As someone who preaches and teaches the importance of idea validation, I’ve seen so many people disregard this when they are launching their business ideas into the world. Their approach is something like this:
No research. No validation. No anything.
And this is why the majority of ideas fail. They fail because of the lack of adequate validation and market research before launching into the world. I know that there is mixed information in the world where some say ”launch, and they will come, ” but this is false. No one is coming because no one knows you. They are looking for you to go to them. One of the main ways to find out what audience your idea benefits is to validate your idea. Idea Validation is the process in which you take your idea through to determine if it is needed in the marketplace. There are several steps involved in this process and even missing one is crucial. That's why idea validation is so important.
Here are 3 reasons validating your business ideas are important:
One: It eliminates the use of wasted time and resources
Imagine spending all your time and money on an idea that has little to no merit because the marketplace doesn’t see a need for it? Idea Validation can eliminate the use of those wasted resources and help you focus on what matters. You can use the right resources and be productive and better manage your time by focusing on the right things.
Two: It saves your business idea from failing...hard
When a business idea fails, it sucks big time, but when you can prevent it from failing hard, that counts. Idea Validation takes the guesswork out of if it will or will not work. It helps you from falling flat on your face. Now, it may not stop you from failing (depends on your execution, marketing and other factors beyond this step) but it will identify much-needed factors that will determine if your idea is right to pursue further.
Three: It helps you identify your target market
Now, this is a huge reason why Idea Validation is essential. Identifying and knowing your target market is vital to your business idea. How would you see who likes, need and benefits from what your idea has to offer? Idea Validation will help you research to determine what you need to know to make sure you are creating offers and content that will cater to your target market’s needs.
This process is a vital part of building a sustainable business. This process will help you eliminate crucial mistakes and foundation repairs later in your business life when you do this first.
Now, that you learned how vital idea validation is to your business idea, what are you waiting for?
Let me know in the comments if you ever conducted the idea validation process on your business idea. If you have or have not, tell me why?