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The Right Way To Validate A Startup Idea

In my experience, many individuals mistakenly believe that obtaining email addresses is sufficient proof of a successful validation procedure. Goal-oriented: targeting customers who have shown a propensity to pay for your service. Not your folks, not your GF/BF, not your neighbors, not your pet dog/cat, but real users. Don't use their approval as proof.

  1. Surveys are ineffective since no one is required to pay to answer the questions.

  2. Every entrepreneur makes a large number of assumptions regarding customer product requirements.

  3. Every founder must avoid being emotionally tied to his concept; otherwise, it becomes challenging to pivot or accept that the idea is not suitable for the next level.

How I mention - a paying consumer is the REAL validation.

What then should a founder do?

Specifically, I advise that you do the following 5 steps.

  1. Figure out who would benefit most from your idea, if you can't locate enough individuals who are having the issue you're attempting to tackle, you should either give up on the notion or switch gears to work on an issue that is already widely known.

  2. Learn about him and his perspective via conversation (not about what you think is a solution). These ideas will shed some light and let you see the forest for the trees if you've been hiding out in a cave. Listening attentively can teach you a great deal, including how serious the issue is, how it's currently being dealt with, and how the user would benefit from the proposed solution. How much would it cost to solve the problem if they did, and who would pay for it?

  3. Realize a sloppy yet serviceable minimum viable product (minimum viable Product)

  4. Once you've done the actual test, you can present the client with your solution and ask him to buy at a reduced price, whether it's a business-to-consumer (B2C) product in which case you can offer lifetime access for a one-time fee, or a business-to-business (B2B) product in which case they can pay a flat fee for lifetime access. As a rule of thumb, we charge around $500 for B2C customers and about $2500 for B2B clients when doing such testing.

  5. Develop a set of tests that are highly consistent with one another (different landing pages, different pricing points to different user groups etc)

1What follows are some suggestions, based on my experience as a business owner, that might be useful at that meeting in the future:

  1. Creating a stunning landing page requires little effort. Try no-cost Bootstrap and WordPress or Webflow templates.
  2. A landing page with a clear call-to-action (CTA) is necessary for action communication without ambiguity.
  3. Explore free consumer outreach strategies (IndieHacker, ProductHunt, Reddit, Facebook Groups, Entrepreneur Slack community and etc...)
  4. Launch ad campaigns on Google, Facebook, or LinkedIn (depending on where people can be found readily) to recruit users and test out your hypothesis and landing page.
  5. Learn about the user journey by trying out various landing page, advertising, and location strategies.
  6. Try out different pricing strategies to learn topics like acquisition costs, operating expenses, and unit economics.
  7. Find influencers in the field and talk to them, sell them the idea. If they think it is worth, give it a shot else iterate and find something that makes sense to an expert in the domain or field
  8. B2B sales cycles are often longer than you expect.
  9. Identify the decision maker quickly and find the shortest path to him.
  10. Intent to purchase is not same as purchase!!!!!!

So, If you're having trouble with the validation process, feel free to get in contact with me or my team and we'll do an audit to see if we can make it more efficient and cost-effective.

Register for FREE audit you can here -> https://unicamel.io/.

Validation is an ongoing improvement process that does not end with the first assumption. Even if you have a genuine issue and a verified solution, you may need to verify additional elements of your concept as you develop it.

So, keep digging for GOLD! :D

on July 30, 2022
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