Haven't heard of the term 'early market validation'? This is something that is often forgotten about and can lead do losses if not done.
Let's a paint this picture:
You have an idea for a new side hustle you've been thinking a lot about. You're ready to dive right in and invest your hard earned money into something new and exciting. You pull the trigger on this new thing, buy some tools, materials, or whatever it is you need to get this hustle going. You put your time in, you put your money in, you market this new endeavor, and finally you launch.
Some days come and go with no activity, those days turn to weeks, and so on. Maybe you aren't as successful as you thought this awesome idea would be.
How could you have found this out earlier?
People used to say, 'If you build it, they will come.' This simply isn't how the world works anymore.
The new way of thinking is with 'early market validation.' Meaning this.... feel out the market by putting your product or service out there before going 'all in' to see how the market reacts.
If the market responds well, dive in and get started!
If the market doesn't respond well, ask for feedback, adjust, and do it again until you get the results you're looking for.
Have the market validate your idea for you rather than trying to guess what the market wants.
Let's a paint this picture:
You have an idea for a new side hustle you've been thinking a lot about. You're ready to dive right in and invest your hard earned money into something new and exciting. You pull the trigger on this new thing, buy some tools, materials, or whatever it is you need to get this hustle going. You put your time in, you put your money in, you market this new endeavor, and finally you launch.
Some days come and go with no activity, those days turn to weeks, and so on. Maybe you aren't as successful as you thought this awesome idea would be.
How could you have found this out earlier?
People used to say, 'If you build it, they will come.' This simply isn't how the world works anymore.
The new way of thinking is with 'early market validation.' Meaning this.... feel out the market by putting your product or service out there before going 'all in' to see how the market reacts.
If the market responds well, dive in and get started!
If the market doesn't respond well, ask for feedback, adjust, and do it again until you get the results you're looking for.
Have the market validate your idea for you rather than trying to guess what the market wants.