How to Validate Your Idea?

Guide
EL

Eric Lamideas

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TL;DR

20min6min

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.