How To Validate Your Startup Ideas
Want to know why building a tech startup is TWICE as hard as opening a restaurant?
It’s because both the product AND the market are unknown.
They need to be figured out…
… for a sushi restaurant, you just need to know if people in your city eat sushi — which most do.
So the risk is only in building a great restaurant experience… the market & “product” are proven.
With tech, it comes down iterating and testing both of these assumptions:
1. Will the product actually do what I think it will (technology / science / etc).
2. Will anyone want it?
The cool part is both of these can be figured out fairly quickly if you do it right.
One word of caution:
It does NOT require an MVP (Minimum Viable Product).
Actually, I have a huge problem with the term MVP because it has the word “product” in it.
I have a much different (and far more cost+time efficient) approach that I cover in today’s video:
It really comes down to a few simple frameworks that I’ve created to help you validate your ideas… and generate the confidence (and initial funding) you need to go all in.
Here they are:
1. Idea: Problem, Pain, Passion
2. Validated Research
3. Clickable Prototype
I’ve used this approach to build ALL my companies and it doesn’t matter if it’s for a consumer application, or a solution for big Fortune 500 companies — it can be done.
So before you pour your savings (and the next 6 months) into building an “MVP”…
… take 5 mins right now to watch today’s video and make sure you’re setting yourself up for success right out of the gates.
Have an incredible day!
Dan Martell has advised more startups than his hometown has people and teaches startup founders like you how to scale. (Get the free 3 videos to grow your business here.) He previously created, raised venture funding for and successfully exited two tech startups: Flowtown and Clarity.fm. You should follow him on twitter @danmartell for tweets that are actually awesome.