Exercise Day 4 EN

Exercise Title: Discover and Validate: Identifying a Problem Worth Solving

Objective:

This exercise aims to help students understand the importance of problem validation in starting a successful business. They will identify a problem, then use customer interviews and market research techniques to validate the problem.

Duration: 2 hours

Materials needed:

Notebook and pen for each student

A computer with Internet access for each group

Procedure:

Introduction (10 minutes)

Start with a brief discussion about problem validation, why it's important for a successful startup, and how entrepreneurs can validate problems.

Part 1: Identifying a Problem (30 minutes)

Divide the class into groups of 4-5 students.

Instruct each group to brainstorm and identify a problem they believe is worth solving. The problem could be something they have personally experienced, or a problem they have observed. Each group should write down their problem.

Part 2: Customer Interviews (60 minutes)

Discuss the importance of customer interviews in problem validation.

Provide each group with a list of questions they can use to interview people about their problem. This can include questions like "Have you experienced this problem?" and "How often does this problem occur?"

Each group should conduct interviews (in-person if possible, or via phone or video call). They should aim to interview at least 10 people.

Part 3: Market Research (40 minutes)

Discuss the importance of market research in problem validation.

Each group should then conduct online market research to further validate their problem. They should look for existing solutions, statistics, articles, and other information related to their problem.

Conclusion (20 minutes)

Each group should present their problem and the results of their customer interviews and market research.

Conclude by emphasising the importance of problem validation and discussing how it influences the next steps in the entrepreneurial process.

Outcomes:

Students will understand the importance of problem validation.

Students will gain hands-on experience conducting customer interviews and market research.

Students will develop their critical thinking and collaboration skills.

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