Idea Validation – How To Test Your Business Idea – Help From Adam Callinan

The article, Test Your Idea With These Simple and Inexpensive Steps, is really the best and simplest article on Idea Validation I’ve found. The author says a lot very briefly.

The following are excerpts from Resource (1)  Test Your Idea With These Simple and Inexpensive Steps by Adam Callinan, June 18, 2014, from Entrepeneur:

To get started, you’ll need to create a bare minimum service or product that will allow you to attract users or customers, then test how they interact with your idea. The goal is to spend as little as humanly possible to begin getting user feedback so that you can iterate or change your product/process to make it better and determine whether it’s viable.

Do not overbuild your product and create something that is impossible to test.

Instead, start with one basic principle or functionality that is the foundation of the solution. When you’ve devised your principle, you can easily and inexpensively purchase a domain, quickly put up a website or landing page through WordPress or Sqarespace, insert an analytic function in your site through Google Analytics and use Google AdWords to test keywords. If this seems complicated you’ll have to trust me, it’s not — just go to YouTube for detailed instructions on any of these steps.

This will allow you to very inexpensively see the rate at which people are viewing your ad, then clicking on it and ending up at your website. This is the first step to proving a basic concept — is this something people actually want?

This will allow you to very inexpensively see the rate at which people are viewing your ad, then clicking on it and ending up at your website. This is the first step to proving a basic concept — is this something people actually want?

Once you get past the initial steps, one of the best ways to truly test your model and message is through a crowdfunding platform. This will give you the opportunity to begin creating your brand while pre-selling product to early adopters, proving that people are actually willing to pay for your idea.

[The critical first step in idea validation is finding out whether there are people willing to pay for your product. Family or friends saying they like it means little or nothing.]

Now that you’ve successfully created and tested your product or prototype, as well as collected some early users and data, you can use the extremely valuable information to seek funding or do it the old-fashioned way and grow your revenues organically.

Resources:

(1) Test Your Idea With These Simple and Inexpensive Steps by Adam Callinan, June 18, 2014 from Entrepeneur.

(2) How To Get Startup Ideas by Paul Graham, Nov 12, 2012.

(3) Schlep Blindness by Paul Graham, January 2012.

(4) Validate Your Business Idea — Quickly — With These 5 Steps by Peter Gasca, September 18, 2014, from Entrepeneur.

(5) 9 Entrepreneurs Reveal How They Validated Their Business Idea by Anand Srinivasan, April 29, 2014 from Entrepeneur.

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