How do you like my idea?
6 October 2017
Starting a new business or considering a new product or service? It’s wise to first ask potential clients what they think. To make this easier, ING in Poland has introduced an online tool for entrepreneurs and prospective entrepreneurs to test their business ideas.
Is it worth checking what future customers think about your business idea? [00:28]
The success of big companies is often fuelled by expensive trials, prototypes and product tests before launch. It is not always as easy for small businesses or prospective entrepreneurs to do the same.
In Poland, up to 60 percent of firms close within the first year. To help entrepreneurs better prepare, avoid mistakes, and help them take the first steps towards in setting up their own business, ING in Poland last month launched the online tool Test Your Idea.
Entrepreneurially-minded Poles can go to the Test Your Idea website and introduce their business with a short description or a video, and fill-in a target group questionnaire. The tool allows for testing a business idea using a sample of at least 120 respondents matching the prospective target audience. This gives small business owners the opportunity to test their idea before launching it.
In the first three weeks, despite a low-key launch, already 110 aspiring entrepreneurs have introduced their ideas and received valuable feedback. The first reactions of Polish entrepreneurs have been positive. The tool will continue to be tested, and then promoted more actively to offer entrepreneurs an opportunity to make their entry into the market a success.