people will be willing to use it. You will confirm as well IF your solution includes the user's needs or not, let the customer guide you on what they really need and not what you thought they needed. Don't waste money on expensive MVP, Once user needs are confirmed and the solution is validated, now you are ready for your MVP.

I think this is a waste of money for 90% of startups to do early. If you’re in deep tech/science then sure. For others, the best defence is offence. Why? 1. Lawyers are expensive and 80% of business fail anyway. Focus on succeeding first. 2. Patents reveal your innovation. Coca-Cola has no patent… it’s just a secret. 3. Do you have millions to battle it legally? No. Better to build a better product and defend it in market. 4. Even a simple trademark requires proof of in market existence + ~12 m of awareness for others to challenge your trademark. That’s forever in startup terms… Startups win on speed, product, and focus. Incumbents with cash and legal. Don’t play their game. Play yours.

In over twenty years of working with start-ups on IP issues, I can only think of one circumstance where a start-up failed because someone stole its IP. However, I can think of DOZENS of start-ups that failed because they were overly protective of their IP and wouldn't tell potential investors or customers what they needed to know in order to make it to that next step. By all means, have a smart IP strategy. But realize that start-ups are about taking risk. If you aren't prepared to take risk, the start-up area isn't for you.

IP protection is an essential competitive advantage and moat for your business. Costs may well be a factor in your decision, but if you’re on to a breakthrough, that should be a nominal concern compared to the barriers to entry it will build, and the investor confidence it will inspire for your product and brand. Good IP lawyers can make the difference between a successful and a failed M&A deal down the road.

TAKE THIS SECTION OUT The notion that IP will protect you or that patents actually matter, is completely false; perpetuated by Universities trying to commercialize (sell) their IP and by lawyers who get paid to help you. The only thing that matters in pitching an idea is proving that you can deliver and create value. There is nothing to "steal" or protect because IF YOU can't, then you shouldn't. Ideas aren't original; you have one, that hundreds of others have - can you fulfill it or not?? Claiming it can be stolen, or needing to protect it, is about as straightforward a way as there is to say, "I can't do this... so I'm going to Legal Up to prevent anyone else from doing what I can't" Do NOT ever spend money to protect an idea.

Many founders have concerns about their ideas being stolen, but the truth is that ideas are abundant and often not unique. What truly sets successful ventures apart is the execution of those ideas. It's the ability to take an idea and turn it into a tangible product or service that creates value for customers. So, while it's important to protect intellectual property when necessary, focusing on executing the idea effectively is what truly matters in the long run.

I totally agree, I'd add to find your unfair competitive advantage vs competition. Validation is the key and never ends, and standing out among other solutions will make it even stronger.

Managing relationships in a startup innovation project is crucial. Here are 7 tips to help you: 1. Clear communication: Maintain transparent and open lines of communication. 2. Build trust: Focus on building rapport and positive relationships by being reliable, honest, and delivering. 3. Encourage collaboration: Encourage sharing of ideas, insights, and expertise. 4. Engage stakeholders: Actively involve stakeholders throughout the process. 5. Reward contributions: Celebrate successes, publicly give credit where it is due, and offer incentives. 6. Manage intellectual property: Clearly define agreements and expectations regarding IPR. 7. Foster a learning culture: Promote knowledge sharing, reflection, and encourage experimentation.

Ideas are easy (and cheap) but having a strong product market and most importantly being able to execute well is the most important thing. There are a number of factors to success for start-ups, a strong team, a good idea, and access to funding - but the one that gets forgotten is timing. Having a strong network will help you to execute your plans and deliver your product or service in the market sector you have selected. Sharing your idea, initially with the people you build around you to be the core team, and then eventually to prospective clients, partners, investors, etc only adds value to your idea and potentially opens additional opportunities that you have not thought about.

Growing your personal brand as an entrepreneur or founder through creating and sharing original content and meaningful engagement will help you establish yourself as a thought leader in your field. This can be done through long-form content such as a newsletter, audio or video lives, or short-form content that speaks to your target niche (posts, videos, and polls). Having personal brand equity will allow you to attract talent to work with you, business partners, and your clients (inbound leads).

Thoughts? Sure! I’ve been building and taking companies together and taking them public since 1962. Follow the advice in this article and you’ll never see your own company or idea again.