My goal here is to share an approach I recommend if you're looking to quickly validate demand and viability for a product.
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Let me answer some questions first:
Is it foolproof?
-> No
What if I need more than 24 hours to do the steps?
-> That's OK. But if you need more than a couple weeks you may have a problem.
Will I validate demand with this method?
-> No. You will most likely invalidate demand. But at least you'll move on more quickly.
Alright, now that this is out of the way, let's begin!
//
7 steps to validate demand for your product idea in 24 hours
Step #1 - forget your product idea - 0 minutes
I'm being very serious here. Unless you came up with that idea in a smart way initially (see step 2 and 3), I suggest you forget about it. That's the quickest way to get rid of bad ideas and not even have to go through the "demand validation" step. If you're not ready for that, skip steps 2 and 3 and move on to #4.
Step #2 - define a target market - 30 minutes
In my opinion the best way to get a good idea is to go into "hackathon" mode. I've participated in a couple of those, and it always starts with an audience and a problem they face.
So this is where I start as well.
I try to find a target market I can identify with, most likely one that has similar traits as me and that I'm more likely to understand well. I feel this helps me come up with more solid ideas, but it's fine if you'd rather address a niche you know nothing about.
I have friends who started out just wanting to solve a problem for seniors ("the Silver Economy" as people like to call it). That's it. They ended up building one of the most successful startups I was able to watch grow from up close.
Something that will help with Step #3 (below) is if you pick a target audience that you are able to contact easily. This will make it far easier to collect insights, feedback, and make sales.
Anyway, pick a niche.
Step #3 - Find a problem and imagine a solution - 2 hours
Depending on the niche you picked, this can take anywhere between 5 minutes and 5 months.
This is why picking a target audience you understand and can reach out to easily is important.
But if you're into "idea validation hackathon mode", there's plenty of places online where you can collect insights and identify a problem in less than half a day's work.
Here's a few:
There's also places in real life. Don't forget about them. But if you're dead set on not spending more than 2 hours on this, online is your best bet.
Once you picked a problem, imagine a solution which you're likely to be able to build without 5 years of development or a dev team by your side.
Step #4 - Define a success metric - 30 minutes
This is so important and yet people often forget about this step.
How will you know if you validated demand for your product?
What's the metric? And what's the expected volume for that metric?
Are emails enough? Free users? Payments?
And how many should you get? 1? 5? 100?
Hard question, but don't skip it.
Personally, I consider I need at least 1 stranger to pay actual USD$ for my product before it's even released.
If I can make that happen, I know there's demand, and I know I can sell it.
Step #5 - Landing page + Payment form - 2 hours
Design matters. Of course.
But not when you're trying to prove demand in 24 hours.
Here's my go-to method to build a landing page that validates demand fast:
Pro tip: you can even ask "How much you'd pay for that?" early in the Typeform and insert that number as the Stripe amount at the end.
That's IT! You should be able to get away with that in a couple hours. If you're good, maybe you can even do something a bit better with Webflow or some other more advanced tool.
Note: this is good if your main metric for success is getting payments. I recommend that. But if for whatever reason you want to validate demand with emails or something else, feel free to not put a payment link.
Step 6 - Find some clients - 4 hours
So now you have to find some customers, or at the very least people willing to leave you their email or something. Not to get some freebie resource, but because they're genuinely interested in your product.
Here's a few places where you can do that:
Indie Hackers (if you're audience is here)
Twitter DMs (find competitor, reach out to people who like their tweets)
Find a competitor, email/tweet their users (use testimonial sections, google "CompetitorName" -site:competitor.com + "powered by"" or something similar)
Google Ads (there's a bunch of $50-$75 coupons out there)
Have at it for 4 hours. Give it all you can. No it's not embarrassing. It's admirable. You're a maker aiming to sell your product before it's even built, that's bad*ss.
You might get ignored a lot, perhaps criticized sometimes. That's fine. What you're aiming for isn't to be liked, it's to make a sale (or collect a bunch of emails, depending)!
