How do I validate the business idea and get specific strategy before getting into investing in materials and starting?


Validating your business idea before investing in materials and execution is crucial. Consider creating a landing page to showcase your concept and gather interest. Use social media and online ads to drive traffic. Collect email sign-ups or measure click-through rates to gauge interest. Conduct surveys or interviews to gather feedback and refine your strategy before moving forward. With my expertise in Design Thinking and passion for delivering actionable strategies, we'll turn your vision into a strategic reality. Let's innovate your success together!

Answered a month ago

Hi, I have 32 years of business experience in different markets and I hold a degree in Sociology because every business deals with people ;) I would suggest creating some sort of test group where you expose your ideal clients to your product or service, and have them complete a detailed survey. You can do this relatively cheaply at public markets or hosting a party-like event. You may be able to generate a small amount of sales to cover the cost of putting together the event. Tip: getting completed surveys are key. Offer a drawing or prize where the winner is chosen from completed surveys. Hope this helps! Happy to discuss further.

Answered 2 months ago

To validate a business idea and create a specific strategy, I'll start by conducting thorough market research to understand my target audience's needs. For instance, if I'm considering a subscription box service for eco-friendly products, I'll research consumer preferences for sustainable goods and competitors in the market. Next, I'll develop a simple Minimum Viable Product (MVP), perhaps featuring a curated set of eco-friendly items, and gather feedback from a small group of potential customers. Based on their input, I'll refine the product offering and iterate as needed. Alongside, I'll outline a clear business model focusing on subscription pricing and calculate basic financial projections to ensure profitability. Finally, I'll plan a pilot launch to test the concept on a small scale, utilising social media and targeted online ads for initial customer acquisition. This step-by-step approach will help me validate demand, fine-tune the offering, and establish a strategic foundation before committing to larger investments in materials and full-scale operations. Hope this helps - but more than happy to chat further as I've been through this cycle more than 4 times with a successful exit. No written rule, but always great to learn from experience and iterate fast.

Answered a month ago

The first thing you want to do is to market yourself. Don't be afraid to step out and introduce what you have to offer. Display your products in full Glory so that you may attract the attention of people that wants your products and services. Once people can count on what you have to offer then you start building around that starting point. And this is where the investment comes in because you're starting to build an infrastructure around your idea because your idea made that person or consumer comfortable enough to return. Now professional service will carry you a long way because word of mouth will give you a big lift off with other consumers. The more you build your infrastructure making it attractive with stability your business will sore.

Answered 6 days ago

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