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Validating your ideas before launching them
December 11, 2019
It’s pretty common to see business owners launching something new without checking whether anyone actually WANTS what they’re launching. Validating your ideas can save you a lot of money and heartache. In this blog, I’m looking at how you can validate your ideas before launching anything.
Validating your idea for a new product, business or podcast
Something I’ve wanted to talk about for a while now is validating your ideas in your business – whether this is an idea for a new product, a new podcast or an entirely new business altogether.
It’s pretty common to see business owners launching something new without checking whether anyone actually WANTS what they’re launching. And, if you’re launching a product, there’s also a difference between someone wanting what you’re launching and them actually being willing to pay for it.
It can be easy to assume that because you like your idea, that everyone else will too, and this isn’t always the case.
This is where validating your ideas before launching comes into play.
What does it mean to validate an idea?
Validating your idea means sitting down with someone who is like your ideal customer or client and interviewing them to find out whether your idea has legs. That is, whether it solves a problem for them, whether it’s something they actually need or want and whether it’s something they would pay for.
Validating your idea does NOT mean asking your 5 closest friends what they think of it, because they’re most likely not your ideal customer or client, so while their opinions might be nice, you shouldn’t let these be the deciding factor.
Why do you need to validate your ideas?
In short: It can save you a lot of money and a lot of heartache.
You might discover that nobody is willing to pay for the product you’re launching, in which case you’ve saved yourself a ton of money in actually creating and marketing a dud product.
Or, you might discover that your ideal customer or client has a completely different problem to what you originally thought, in which case you might need to change tack slightly.
Validating your idea is so important. You could throw a ridiculous amount of marketing budget at a product, but if nobody wants to buy it, well, you’re wasting your money!
I made the mistake…
With my first business, I launched a product that I thought there was a market for simply because it was something I wanted.
I had customers, but it never quite got traction – and I think a big part of this is because I never sat down and spoke with my customers. I didn’t know what problem it was solving for them and I didn’t know WHY they would buy it, which made it really hard to write convincing sales copy.
Some ways to validate your business ideas
The most powerful way to validate your idea is to get someone like your ideal customer or client on a phone call or sit down with them for a coffee, and chat. Ask them questions, and keep asking more questions until you get to the heart of their answers.
I know that it sounds scary – the thought of actually talking to your customers and clients, but trust me – the answers you get will be a million times more valuable than if you were to send out a survey instead.
Just asking people on social media whether they like the idea or not isn’t really enough to validate it, unless you’re launching something free – like a podcast or a free ebook.