#Step 7 - Analyse feedback - 1 hour
Once you're done with your sales efforts, go and watch the numbers.
Did you reach the success metric you set yourself out to get?
If yes, then you may have just found an awesome product idea to build. Next steps are making sure you're able to build it and be sure you want to work on this for the next few months at least.
If not, it's not all bad.
You possibly just avoided a huge mistake, setting yourself up to work for weeks or months on a product you're not able to sell. So many people fall into that trap, myself included (and not just once).
You probably learned a lot about a specific audience, and every niche has multiple problems they want to solve.
You can write down the pros and cons of the experience, and what you'll change next time you do it.
Also, the results could be somewhere in the middle between a catastrophy and total success. If that's the case, there's one part of the product-founder fit equation that isn't fitting right. Either the idea isn't that good, or your sales skills for that idea aren't adapted.
Either way, there may be demand for the product, but there's also probably some adjustments to make on the product or a co-founder to fetch.
//
Recap:
All in all, that's 10 hours. An honest day's work.
Of course you can do it in 5 hours or 5 days. It doesn't really matter. You can divide up the steps differently, or even maybe dedicate one full day to each?
This is not "Tom's rigid method you should apply no matter what", far from it. Hopefully it'll inspire some makers out there to give it a try and make their own adjustments!
I will say that this method works well to identify high-potential ideas. Ideas that you don't get that often and that have a high chance of success. It will most likely condemn "average" ideas that have a chance but require a lot of work or luck.
In any case, if this can prevent even just one maker from working 6 months on an unsellable product, then this post is a great success!
And if you have other methods you want to recommend, or questions you want to ask, feel free ๐
PS: if you wanna be friends on Twitter, here's my profile
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Edit: looking for another complementary take on pre-selling your SaaS? This article by @chddaniel is a pretty good resource: https://www.simple.ink/blog/how-to-presell-saas
What I need help understanding - is how do you propose customers to use and pay for a platform or app without showing them what it looks like?
How exactly am I supposed to convince them with an AIDA funnel on a single page carrd site if I don't know the product, I don't have screenshots or anything.
Hey! That's a fair question. And the answer is: yes, it's harder.
But, there's a few ways you can overcome that flaw:
go deep into the conversations with prospects so that they trust you
provide a very significant discount
come up with some quick UI's using common UI libraries and pretend this is gonna be the final product
forget actually collecting the payment, just make a button that says "buy now" and measure the CTR (less good, because many people stop their payment while entering their card details, but still a pretty decent indication if you give all the pricing info beforehand)
add some FOMO like limited seats, soon to expire discounts, etc.
I also really like this blog post by @chddaniel who pre-sold $1k worth of his SaaS before building it (to be fair, he did have a few advantages audience-wise but I'm not saying you should sell for $1k worth to validate demand): https://www.simple.ink/blog/how-to-presell-saas
Bless you thanks for mentioning the article ๐งก
Thanks for the post!
Have any thoughts on how to create an effective landing page? It seems like that the landing page needs to be somewhat compelling to get people to enter their info. Seem like it might be hard to make a compelling landing page without a demo, mockup, screenshots, or something.
What do you think?
You're right about this. If you want to increase your chances, it's nice to have a demo or even an MVP. It will definitely help boost the conversion rate.
That being said, if you can't do that:
I would steer away from those illustrations with weirdly-shaped characters that just about every designer is making now
I think Lottie Files (the website) has some pretty good animated illustrations you can use
Whimsical is a great, easy and free product to make a user flow. For some niches who are facing a very painful problem, just seeing this will be enough to convince them to take a chance on you.
Limit the number of available seats
Provide a once in a lifetime chance at a huge discount ($10 spent for a product that doesn't exist is probably just as much of a commitment as $500 spent for a product that does exist)
If you have good charisma on video (unlike me), maybe make something that looks pretty good with a sales pitch!
