Generation of a unique idea is considered as the first step to making your own venture. But it is important to check if the idea is valid enough to support a completely new business.
People running the start-up usually thinks that sharing of an idea can open up their secret to the world and thus prefer not to validate the idea before the launch. The Validation of Idea is an essential step to ensure the success of your business. You must and sure should check what you want to delivery is in demand.
Here are some tricks which are used by the successful business person to validate their business idea.
Yes, this is a useful tool to check if people are interested in your idea. Just mail about the upcoming product of your business and verify if people are ready to pay for it. This concept was used by the creator of Drip and founder of Nyma Group, Rob Walling. The willingness of the potential customer to pay for the upcoming product boost the path of growth of the company.
2. Make your friends your First Buyer:
Your classmates, family members can be your first customer. In this way, you can get the exact feedback and also can see if the venture has a future or not. The founder of Flashnotes.com, Mike Matousek used this idea to validate his business. He sold the first guide to his classmates to find out the how useful it is and if it is in demand or not.
3. Run an online on-demand service check:
You can run [pay-per-click] ads through Google and Bing to check if people are ready to use the services. You should provide a booking form along with the add and just check if people actually sign up for the services. The president of CheckMaid.com, Alex Brola used this trick to validate the business idea.
4. Pay in Advance:
Stood up a signup page, bought some AdWords traffic and check if people sign up and ready to pay before the product is launched. This helps to see how many people can be your potential customers. It is a very right way to track and validate the idea. The co-founder of Tailwind Danny Maloney used this trick to validate the Pinterest analytics tool before the launching of the product.
5. Approach to the prime seller of the product:
See who is the best seller in the market or industry you deal. Provide a sample of your product to them and check if they are ready to sell your product line along with their existing product. If you get a yes from them then the market is open for you. The owner of Senor Sangria, Rick Martinez used this way to validate the idea.
So, these are the different well-tested tricks one can use to validate the business idea.