Alright, you have a very great company concept. You are enthusiastic. Perhaps you already picture the logo, the website, the millions coming in… Still wait, though. Do people really desire what you are offering?
That is the actual query. And let’s discuss business validation—that is, ensuring demand for your good or service before you commit yourself to something that could fail.
This may be accomplished in two ways: soft validation (fast, simple, no money invested) and hard validation (takes more effort but provides absolutely solid evidence).
Allow me to dissect it.
One approach for soft validation is the DIY Market Research Methodology.
This is the lazy—yet still useful—method to find whether your concept has legs. Just a little investigative work—no audience, no commercials, no expenditure of money.
Here’s how to do it:
First: Google Right? It sounds clear-cut. Really, though, that’s a warning sign if nobody else is looking for your concept.
Go Google with your company concept. What emerges?
Exist rivals acting in such manner? (Competition is really a positive indicator as it indicates demand!).
On sites like Quora or Reddit, are people posing queries on this issue?
Second step is: Amazon Experiment
For market research, Amazon essentially is a gold mine. Assume you are considering launching a millennial personal finance company—sounds great!
Go for books on the subject.
There are how many results that show?
Are they selling effectively? Many reviews equal many of your curiosity.
Here is where it becomes difficult now. Perhaps you find “personal finance for millennials” lacks the books or reviews you would have expected. “Personal finance for young adults,” nevertheless does.
☺ lesson: lesson Perhaps you should somewhat change your niche.
Third step is a YouTube check.
Daily viewers of YouTube spend hours upon hours. If your idea is strong, someone most likely already has material about it.
Go Google your topic on YouTube.
Look at the top videos; do they include many views?
View the channels; are they expanding?
If nobody else is talking about it, either you have discovered a rare but possibly hidden gem or… nobody cares (more usually).
Fourth Step: Online Communities and Facebook Groups
Go to Facebook and hunt for ideas connected groups. If you find: ✔ Tons of active groups -> Positive indication People enjoy it;❌ No groups or involvement → Yikes. Perhaps not the most suited niche.
Two-sided hard validation: the Real-World Test
Though let’s be honest—soft confirmation is not proof. You have to test your concept in the actual world if you really wish to be sure it is strong.
Here is the approach:
First step: the “Ask People” approach (yes, you have to talk to people).
I understand, cold phoning and emailing folks may be embarrassing. Still, I promise you this is gold.
Look for possible clients via social media, LinkedIn, networking events.
Send them a brief note saying, “Hey, I’m considering starting [your company concept]. Are you particularly interested in this?
Look at their responses. If many individuals say, “OMG yes, I need this!” you’re on target.
Second step is: Plan a poll or survey.
Use SurveyMonkey or Google Forms and probe:
You would pay for this good or service?
Your main difficulty with [your concept] is what?
You would be ready to pay how much?
Post it then on pertinent LinkedIn, Facebook, or email list (should you have one).
Third step: pre-sale your commodity or service.
The final test is this one. You have a winner if people pay for something before it ever comes about.
Design a landing page including a pre-order choice.
Offer customers who buy today an early-bird discount.
Should individuals truly pull out their wallets? You run company.
3️⃣ Your Validation Result Action Plan 🚀
If someone shows interest: congrats! You have something worth looking at. Now polish your offer and start construction.
✨ Should there be little to no interest, do not panic. Rather, consider whether the messaging needs to be changed.
✔️ Am I aiming for the incorrect group?
✔️ Is my specialty really small?
Sometimes a little shift will make a “meh” concept a million-dollar one.
Last Thought: Never Miss This Stage.
Look: I get it. You seem eager. You want to go right in, develop the website, design the product, and start turning profits. On something nobody really wants, though, you may be squandering months—or even years—if you ignore validation.
So, back off. Validate your concept. And when you are certain it is solid? Go wholeheartedly.
✉ 🚀 Tell me in the comments—how are YOU confirming your company concept?
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