The Quick and Dirty Guide to Validating Your Startup Idea

How to design and conduct a meaningful lean startup experiment

Hi everyone, Alex here. At Launch Academy, I am lucky enough to surround myself with so many talented early-stage entrepreneurs. After four years of mentoring 1000+ entrepreneurs and building six startups, I’ve consolidated my learning and developed a framework that you can apply to your next startup idea.

TLDR:

1. Fully understand the problem you’re solving
2. Know who your early adopters are
3. Make sure you are solving the problem for the right people
4. State your hypothesis and create a test plan
5. Design your test to validate your solution
6. Set your expected metrics
7. Compare your expected metrics with your observed metrics and make a decision
8. Sign up to our free email course and receive a curation of startup resources that I’ve collected in the past 5 years

Step 1: Have an in-depth understanding of the problem