How to Validate Your Idea?
Guide
EL
Eric Lamideas
TL;DR
20min → 6min
This guide provides a comprehensive approach to validating and launching a business idea, showing the importance of solving real problems, bootstrapping your brand, using a minimal tech stack, leveraging free promotion, and assessing results systematically.
Be the Solution
- Focus on solving a real problem in the market.
- Avoid the “solution looking for a problem” trap, like the company Segway did.
- Successful businesses like Coke and Pepsi thrive due to heavy advertising and historical context, not because they solved immediate problems.
- Influencer brands, like “Chamberlain Coffee” rely on personal brands as differentiation but often lack long-term sustainability.
- Pursuing a problem-first approach reduces risks and increases chances of success.
Bootstrap Your Brand
- Avoid spending heavily on logos and brand kits; aim for cost-effective market validation.
- Choose a straightforward and memorable domain name via platforms like GoDaddy.
- Utilize free trials on platforms like Canva and Midjourney for logo and brand creation.
- Developing DIY skills in branding will speed up the process and improve proficiency in building online businesses.
Your Tech Stack
- Choose a simple, cost-effective website builder that you are comfortable using (e.g., Carrd, Nextjs, Wordpress).
- Focus on creating a minimal landing page with clear actions (e.g., sign up or purchase).
- Ensure transparency with customers during testing phases; refund payments if the product isn't ready.
- The tech stack is a tool, not a determinant of success; prioritize ease of use and cost efficiency.
Free Promotion
- Avoid using ads during the validation phase as they can give false indicators of market fit.
- Identify and engage with communities that align with your product (e.g., Facebook groups, subreddits).
- Test demand by offering something of value (e.g., vocal presets) and measure responses (e.g., email signups).
- Successful free promotion strategies indicate strong market fit and lay the groundwork for effective paid advertising.
Assessing the Results
- Run the process from idea to testing over 3-5 days, then evaluate outcomes.
- Measure success by signups or purchases; no results may indicate a need to pivot or abandon the idea.
- Achieve 100+ signups or purchase intent as indicators of market momentum.
- Reiterate the playbook frequently to find viable business ideas, learning and adapting from each attempt.
- Persistence, adaptability, networking, market awareness, and self-belief are key to long-term success.