One of the biggest mistakes newbies make is spending time/money to turn an idea into reality BEFORE they've even validated it will actually work.
Learning how to validate ideas fast was one of the best things I ever did.
In this thread, I share what I've learned...
Learning how to validate ideas fast was one of the best things I ever did.
In this thread, I share what I've learned...
Validating an idea means figuring out whether or not it will actually work before taking the time to actually build everything out.
It's important to know how to validate because it prevents you from wasting time on low ROI shit that doesn't produce results.
Being able to validate ideas fast is what separates entrepreneurs from "wantrepreneurs."
Being able to validate ideas fast is what separates entrepreneurs from "wantrepreneurs."
To validate an idea, you must prove that people are ready, willing, and able to give you money for whatever it is you're selling. Basically, validating is doing the marketing first, before you build the business behind it.
For example:
You want to build an ecom brand selling sunglasses, watches, accessories. But you're not yet sure if it will work. So instead of contacting suppliers, getting samples, and spending a bunch of $$ on inventory, you do the marketing first.
You want to build an ecom brand selling sunglasses, watches, accessories. But you're not yet sure if it will work. So instead of contacting suppliers, getting samples, and spending a bunch of $$ on inventory, you do the marketing first.
You get a Shopify store up, list the products you want to sell, and start running ads ASAP. If no one buys, no worries, you barely wasted any time or money. If people do buy, great, you've validated your idea.
Just refund them (since you don't actually have the product) or dropship it from AliExpress.
Another example:
You have a personal brand and want to sell a new product. Instead of creating it and then selling it, sell it first. Create all the marketing, sell the product, and tell people they'll receive it on X date (so you have enough time to create it).
You have a personal brand and want to sell a new product. Instead of creating it and then selling it, sell it first. Create all the marketing, sell the product, and tell people they'll receive it on X date (so you have enough time to create it).
Get the jist?
Validating = selling first, creating rest of biz later
Validating = selling first, creating rest of biz later
Understanding this was one of the core concepts that unfucked my mindset from wantrepreneur to entrepreneur. Hopefully it does the same for some of you.
As always, this is the kind of stuff I talk about on my daily email list.
Sign up here if that's something you're interested in --> nateschmidt.io
Sign up here if that's something you're interested in --> nateschmidt.io