Top practical advice. Thanks for sharing Tom!
so you put only a value proposition on landing page if product doesn't exist? I am still don't understand what should landing page consist of if you have only a value proposition. Can you give us any example?
Hey Mateusz,
It will work a lot better if you can come up with mock-ups to showcase what you think the product will look like. I'm not gonna say the opposite. Just like with anything, the more you have going for you, the more likely you are to succeed.
Here's a couple examples of people who actually did that with mockups:
https://www.reddit.com/r/startups/comments/5v2ycs/how_we_presold_25_copies_of_our_saas_for_web/
https://briancasel.com/validating-a-saas-product-step-by-step/
If you're building a SaaS, adding this does sound like "not quite a pre-requisit but close". But to come up with something "decent", you probably just need to add an extra 4 hours to that work day, which makes it a bigger workday but nothing you can't deal with.
If you're not selling a SaaS however (think newsletters, databases, courses, etc.), it's easier to get away with not having any mock-ups and just a little bit of content.
Very informative. Thank you for sharing your thoughts.
Thanks Kareem!
Great advices. Thanks!
absolute gold thank you
I dislike implying I can take payment for something that isn't built yet. How can we get around that?
It's just my opinion but I don't think you can truly validate without someone actually committing to payment.
So if you're uncomfortable collecting or implying you're going to collect a payment for something that isn't built yet, I would suggest you build an MVP. Will make the process longer, but will fit your preference better.
Nice article!
Hey Thomas,
You've got so much love here so one lonely grumpy comment will not hurt you.
You are making a bold claim that is possible to sensibly validate an idea in 24h using a hair-on-fire approach. It would be nice if you could provide some baseline state or definition for such product ideas: all ideas, some ideas, simple vs complex... Also, do you have any real data based on your own experience such as, you used this method in 10 cases, based on the reception you eliminated 8 ideas and pursued 2 ideas of which 2 grew into something meaningful?
Hey Ark! Oh don't worry I've gotten that feedback in other comments as well ;)
Happy to answer, and I actually agree with your scepticism.
Just for context: this post originated as a comment I made on a post asking "how to validate demand in 24 hours". I was asked to write a long form version so I did.
I have however applied the general method in the past. And I did it with a very limited audience. I did that with an "NFT marketing course" (didn't make a sale, so never wrote it), and an "online community search engine" (made sales, delivered a MVP, got refund requests, and decided to not pursue because I wanted subscription-based and users wanted one-time payment + technically difficult to make a great product worth being subscribed to).
Did it take exactly 24 hours? For the NFT one yes, for the other one it was more like 48 hours.
I applied the same method with a twist (meaning a quick MVP that added approx. 4-5 days to the mix), and that did lead to Tweet Hunter which is the business I now run with my co-founder.
In any case, this is not a statistically correct sample size for sure.
Now, if the method doesn't lead to a sale (or reach the metric performance you've defined), of course that doesn't mean the idea is stupid and should be thrown away. Personally, I throw it away because I have too many ideas and don't want to take each of them through a long iteration loop until I figure out how to make them work. I prefer to focus on ideas that get that very very early traction, but that's just me.
But it's very likely an idea I throw away because of this method wasn't actually bad at all. I just built it / packaged it / sold it wrong probably.
Longer cycles can definitely be more adapted to:
Also I think one can apply a similar method, but as a way to make iterations instead of "throwing away / pursuing an idea".
So yeah, for sure this method is not foolproof, it's not for everyone, and it's not for every kind of idea. Not following it is probably just as fine as following it. If it fits you, great! If not, that's also great and there are other ways to move forward!
People tend to see those posts as "me telling you what you should do and if you don't do that you're wrong". I don't see it like that, I think it's perfectly fine to follow the advice, adjust it to your situation, or not follow it at all. There's always plenty of advice online, and it's rarely good advice for everyone.
hey, thanks,
I believe there is something superhuman in pursuing validation hair-on-fire, super focus, time disciplined way; and it is good to aim there...Best. A.
