We all have great ideas but ideas without execution are just ideas in thin air. Validation allows you to test the market and get a feel for your product or service. Validation helps you to find that sweet spot about what the market needs and what you offer. It also saves you from spending months building the wrong product and spending your time and resource on a product that no one wants. So imagine you have 24 hours only to validate your business idea. Where do you do start?
1. Think like a scientist. You have a hypothesis and you need to prove it right or wrong.
Having this kind of mentality really helps. There’s a lot of assumptions and talks in startups but the moment you realize the whole thing is an experiment you are the winner! Experiment. Test. Put it out there.
2. Start Testing: Post a flyer with a compelling value prop.
A compelling value prop along with amplification on social media. You can share your post on our Facebook group. Check out the flyer below.
3. Create an ad on Google with a pre-launch to get a feel of interest.
Ads can be incredibly useful for startups. Figure out the keywords for your industry and put an ad together with a pre-launch page to see the interest. Check the analytics and the data behind the site traffic! This gives you a very clear indication of the interest. If you need help getting started with SEO check out our SEO crash course here.
4. Throw a landing page but drive traffic using paid and non-paid channels.
Throw a pre-launch landing page about your idea. Add value prop and why it’s exciting to sign up! Next throw in some ads and share on social channels. If you need help with building a landing page check out our crash course on how to build a website in less than one hour.
5. Make a survey but add an incentive for the users to fill out.
I see a lot of surveys on our communities, but add an incentive for the users.
Here’s an example of an ad that is nicely done:
I am looking to interview entrepreneurs from the age of 18 to 29 for a school project to understand the challenges faced by young entrepreneurs in securing funding. The interview can be conducted online (Zoom) or in-person at a Starbucks or any cool coffee shop of your choice.
What do I get?
45-60 minutes of your time via online meeting (Zoom) or in-person.
What do You get?
– a $10 Starbucks gift card (out of my own pocket).
– a 15 to 12 mins chat about my strategic view of your venture, Harry Potter, Marvel, Games of Thrones, Paulo Coelho, or any fun stuff. I am:
– a 2nd-year MBA student specializing in Technology & Innovation.
– an IT professional with 17+ years of experience specializing in cybersecurity.
Why should We do it?
To influence the change in government policy to ease funding for young entrepreneurs using these interviews in a study led by an entrepreneurship professor at a leading business school.
Why do I do it?
To work on an assignment that not only gets me my grade but also has a social impact. The alternative is to write an essay and just hand it in.
6. Actually get out of the building and talk to your potential users.
This is well-known in the lean startups. It’s that simple! Start to schedule those coffee meetings. You can meet some members on FoundersBeta community here.
How did you go about validating your idea? Let me know!
