Hey everyone, my name is Tim, and I’ve worked on 2 businesses so far. I get a lot of questions from younger founders as to how they can validate their business idea better and quicker, and I think this topic needs to better addressed. I’ve been talking to some 15 founders recently, and here are my learnings:
- Kristan from Gymify mentioned that he had severe problems finding communities of people and getting proper responses from them, and he had to close the business.
- A SaaS agency from Singapore mentioned that they problem defining qualitative data to validate a business proposal, that’s why their CAC was cracking.
I am still collecting insights from people who have trouble with validating their business. Please comment below or send me a DM. I’ll keep this post updated with any new piece of insight I can find.
Thank you, everyone, for being part of such a helpful community."
People should focus on “the metric” they consider as a win.
It may be a ;
- “click” on “newsletter email” drop. (if you start collecting emails it would also help you after launching the real product)
- “click” on a “Buy Now” button.
- “click” on an “affiliate link”.
- “time spent” on the article.
- “filling the form” on sign up page.
etc.
Adding those kinds of analytics events would help you to get a general idea.
“You get X number of Y events from Z number of visitors. Is this good enough for us to continue?”