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Are you wondering how to validate a business idea?
Like some of the best entrepreneurs in the world, your challenge probably isn’t a lack of new ideas, it’s figuring out which ideas are worth spending your time and money on.
No matter who you are or how big you hope to grow your business, figuring out what product to build and what services to offer is a huge challenge.
Starting a business takes a huge leap of faith. Given that you could be doing many, many things with your time, how do you decide what to do and what’s really a great idea?
Business idea validation is the process of testing whether or not your idea for a business is worth pursuing. Our free business idea validation checklist can help you figure out if you actually have a good idea for a business, or if you need to go back to the drawing board.
With 20 tasks, the checklist will help validate your startup idea by showing you how to run it through four key phases of business idea validation:
This approach to figuring out if you have a good business idea means starting much smaller than you might have originally thought. But, by taking a thoughtful approach, you should be able to get key answers much faster than doing too much too soon.
It also means that you don’t sit behind your desk building a business plan without getting out and actually talking to your customers.
Starting with just the fundamentals and verifying that your idea is good before moving on to the next step is a core component of lean planning. Plus, it will give you a greater chance of success once you are confident that your business idea is worth pursuing.
Do you want to start a business, but need help coming up with new business ideas? We have a lot of great resources to help you with brainstorming new ideas, business idea validation, and starting a successful small business.
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