Hi! I’m Viktoria, your 10-min a week business partner. I send you something weekly to help you figure out entrepreneurship without losing your mind.
So, you’ve brainstormed a few business ideas—great! But before you dive into investing money or promoting your idea, there’s one critical step you can’t skip: validating your idea. Idea validation is all about figuring out who your potential clients are and, most importantly, whether they’re willing to pay for your product or service.
You’ve probably heard the phrase, “Build it, and they will come.” But let’s be real—it’s more like, “Sell it, build it, and then they’ll come.” Start by selling your idea to a small group of people. If they’re willing to buy, you’ll gain valuable insights and can adapt your offering based on their feedback.
How does validation work?
Many entrepreneurs start with passive validation, like surveys. While surveys can be helpful, they often lead to misleading results. For example, if you only survey friends and family, they’re likely to support you no matter what—or tell you it’s a terrible idea. Similarly, if you only post your survey on Instagram, you’re limiting your audience to a specific demographic, which skews the data.
Here’s a better approach:
Create a quick landing page with a sign-up form to gauge interest. For example, you could say, “Coming in a few months—sign up here to be the first to know or get an exclusive discount!” Later, follow up with a pre-sale page where people can actually purchase your product at a discount. This is a great way to test whether people are willing to pay for your idea.
Another option is to pitch your idea in person. Find out where your ideal clients hang out, and present your idea as if it’s already a reality. You don’t need to have the product fully developed yet—just focus on selling the concept.
Some entrepreneurs also create sample products or a minimal viable product (MVP). For example, Dropbox1 famously launched with a video showcasing their product before writing a single line of code. This helped them build excitement and validate demand before investing in development. Read their story, it is fascinating!
The Two-Part validation process
For me, validation is a two-step process.
First, test whether people will buy your product. This could involve creating a minimal viable product, sampling it, or conducting research to confirm there’s a need.
Second, analyze the financial viability. Even if people want your product, is it worth the cost to produce? For example, if only five people are interested, or the production costs are sky-high, it might not be sustainable.
Both steps are crucial for long-term business success.
The risks of not validating your idea
Relying solely on passive validation—without talking to real clients—can lead to false assumptions. You might think there’s a huge market for your product, only to discover that very few people are willing to pay for it. Or, you might underestimate how costly it is to produce.
The bottom line? Don’t skip the validation step. You don’t want to pour your time, money, and energy into an idea that ultimately won’t work.
Stay tuned for an upcoming publication on how I validated a business idea for a baby gear cleaning service.
The Power of Market Research
Market research is essential, whether you’re launching a startup, a solo business, or a family venture. It helps you understand your target audience, identify competitors, and determine if there’s enough demand for your product.
Stay flexible. Maybe you initially planned to open a brick-and-mortar store but realized it’s too expensive. Could you pivot to an online model? Being adaptable is key to staying agile and iterating quickly.
Remember, entrepreneurship is all about learning, adapting, and taking risks. The more you embrace this mindset, the better you’ll become at navigating challenges and seizing opportunities.
Don’t wait—take the first step today and see if your idea has what it takes to succeed!
Let me know in the comments what is your business idea and let’s brainstorm validation methods to get you started.
https://glauser.com/thoughts/how-dropbox-started-the-mvp-strategy-that-launched-a-giant/