This can be done through research

Advantage. Demonstrate Value to Stakeholders Whether you're trying to attract business partners or raise funding for your company, you'll be provided with evidence you can use to prove your idea. Presenting the results of a feasibility test can help you build trust with key stakeholders who have questions or concerns about trying something new. How to Write a Proof of Concept If you have an idea or project that you want to use for testing, follow these five steps.



Determine the need The first part of validating a product, feature, or business is Phone Number List proving that people have a need or desire for your idea. To determine the problem your idea solves, look at your customers’ pain points or market gaps. Here are some tips you can use to clearly explain the need you want to solve. Define your target market: Who are the people with the problem? Consider the size of your target audience as it represents your total target market or opportunity size for your project. Describe the impact: What loss did this issue cost the potential customer? The answer can be time and money, or it can be safety and peace of mind. Identify current solutions: What are people currently doing or using to deal with this problem? Consider the flaws in existing technology and how the problem might be better solved.





Find evidence: Use market research and internal data to support your claims. , survey results, or anecdotal evidence such as product reviews. Outline your solution Once you have clearly defined the problem or market need, show how your proposed solution solves the customer problem. Your description of the solution will vary depending on the concept you are testing. Here are some common project examples and what they include: New Products: Include product features, specifications, functionality. New features for existing products: Describe the functionality and proposed design of the new feature. Business Concept: Outline the business model, including target audience, revenue streams, and cost drivers.