My most important lesson as an entrepreneur was how to invalidate ideas quickly without spending thousands of dollars.
Let’s face it – your idea is probably shit. I mean, it might not be, I hope you prove me wrong.
I've been through 7 ideas in almost 3 months and invalidated each one. But I did it in about 2 weeks and with $0.
I have invalidated ideas in a couple of days.
But… I learned this the hard way. When I began my entrepreneurial journey, I got so wrapped up in the “perfect idea” that I only looked at the good stuff and focused on building the “business” instead of validating it.
This is what I did with my first business and I ended up wasting over a year and spent a lot of money.
The more time spent going on good “dates” with an idea, the more you’ll fall in love. Validation has to be harsh and quick. If it passes the test, great; that’s one of many.
Let’s jump into exactly how to validate your idea in quickly with $0.
If after reading this you still feel overwhelmed, feel free to DM me as I love helping people take their ideas from their notes app into reality.
Step 1: Forget the idea, focus on a problem.
If you lead with an idea it means you believe you have the answer to a specific problem. But what if what you think is a problem isn’t one at all? Or what if there is a better way to solve it?
Take a step back and figure out exactly what the core problem you are solving is and go from there.
So now, instead of asking “How do I validate my idea quickly with $0” you should be asking “What problem is my idea solving and does it really exist?”.
Step 2: Lay out your ideal customer profile (ICP).
What would someone who experiences this problem look like? If you are solving this problem out of a personal need, then do some self-reflection to figure out what type of person you are. If not, it will take a little more thought and digging.
Step 3: Build an assumption matrix + questions list.
You want to treat this phase like a scientific experiment. You are looking to disprove all assumptions you have. Remember, good scientists are always looking to disprove theories, not only find confirming evidence.
An assumption is anything that you need to be true for your business to be successful.
Assumption #1 will always be that the problem you are looking to solve is actually a problem. Another is that the solutions that are already out there are not sufficient. Continue this process and make sure to list as many as possible, no matter how obvious.
An assumption matrix is a simple x/y axis graph with evidence ←→ no evidence on the x axis, and not important ←→ important on the y axis.
Start plotting each assumption where you feel it best fits. At the end you should have some assumptions in the top left corner: the important + no evidence box. These are the assumptions that you have determined are important to your businesses existence and you have little to no evidence that they are true.
List these assumptions out. Start to write down questions you could ask to your ICP to start getting data on these assumptions. This part can take a while and you will have to get creative.
Step 4: Start reaching out to your ICP.
Before building a landing page, thinking of a cool name, telling your friend, or posting about it, just take a deep breath and hold yourself back. The very first thing you need to do is talk to your ideal customers.
LinkedIn will be your best friend here. Craft a message and start connecting with people, adding the message in a personalized note.
Make sure the message outlines that you are looking to learn more about [whatever your problem or space is] and based on their experience you feel the insights they can provide you would be invaluable. Ask if they are open to chatting for 15 minutes.
We’ve been able to speak to upwards of 20 people in a week with that simple message. People love to teach and talk about what they know (and about themselves). Have the mindset of a student looking to learn (and if you are actually a student, leverage that in the message).
Step 5: Meeting time.
You should have multiple calls booked with your ICP at this point. You really don’t need more than 10-20 calls to get the answers you need.
If you want to know how to validate your idea quickly with $0, well this is how. Set up meetings.
Some tips for the calls:
Use storytelling to break down barriers, let them go on tangents, and ask for referrals at the end.
DM me for a free customized LinkedIn outreach message for your idea and ICP.
Step 6: Constant analysis and review.
Make sure to constantly review the notes from a call. Do this after every 3-5 calls. If you see a specific trend forming, get enough data to validate or invalidate an assumption, or see new topics popping up, etc, this means it is time to change/remove/add questions.
At this point you have successfully gone from asking how to validate your idea quickly with $0, to IF your idea is validated (and it will be quickly and you should have spent $0 up to this point).
Step 7: Are you learning anything new?
Once you end a call, maybe it is your 9th or your 35th, and you say to yourself “I didn’t learn anything new from that call”, well it may be time to move onto the next phase.
Step 8: Ideation.
Congrats! You have learned the first half of how to validate (or invalidate) your idea quickly and with $0. This is where I will stop for today (lots of typing).
The next part differs so much depending on the business. But, you will want to start by finding a Minimum Viable Product (MVP) that will allow you to put your assumptions and data to the test and validate what should be now your #1 assumption: will people pay to solve this problem?