Hi Thomas,
I like your post. It is a good advice. I am not sure I connected with the timeline because it varies between abilities, people. Sometimes simple interviews with people in a mall will get your more info. Specifically regarding to how to pre-sell a demo, I have made a series of posts I maintain and improve overtime. You can see one here:
Producing the demo.
You can use a photoshop or any editing tool to make dashboards from images you find online and show it as bunch of slides on the landing page or a powerpoint slides on a zoom call. I do believe you have to be truthful if someone ask you directly if it is ready. You can say it is in process and we can add you to the beta list. The price once it is ready will be 1M$ :).
Cheers,
-Tzahi
Hey Tzahi, yes! Definitely a good idea to make some demo / mock-ups / little animations. For the timeline, it's definitely one should adjust to his/her own pace, preferences and idea.
As for asking people in a mall a series of questions, unless that's your target audience, I would avoid that. I've done the mistake of trying to validate things (ideas, UIs, etc.) with the wrong audience before, and wow did that hit hard when we released. For example, I was building a kids educational app and wanted to test designs. I went to a train station and asked families that were waiting for their train if their kids could tell me what they thought of the designs.
Why? Not sure, but maybe because they were all just bored and excited to have something distracting to do? Maybe they didn't actually use apps? Or maybe they just wanted to be nice.
So I had to build again and then it worked well for my target audience. But validating the designs was done more professionally, amongst kids who already used apps, with various options to pick from, and in a more appropriate setting (their home, where the app was meant to be used).
Definitely it is important to simulate the right setting. The last time we asked people in a mall was for a mobile trivia game so it was more appropriate. However, we used powerpoint slides for a cyber security saas for zoom meetings with companies. Thanks!
Hi Thomas, I liked your approach. I was looking for ideas on how to validate my idea and i found yours. Btw, i already built my landing page for my idea. Just basic info and email collecting form.
https://kidzzeo.com/ Would you mind taking a look at it and share your feedback? Thanks.
I think the landing page is fine. It'd be nice to add some "pretend mock-ups" just for it to feel like there is indeed a product in the works.
Now, I actually have made a kids educational app before. One thing I did very badly was the design because I was targeting kids age 6 to 10. You target even wider, 6 to 12. My advice would be to perhaps consider making that age range much narrower, because I learned the hard way that a 6 y/o may love a design ("so cool") that a 9 y/o will absolutely hate ("it's for babies"). If your app is really meant to be used by kids, watch out for that! Maybe have multiple designs for different age ranges, or just target kids aged 8 to 10.
Hey Tom. Thanks for the insight. We are mostly looking to have different interfaces for different age groups. Will definitely add the mockups you suggested. We are thinking your last option to test - to run some Google ads and the metric we intend to measure how many people actually clicked on the ad. Is there a better way to reach out to the parent audience? Finding them via TW might be too challenging and inaccurate?
Thanks for the fantastic writeup! For step #3, if I were to lurk in various communities (subreddits, specific forums) and found that a lot of people had the same issues, do you still recommend building a landing page? I assume that the problem I've identified is validated if multiple people post about it correct?
I would say you probably have identified a problem, but you haven't validated that your solution fixes it and that you have the skills to sell it. So I would still go a step further.
This is great! Really liked the way you structured the steps. Generally, building a solution to a problem is easy but I guess you need the courage to try and sell what you do.
I guess if you feel you are contributing to a problem solution and you believe you will add value for someoneโs flow it really worth a shot.
Yes that's one of the takeaways I wanted people to get about this. Over the past 10 years it's become actually easier and easier to build products and solutions. So it made selling them a lot more complicated because of fierce competition.
