Validating Your Business Ideas Before You Execute Them

Yabba Dabba Do and happy Friday to you, my  Community comrades! I am so sorry I have not been able to get the Flintstones out of my head after seeing a meme about it and can't stop saying the famous phrase. Moving right along... Quick question though, do you have insecurities validating your business ideas before you execute them? I most certainly have! During conversations with friends, there would be times where I would communicate my ideas but rarely act on them. Today, I found a gem from Medium on how to validate them. Let's see what they had to say.

Check if there is an existing market.
The author states, "If nobody else is offering the product/service you're thinking about, it's probably not a profitable idea. I was taken back for a minute and thought that this author might be delusional, but I could relate to this statement as he breaks it down. He mentioned some reasons this idea hasn't been brought forward to the mainstream. It could be a situation where other entrepreneurs may have tried it before but failed to do, or the idea cant generate profit. He addresses how a business can be a success if there is existing demand and that the idea you have can help solve day-to-day problems. Social media can be deceiving when you observe many potential customers sharing types of product suggestions. Let's say you jump in on the action, and now you are stagnant in your business. The author's point is to attain a product or service that consumers would need and want, and you can use the example of an existing market of paying customers as a guide. 

Soundboard your idea with entrepreneurs.
A sounding board means a person or group whose reactions to suggested ideas are used as a test of their validity or likely success before they are made public per the writer. Having like-minded individuals to express your thoughts or get feedback is genuinely something that can be very advantageous. These entrepreneurs have experienced problems and can give you advice, tips, or things to avoid, basically like a community. If you are looking for a platform like this, the QuickBooks Community is an excellent resource to seek advice and talk about your business.

Create a landing page and get signups.
You can use this as a test to see how many people sign up for your service. Simply display your product and service in a way that would attract customers. If you can get more than 10% visitors for the waiting list, continue with your vision. Another suggestion the writer mentioned is getting an email provider to note your waitlist customer, making it manageable to control.

Launch an MVP.
The author pushes to be a go-getter and not sit around, waiting to launch your product. Once you compiled a list of new customers, work on the customer experience. Things like the page taking too long to load can deter a buyer. He reiterates to be minimalist yet professional.


Do you believe tips can indeed help you validate your business ideas before you execute them? Or may you have some suggestions to add? Either way, encourage you to share your thoughts below. I would love to read them! Until then, continue to be well and be safe, my Community friends.