If you want a custom plan built for you DM me or visit my site to see what I can do to help you!
Let’s face it – your idea is probably shit. I mean, it might not be, I hope you prove me wrong.
I've been through 7 ideas in almost 3 months and invalidated each one. But I did it in about 2 weeks and with $0.
I have invalidated ideas in a couple of days.
But… I learned this the hard way. When I began my entrepreneurial journey, I got so wrapped up in the “perfect idea” that I only looked at the good stuff and focused on building the “business” instead of validating it.
This is what I did with my first business and I ended up wasting over a year and spent a lot of money.
The more time spent going on good “dates” with an idea, the more you’ll fall in love. Validation has to be harsh and quick. If it passes the test, great; that’s one of many.
Let’s jump into exactly how to validate your idea in quickly with $0.
If after reading this you still feel overwhelmed, feel free to DM me as I love helping people take their ideas from their notes app into reality.
Step 1: Forget the idea, focus on a problem.
If you lead with an idea it means you believe you have the answer to a specific problem. But what if what you think is a problem isn’t one at all? Or what if there is a better way to solve it?
Take a step back and figure out exactly what the core problem you are solving is and go from there.
So now, instead of asking “How do I validate my idea quickly with $0” you should be asking “What problem is my idea solving and does it really exist?”.
Step 2: Lay out your ideal customer profile (ICP).
What would someone who experiences this problem look like? If you are solving this problem out of a personal need, then do some self-reflection to figure out what type of person you are. If not, it will take a little more thought and digging.
Step 3: Build an assumption matrix + questions list.
You want to treat this phase like a scientific experiment. You are looking to disprove all assumptions you have. Remember, good scientists are always looking to disprove theories, not only find confirming evidence.
An assumption is anything that you need to be true for your business to be successful.
Assumption #1 will always be that the problem you are looking to solve is actually a problem. Another is that the solutions that are already out there are not sufficient. Continue this process and make sure to list as many as possible, no matter how obvious.
An assumption matrix is a simple x/y axis graph with evidence ←→ no evidence on the x axis, and not important ←→ important on the y axis.
Start plotting each assumption where you feel it best fits. At the end you should have some assumptions in the top left corner: the important + no evidence box. These are the assumptions that you have determined are important to your businesses existence and you have little to no evidence that they are true.
List these assumptions out. Start to write down questions you could ask to your ICP to start getting data on these assumptions. This part can take a while and you will have to get creative.
Step 4: Start reaching out to your ICP.
Before building a landing page, thinking of a cool name, telling your friend, or posting about it, just take a deep breath and hold yourself back. The very first thing you need to do is talk to your ideal customers.
LinkedIn will be your best friend here. Craft a message and start connecting with people, adding the message in a personalized note.
Make sure the message outlines that you are looking to learn more about [whatever your problem or space is] and based on their experience you feel the insights they can provide you would be invaluable. Ask if they are open to chatting for 15 minutes.
We’ve been able to speak to upwards of 20 people in a week with that simple message. People love to teach and talk about what they know (and about themselves). Have the mindset of a student looking to learn (and if you are actually a student, leverage that in the message).
Step 5: Meeting time.
You should have multiple calls booked with your ICP at this point. You really don’t need more than 10-20 calls to get the answers you need.
If you want to know how to validate your idea quickly with $0, well this is how. Set up meetings.
Some tips for the calls:
Use storytelling to break down barriers, let them go on tangents, and ask for referrals at the end.
DM me for a free customized LinkedIn outreach message for your idea and ICP.
Step 6: Constant analysis and review.
Make sure to constantly review the notes from a call. Do this after every 3-5 calls. If you see a specific trend forming, get enough data to validate or invalidate an assumption, or see new topics popping up, etc, this means it is time to change/remove/add questions.
At this point you have successfully gone from asking how to validate your idea quickly with $0, to IF your idea is validated (and it will be quickly and you should have spent $0 up to this point).
Step 7: Are you learning anything new?
Once you end a call, maybe it is your 9th or your 35th, and you say to yourself “I didn’t learn anything new from that call”, well it may be time to move onto the next phase.
Step 8: Ideation.
Congrats! You have learned the first half of how to validate (or invalidate) your idea quickly and with $0. This is where I will stop for today (lots of typing).
The next part differs so much depending on the business. But, you will want to start by finding a Minimum Viable Product (MVP) that will allow you to put your assumptions and data to the test and validate what should be now your #1 assumption: will people pay to solve this problem?
If you want a custom plan built for you DM me or visit my site to see what I can do to help you!
