How do you validate your business idea?

I think a business idea is validated if it solves a real problem and people are willing to pay for it. I like to ask myself these simple questions to stay on track: - Does this idea solve an actual problem? - Are there people out there who have this problem? - Would they pay to solve it? If the answers are yes, then it’s a great start.

Try and sell it

There's a booked called 'The Mom Test' by Rob Fitzpatrick which helps so much with this. I'd highly recommend it. But testing your idea early so important.

I'd start with an email waitlist page, and if it gets enough signups, create an MVP and go from there.

Yeah for sure, validating that your idea solves a real problem for a group of people willing to pay is key. I also like to put together a simple proof of concept or MVP and get it in front of some potential customers ASAP to gauge interest and get early feedback. There's nothing like real-world data and conversations with users to pressure test your assumptions. Keep it lean and don't invest too much until you have some strong validation signals.

For me, build a MVP and gather feedback from beta users

To validate a business idea, I focus on building a simple MVP (Minimum Viable Product). The goal is to create just enough functionality to showcase the core value of the idea. Once it’s ready, I test it with a small group of early adopters to gather feedback and see if it resonates with them. This stage is crucial because it reveals if the idea solves a real problem and if people are willing to use or pay for it. Based on their feedback, I refine the product and decide whether to pivot, improve, or scale. It’s all about learning quickly and iterating smartly! Great book I can highly recommend for this topic is "The Lean Startup".

research your target market, gather customer feedback, analyze competitors, create a minimum viable product, iterate based on user input, and evaluate financial viability.

It is easy building a MVP these days. So just build it and gather feedback to validate.

For me, it's about building a simple prototype and seeing if people are willing to pay for it or show interest.

Validating comes down to testing ideas quickly with a small group and adapting based on their feedback.

My co-founder and I are validating our product by reaching out to potential customers and pitching the product as if it was already out there. This way, we're getting feedback from customers right away and can change direction if the product isn't getting the traction we want. Worst case, they hate the product and we can pivot before we get too deep into development. Best case, they LOVE it and we have potential customers ready to go at launch. Seems like a win-win to me.