True @tomjacquesson but if you can find a niche to sort the issue this does not mean you need to compete. At least thats what I've been trying to do :) Have countless small projects thrown out of the window
Thanks for the tips! Once thing I've been struggling with is the "find some clients" part. If you've done all the work to identify a healthy potential client list and you speak with them, get feedback and then iterate, do you generally go back to the same people next time? Or build a new list? I worry there is a finite amount of people I can talk to and wonder if I need to space them out between iterations so I can incorporate feedback and keep moving forward. Thoughts, anyone?
Great question. Sometimes the pool of clients isn't that big.
I would definitely speak to them again at every iteration, but I would also attempt to find some "fresh new leads" who never heard of you before and see how it goes.
Unfortunately, as often with indie making, the answer is "both" ๐คฃ
Thomas!
Cool post. I enjoyed reading it. Most of it is solid but I took issue with the Find some clients section...
Do you really think 4 hours is enough time to get enough data that your sample size would be big enough to analyze?
I feel like this just isn't enough time to have enough meaningful conversations. Maybe if your hair is on fire, you can have 16 conversations (one every 15 minutes). How many of those will be high quality? 2-3 if you're lucky?
I think the time frame for this needs to be more like 10-20 hours spent. You need to have 10-15 meaningful conversations and enough time to "sell" 1-2 people (helpful for validation but not entirely necessary at this early stage).
Everything above is especially true if you don't already have an audience. If you already have an email list, Twitter following or network of industry folks, you can just call in a few personal favors and get feedback quickly. If not, you're going to be doing cold outreach to everybody which has notoriously low return rates (in most cases, probably for beginners haha).
I'd love to see you write another post: From idea to validation in 7 days
Each step with more time dedicated to it AND more intricate strategies and tactics to fill that time. IMO 24 hours isn't enough time but a month is too long; 7 days sounds like a happy medium to be able to determine the viability of a business idea and gather enough data to tell you if you do or don't want to give it a shot.
Validating Driftly (let me know if you want to chat about it for Tweet Hunter!) definitely took more than 24 hours and I already have an audience of people I can ask. Took time to do competitor research, interviews and to have enough of the conversations you mentioned above.
Boom!
Hey Joe!
First, happy to chat about Driftly, send me a DM on Twitter
Second, the more time you have for each and every phase the better, even more so the selling/marketing stage which for most founders should be at least 50% of their time.
But it's also important to set yourself a deadline to get things done. In this case, the original post I wrote a (very short) version of this piece for was about how to do it in 24 hours. So that's what I wrote about. But doing it in 48 hours, 72 hours, or 2 weeks doesn't sound like a bad option to me. 3 months? -> maybe you went too far.
That's my take!
And it's a good one! I know you mentioned at the beginning What if I need more than 24 hours to do the steps? That's OK. But if you need more than a couple weeks you may have a problem.
Incoming ๐ฌ
This is a really great methodology to quickly validate ideas. Just keep in mind it's not a zero-sum game. The possibility will still exist that when an idea/concept doesn't reach validation through this route, there is actually still consumer demand for it. For example, two ideas might be the same but the execution might differ. One might fail and one might succeed. I recommend this method as an indicator, but not as a foolproof way of getting proof of concept. Before retiring an idea, try to see if there are iterations you can apply that might find an easier product-market fit. I also urge people to think about the high demand for quality that currently exists. Branding, design, and marketing have been proven to make not-so-desirable products become highly desirable. Act holistically, think big and as OP has demonstrated, act fast AND start small.
Hey Archie! Agreed, it's been discussed in some other comments. Not validating with this method does NOT mean the idea is bad. You can still iterate if you find things you should improve. I just get a lot of ideas and have a need to through them away quickly, can't afford long iteration loops. But some people may prefer that and it's totally fine.
Indeed: act fast + start small is the big "applies to everything" takeaway here.
This is a brilliant use of conditional logic and solves my ever-present pricing conundrums with MVPs. Thanks Thomas!!
What have you found to be the price range people have put in, I'm curious?
And did you use this with building TweetHunter?
