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How to validate a business idea quickly and efficiently? (alien.top)

submitted 1 year ago by timothy-102@alien.top to c/entrepreneur@indiehackers.space

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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."

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[–] timothy-102@alien.top 1 points 1 year ago (1 children)

Okay, that's good. But how would you know when you're getting good feedback? I think a lot of 1st-time founders have problems here.

[–] porsukbey@alien.top 1 points 1 year ago

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?"