AI Startup Blueprint

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Module 3: Validation

Getting LOIs

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Gathering Insights for Validation:

Engage potential customers for validation

Keep conversations relaxed and genuine

Open with: "I'm exploring solutions in your domain. Can you help me understand your workflow and main challenges?"

Listen intently, let them express fully

Propose potential solutions

"What features are crucial for you?"

"Would you invest in a solution like this?"

Probe: "What's a reasonable price for such a solution?"

Emphasize your commitment to addressing their pain points

Collect detailed feedback to shape your product

Highlight product's potential while focusing on the immediate Minimum Sellable Product (MSP)

Utilize surveys for scalable data collection

Procedure for LOIs:

Express need for an LOI to further the product

Seek a verbal commitment first: "Would you be open to providing a Letter of Intent?"

Secure a written LOI for official validation.

Action Items

Use the template to get LOIs from potential customers on your 1-1 calls.

Either keep going until you get LOIs, or change your idea.

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