For Tweet Hunter we actually built the MVP over the course of a few days. The overall method was very similar, but we indeed had a very light form of the product ready. Not having an MVP (even a very basic one), is a disadvantage. I'm lucky enough to have complementary skills with my co-founder and this allows us to build those fast.
But validating demand without a product ready is possible. Harder, but doable. And I mean if you can sell something that doesn't exist, that shows to how good the idea is.
As for price range, well that's a hard one to answer. Depends on what it is, who you target, if there's competition/alternatives... If you're targeting indie hackers, price should probably be pretty low ๐ญ
SO helpful to have a technical co-founder.
I'm a solo founder by nature, but i can cobble together enough no-code tools to build a working MVP and a decent landing page in Webflow (case in point, Tangram, my current SaaS side project, a marketing plan creator for techy founding team).
Haha in particular I was curious what price ranges you had when you'd done this yourself!
IKR, Indie hacker pricing is pretty darn low. Hurts inside.
But I need to put a price option into the Tangram form...gonna try that this weekend and see what happens! I've been nervous no one will pay for it, but I've got social proof that people love it so far and there's definitely demand so...
Oh and I actually forgot to answer your questions because I got so excited.
So I've never tried to presell something for more than $19/mo personally. In the case of Tangram, I think it's worth exploring that type of price range for as long as it's Notion-based. But add some UI over that and I think you have a $100/mo product easy.
You can also sell tons of services on top of that, sell your own services or do some lead gen for other providers. Lots of upsell potential here.
Sophia. I'm gonna be a bit rude and I apologize for that, but I just can't help myself: HOLY SH*T this Tangram is a good idea. I actually had a similar idea that I've kept in a closet for quite some time and did nothing with it.
I love it. I feel like this is what a lot of technical solofounders need. Kind of like an "Ikigaรฏ" but for marketing strategy and execution. This is GOOD.
I can't say whether or not it'll work of course, but the problem you're tackling is very interesting.
Please add a payment option to this and see how it goes. I think you're at a great stage to test that.
Also, don't hesitate to hit me up on Twitter DMs if I can help somehow. I followed you back minutes ago.
Thank you Tom!!!
I actually own a Brand+Marketing agency for SaaS Startups, Tangram was originally built as an internal tool. I love marketing strategy, but found myself re-inventing the wheel for each client. Tangram solves that.
Just added a payment requirement in there, my original thought for the paywall was $100, good to know that might be a good spot.
Each month i'm releasing new tools, but for the time being, each month i'm blocking out a day to work on Tangram.
Next step is getting some UI and for the logic to calculate automatically - rn I still have to assemble the plans and send them manually. :D
DM'ing you now! I have several Q's. :)
Inspiring post, thanks :)
"From idea to validation in 24 hours" is something I can only aspire to and will now see as a hallmark of entrepreneurial efficacy. In actuality, I'm aware that some of my greatest discoveries (perhaps these ideas have had lower potential than the ideas that this method is effective for) have been founded upon the many atoms of dialog, research and experimentation that compounded into an idea greater than the sum of its parts.
I'm a big knowledge management geek so I believe a world of exceptional entrepreneurs would also be a world where we donโt treat our idea validation efforts like the exhaust of ideas: ideas to be thrown away as we challenge them. Ideally, when we learn more about an idea we assessed several months ago, weโd go back and extend that idea. By connecting our insights, new and old, we are continuously developing our business blueprints for the next iteration. I believe this is where networked thought shines and innovation lies.
Nevertheless, a 24 hour iteration loop for idea validation is something I'm going to aim for in the future!
I agree with everything, and thanks for saying it.
This is definitely not a method you should apply blindly to everything.
And also, in the end, it doesn't really invalidate the idea itself. It just proves there's something wrong in the equation, and it's likely not the idea itself because, well, there aren't many "bad ideas".
So applying that to iteration is very valid I think.
๐ Keep it up, Tom. Excited to see where you head in the SaaS world. I keep seeing you pop up on my social media feeds. I'll be right behind you trying to make some impact of my own :)
Itโs great, thanks for sharing!
