How can I make sure my business idea is good?
Edvinas Bernatavičius
0 replies
The most important validation, or proof, is that your product or service can be turned into a business.
This proves that you can show that:
1. You can make the MVP version of your product;
2. Customers will have to pay for it;
3. You can show that your product has a large enough customer base that you can reach them at a reasonable cost. This will allow you to grow your business;
4. You have a plan to lower your costs in the long run so that you can make money from it;
5. Your company has an asset that can be used to prevent a competitor with larger resources from copying it, expanding at a quicker rate, and eventually putting you out of business.
The goal should be to pull together as much of this as you can.
There are ways to do each of these things cheaply, but they often depend on your idea.
In fact, in the last ten years, many ideas have gotten funding after showing only the first three things, which has helped them a lot.
If you want to reach the first three, too, we made an All-in-one Kit for startup founders (https://unicamel.io/checklist-kit) that will help you find your product market fit and paying customers in 30 days.
If you need help and advice from our side, how to make it happen, you can register a call with one of our experts, who will help you to find the right way to validate your idea - > https://unicamel.io/ or https://smartsale.tech/product-bootcamp/
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