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:
- Clearly define your Target Customers
- Document your understanding of Their Pain
- 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”.