In case it's been 4 weeks since you launched your SaaS and still haven't made a dime - DM me on Twitter.
That's an excellent process! Thanks for writing it up, Tom!
I think the hardest part here is finding quality forums, communities, reviews, etc. from which you can learn the burning problems of your audience.
Although talking to people is not feasible in 24 hours, I think that should be the next step once you got basic validation, so that you can refine your idea and build a great MVP.
Hey Rob, happy to see you here!
I agree fully. This process is to validate demand quickly, not have a thriving business in 24 hours.
Next steps include researching the problem in depth, talking with potential customers, exploring feasibility and, well, building ;)
These are all steps that require quite a bit of time for a lot of products. Which is why it's a good idea to have a mini-24h-version to make sure you're not gonna waste weeks.
Thanks for sharing this!
Thank you Piotr!
great piece!
Thanks Alex, I hope it'll prove useful to some!
Fantastic write up! :)
Thank you Nick!
Very informative. Thank you for sharing your thoughts.
Thanks for the post! Very informative
You're welcome!
cool man
@tomjacquesson Sounds clear. What was your idea that you validated in 24 hrs?
Hey @avanathan, I actually mainly invalidated ideas with this method.
Some examples of ideas I invalidated:
The one idea I really validated, I had to take it a step further and build the MVP with my co-founder and then apply the same methodology (it added approx. 3 days to the process). But that can't always be done.
What was the Customer profile of your Online Community Search Engine because I'm very surprised that it didn't take off. Also what was the pricing/ Metric you were tracking?
People like you and me looking to launch / talk about their product in online communities. Lots of traffic, very little payments, too hard to make it a great subscription-based product.
I would use this service, I mean as long as I could get access to the founder of the community. something like this https://www.getcyberleads.com/ but for communities.
....that's the thing about invalidating ideas rapidly, though I respect the concept of optimising to ship things people want, the framework doesn't really give the ideas a fair shot of finding it's market.
We have 2 problems in our community, 1. We work on projects too long that wont get us towards our personal financial goals. 2. We quit too soon without giving a project time to get traction.
I would have potentially paid for that service and yet your validation process didn't reach me, and If it didn't reach me who else didn't you reach.
I'm grateful for you succinctly creating a 1 day rapid validation process it's definitely very useful, I've sent it to a friend and we are going to try it out. I will let you know it works out for us.
Totally agree with you.
This method doesn't really invalidate the idea itself. Most of us make that shortcut of saying they want to "validate the idea", but that's not the point of validation. It just tells you there's something wrong somewhere.
Truth is, there are very few bad ideas. Most ideas, with the right setting, will work.
Still this method is good for me because it fits right with my personality.
I'm quite a creative person (but don't worry I have many flaws to compensate that). So whenever I discover a topic, a niche or whatever, I see a few problems and come up with ideas pretty quickly.
If I take one idea for a 3-month long iteration loop and fail, well I still have 100 more ideas to go through.
So I'd rather fail fast than not have an answer before months have passed. Doesn't mean the idea was bad, but at least I get to move on to the next one quickly and can always come back to it some day.
But other people, with different strengths and personalities, will want to deep dive into an idea and iterate many times, deciding that even if they didn't make sales in the first iterations, it may still be worth the effort. I think if these people succeed at some point, they are likely to build very successful companies.
"Small bets" vs. "big bets" I guess. I think I have the odds in my favor to have a decently successful company at some point. But probably the other person has a shot at a way bigger payout.
Thanks for sharing this Tom. Curious if landing pages with payments integrated are useful for entrepreneurs who are still building an audience?
And how much percent of those who visit the landing page convert as paying customers?
Obviously having an audience will make it a LOT easier. But there's plenty of successful founders who don't have an audience.
Many people claim you should build an audience before you build a product. I'm not entirely sure that's true, I think product and marketing need to go hand in hand and be done simultaneously. It's not "one after the other, I'm done with product now I'm gonna do marketing".
