Before sinking time or cash into a new idea, confirm that customers actually want it.
Avoid the fate of many failed startups:
Investopedia notes that roughly 35% fail due to lack of market need. In other - words, solving a real problem is essential. Validation means testing your assumptions about the market and customers early.
Identify the problem. Research if the pain point exists. Read forums, use Google Trends, or run surveys.
Make sure you understand customers’ frustrations.
As one expert puts it:
the first step is to “make sure the problem exists.” Talk to target users. Conduct interviews or polls with potential customers. Ask them how they currently solve the problem and what they dislike about those solutions.
According to one guide, “Turn strangers into customers by asking them” about their needs. This gives insights into demand and product fit. Build a quick prototype or landing page.
Even a non-functional mock-up can gauge interest. For instance, create a simple landing page describing your solution and measure sign-ups or pre-orders.
Geek out:
pre-selling a product or running a crowdfunding test is a form of MVP .
This approach is highlighted by experts:
“build a prototype to encourage pre-orders”. Analyze competitors. Use SEO tools (Ahrefs, SEMrush) to see if people search for solutions.
Scan existing offerings for gaps you can fill. NerdWallet suggests thorough competitive research as part of validation. Seek feedback from mentors and advisors.
Talk to experienced entrepreneurs or industry experts. They can spot flaws or opportunities you might miss.
One startup mentor advises:
“Consider the advice of someone who’s been there… apply at least some of their advice”. Throughout, use agile experimentation. For example, A/B test different product ideas on social media , or launch a smoke test ad campaign.
Monitor metrics closely. “Validate your idea by interviewing target customers, testing prototypes, and analyzing competitors,” summarizes the Investopedia takeaways. Tip: Stay flexible.
If feedback is weak or markets are small, pivot your idea or target market early. Strong founders keep an open mind. Eric Ries’ Lean Startup method encourages a “build-measure-learn” cycle, so treat validation as a learning phase, not a sunk cost.
In summary, don’t invest heavily until evidence shows customers care. Vet your idea with real people and simple tests. This way, you save time and money and increase chances that “when you finally scale,” you do it on a solid foundation, not on wishful thinking.