Testing your Startup’s New Business Idea

[ Blackboard Fridays Ep. 25 ]
by Jacob Aldridge Published

This is a question I wish more new businesses and startups would ask: do I actually have a good idea?

Because all too often I see businesses fail because they built a solution in search of a problem, and when their Product didn't fit the Market ... they blamed the Market instead of taking responsibility.

Testing your startup's new business idea is simple, but not necessarily easy. You need to commit to these 3 steps ... and truly listen to the response:

1) Clearly define your Target Customers

2) Document your understanding of Their Pain

3) Go and interview at least 10 (and preferably more) of these target clients and ask them whether they believe you have a good business idea.

You'll get 3 possible responses to that question. And you might be surprised to learn that the worst possible response is "Yes, that's a great idea".

Enjoy this week's Blackboard Fridays video:


Take 5 minutes each week to focus on your business instead of dealing with the demands of working in it.

Blackboard Fridays

Jacob Aldridge
read more by Jacob Aldridge

Over the past 12 years, more than 300 active growth businesses in Australia, the UK, and Asia-Pacific have worked with Jacob in his role as an international business coach, partner and advisor.

As Director of Advisory at businessDEPOT, Jacob continues to work one-on-one with SME businesses and directors, while also leading the development of our Strategic Advisory services across Workshops, Group Programs, and Online business guidance.

Jacob's alumni clients and those who have attended his presentations describe him as the smart and quirky business guy who makes genuine change happen. He brings business experience that impacts both profit and valuation, plus a unique energy borne from the belief that business is best when it's fun.

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