So, the day before I talked about the #1 reason why new businesses, #entrepreneurs & #startups fail.
No market need.
I shared 5 simple steps to validate your idea before even thinking of launching a business.
If you’ve missed it, here is your second chance.
🦌 Remember: first you validate your idea & if all good, then you validate your product.
🦌Today, I am sharing the steps for #productvalidation
1. build an #MVP
2. promote it & make real sales
3. #crowdfund to check if there is indeed demand
4. analyze your results for the first insights & metrics
5. seek partnerships
Once you do these steps & get positive results, then you are ready to launch your product & business and get into the #traction phase.
For more about traction ➡️ https://lnkd.in/dfRy6Wt
🦌 So, what about these product validation steps? What do you say?
A. I can’t distinguish with idea validation (puzzled)
B. it’s the right path
C. I don’t need them, I can have shortcuts (let me know how)