5 Quickest Ways To Validate Your Business Idea
Ideas stall because the process of getting them to market can seem overwhelming. In reality, if you validate your idea — prove it has worth beyond the bar napkin on which it is scribbled — the process thereafter actually gets much easier.
Here are few things to consider the next time you have your next big business idea.
1. Share Your Idea
The biggest mistake people make when creating a product of any kind is keeping the idea to themselves. You must share your idea with others. The more you share your idea, the better that idea becomes. or the more apparent that the idea is not a good one. Share it with friends, family, people in your mastermind group, people in your community and even complete strangers!
2. Find Products Like it That Already Exist
Most people think competition is bad – especially if someone else has “beat you to it” and built and marketed your product before you. Entrepreneurs, however, know that competition is a good thing – especially if you find a product like yours before you spend time and money to create it.
3. Create a “Mini Version” of Your Product First
You can do the same thing with your product. Instead of going all out with the full creation of a product, you can create a “mini version” of that product and see what the response is like. It may not be 100% fully functional, but you’ll get honest feedback on a version people can sort of use, instead of just the idea of that thing.
4. Sell Before You Build
Most of the above tips go into making sure you’ve got a good potential idea on your hands, which is obviously important to understand up front so you can continue to build it out the right way. But, if you truly want to know whether or not a product will sell or not, you’ve got to get people to pull out their wallets and actually pay you for it.
5. Review and Decide
The last step is to review all your feedback and decide what worked best for your potential clients. For us, it was unanimous. Every business LOVED one of our taglines. Their faces lit up immediately and said that it spoke to them directly.
