Скачать или смотреть How To Validate Your Startup Idea Quickly? | Business Basics

Many business founders fail to properly validate their startup idea. As I told you in one of my previous videos, 80% of new startups fail in the first 18 months of their life. Just try to imagine this!

So, in order to become a successful player in the business field, every startup must validate the business idea before launching a product/service. How To Validate Your Startup Idea Quickly? It can be done by doing two things:

#1 – WHAT PROBLEM DO YOU SOLVE: You, as a startup, need to have a defined purpose, which means the founders must have a clear understanding of a real-world problem they are trying to solve. Remember, the problem has to be meaningful, and big. This way people will care about it and would be ready to pay for your solution.

Here are some examples that will demonstrate the real-life application of the theory stated in this video:

GOOGLE: made the search easier and better.

AMAZON: made buying and selling easier and better.

NETFLIX: made on-demand streaming easier and better.

#2 – DO YOUR RESEARCH: As most of you know by now, I’m a big fan of market research. I firmly believe that it will help you to achieve many things you planned. Yes, it may sound trivial, but just Google anything you are curious about.

Find out if someone is already doing what you have in mind. Are their actions successful and if not, what did they do wrong? It’s a mistake to think that your idea is totally unique.

Even if such an idea exists, try to identify the current drawback of this product or service. The goal is to improve the current market solution.

There are 3 good practices to quickly find out if customers need your product and would be willing to pay for it:

Talk to people face-to-face.
Conduct surveys.
Send cold emails.

Did this video give you some guidance on how you can quickly validate your startup idea? If so, just smash that like button below and keep an eye out for more content like this.

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0:00 Intro
0:39 Why 80% Of Businesses Fail?
0:58 What Is The Hardest Thing For A Startup?
1:14 First Step
1:47 Second Step
2:23 How To Find Out If Your Product Is Needed?
3:10 Key Takeaways

DISCLAIMER: The information contained on this YouTube Channel and the resources available for download/viewing through this YouTube Channel are for educational and informational purposes only. I am not a financial advisor. You (and only you) are responsible for the decisions that you make.
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