A beginners guide to validating your idea in 3 days

Michael Wong

Michael Wong

Co-founder

It doesn't matter if it's your first time or 10th time launching a new startup. Validating your idea is the fundamental tool that 'smarter' entrepreneurs use to propel them forward.

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  • Validate your idea
  • It gives you confidence
  • De-risks your investment
  • Increases your chances of success
  • Business is about making calculative risks (unless your Blitzscaling but that's for another day)
  • Read this to learn how you can validate your idea effectively in 3 days
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Day 1:

  • Start off with the right mindset
  • Avoid ideas (you'll end up chasing the greater idea)
  • Start with a problem
  • Lets say the problem you're looking to solve is 'helping pet owners find trusted vets'
  • Assess whether you have a personal relationship with this problem
  • Because it helps you see through to the end, if you actually have a connection with it
  • How are you qualified to solve this problem?
  • Prepare an incentive that's relevant to your potential customers. Eg. A set of dog toys, food etc.
  • Find where your customers hang out. Eg. Dog parks, pet stores etc. Secondary: FB Groups, Forums, Twitter Hashtags.

Day 2:

  • Start talking to customers
  • This can be a long process
  • Make sure you ask the right questions without leading answers
  • Your goal is to:
  • Understand the context of the customer
  • Assess whether or not they already have a solution
  • If they do, what can be improved?
  • If they don't, what challenges do they face?
  • Document the responses and topics the people care about
  • Make sure you gather a form of contact method from them:
  • Email or Mobile number
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Day 3: Build your MVP

  • Your goal is not to build the perfect product.
  • The purpose of the MVP stage is to not fall in love with it
  • Fall in love ith the problem and the customers.
  • The solution will always change.
  • How to prevent this, launch it quickly.
  • There are plenty of no code solutions you can use - Webflow, Zapier, Google Sheets, Facebook Groups.

Intro:

  • Growth plays a signifcant part in a product's success.
  • Spotify vs Rdio.
  • Rdio failed to capture market dominance because it focused far too much energy on product and not growth initiatives.
  • Growth is about strategically and rapidly testing ideas to find new avenues.
  • Here are 3 examples of how we helped our client's gain crazy traction.

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