Validating a business idea
What is business idea validation?
Validation is designed to give you you reasonable certainty your business will have a sustainable, growing, paying audience in a matter of days or weeks, rather than wasting months or years building a final product nobody will pay for.
What is not business idea validation?
Validation isn’t a guarantee of success and it most certainly isn’t easy. It’s not as simple as putting up a waiting list and hoping people miraculously discover your offering & fork over their hard-earned money for something that doesn’t exist yet.
Steps to Validate a Business
- Find a Profitable Niche
- Leverage Your Skills and Outsource Your Weaknesses
- Create an Early Feedback Group
- Have One-on-One Conversations With Your Target Market
- Develop a Competitive Advantage
- Grow Your Email List
- Build a Proof of Concept
- Launch and Get Pre-Orders From Your Email List
- Continue Building and Tweaking With Feedback