What do you consider validated?
After a recent post looking for co-founders, I had a handful of conversations with people on IH. Everyone mentioned the need to validate before building, which I do, but where everyone seems to differ is on the endpoint of the validation.
At what point would you consider an idea de-risked? Is it a # on the waitlist? Actual revenue before even building the product?
Would love to here your story and when you decided to switch from validation to building.
Hey Cody,
Validated = there are other businesses successfully selling the type of solution you offer (by successfully I mean they are selling a paying version not just a free one).
That shows there is a market and demand. From there you just need to figure out how to get your slice of that money.
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It depends what kind of validation you’re getting. Loads of people start with customer validation before building the actual product, but the only thing they do is pitch their product and ask whether the potential customer thinks the product is good or not. Let me tell you something, most of them will say yes, but won’t be early adopters.
That’s why it’s really important to dig into the problems of your potential customer and see if you can solve that with your product. After you’ve dug deeper into their needs ask the following question: Would you be interested in testing the MVP for (product)? Tip: let them test it for free and mention a potential discount for when you’re full product rolls out.
With this you’ll find way more validation of your product and in this process you’ll also see other problems that often occur that you might be able to solve and haven’t thought about it yourself.
At some point you will know when you have enough feedback. This point most often occurs when all of your interviewees give the same answers to your questions. If that happens and you get them in as early adopters, then you have you’re validation.
Goodluck :)