As for the landing page conversion rate, again it's a very hard question to answer because it depends on your industry. I believe the average for SaaS is 2.5-3%, but depending on various factors (cost, target audience, importance of product, social proof, etc.) this can vary widely. I would say if you can convert 1 person to buy a product that doesn't exist yet, doesn't matter the conversion rate: you're on the right track.
This was amazingly explained. Thanks Thomas!
It reminds me a lot of the process I used to nail Startup Weekends back in mid 2010s :D
We should create a twitch channel and make a weekly palinsesto where IHers launch in << 24hours.
That's definitely what inspired me. And so many great startups were born out of startup weekends, hackathons and game jams.
But it doesn't have to be something you only do once a year with a group of peers. You can actually apply it to yourself when you're starting out.
'cmon let's make a twitch channel and host one IH per week , launching in 24hours live :D
Great post!. How do you approach the users? is awkward to be reached by a stranger who wants you to buy something that isnโt even ready.
I replied to a comment by @Colelyman giving some pointers for this (scroll down). But basically: it won't be that weird if you actually take the time to show you've researched them and aren't randomly messaging people with copy/pasting.
Great article, Thank you for sharing.
Thanks @Demuchi!
nice, I generally take three months to do that ;D
Haha yeah, to be honest sometimes I do too. I've stopped in the past year though, and this method or variations of it has worked pretty well for me. I stopped wasting time on ideas that weren't good or for which I wasn't the right founder;
Who wants to try it working together? ;)
Interesting, I took a really simple approach for starting to validate a peer to peer market idea. I'm going to read over this in more detail, but I have the landing page live, so my first test is will people even sign up to be notified for launch. There are some conversion metric numbers to look at too. If they are below what would be a normal conversion rate, then I'll go back to the drawing board (either to just tweak some things or scarp the whole idea).
This is a good first step, especially if you're aiming for a marketplace business model.
However, I have no idea what a good conversion rate is for "people signing up to get notified", so I guess it's hard to know what your target should be for that metric. Or maybe you have insight into that kind of conversion rate? My guess is it should be way higher than a typical "payment" conversion rate.
Hi! Great article. One question. What do you do with those people who paid and didn't receive the product?
If you never ship, I suggest you refund them. To be fair: don't charge people for a product saying it exists if it doesn't. I think a good way of doing that is offering a significant discount to those people and, obviously, a refund if you don't go through with it.
You could even go on step further and automatically refund everyone. After all, the point was to prove demand!
I understand, but what should communicate on the landing page if product doesn't exist?
I responded with a few options to various comments here, I suggest you take a look! These are just suggestions of course.
I read this and FINALLY stopped lurkingโฆit was too good to not engage with.
Thanks for sharing this framework, itโs really helpful, with the perfect mix of tactical (especially around getting a first customer).
Iโm building something that would have solved a problem for me when I was selling real estate (in the US). Part of me says skip validation because Iโm building it for myself, and the other part says get validation so itโs not just a hobby that ends up costing money.
Do you have any thoughts on that? I feel like itโs a false dichotomy (for me).
Thanks for your post!
Thanks for the compliment!
So my actual product actually started off as me and my co-founder trying to scratch our own itch (mine especially, it's Twitter-related and I used to suck at Twitter).
I say do both: scratch your itch and validate
Validate because you want to be sure other people feel the same way you do.
Scratch your itch because this improves your understanding of the problem AND your motivation to keep working on this long term.
If you want to monetize your product, then you still need to validate. Figure out who are your customers and how to reach them, e.g. cold emails, LinkedIn outreach, SEO, etc. Then find a few to validate your product.
I really enjoyed this post, thank you! I have a question, what do you say as you are promoting the landing page? Something like โI am developing a tool to solve X, would you give me feedback?โ?
It's gonna depend a lot on what you're building and who you're targeting.
But "asking for feedback" seems a bit "light" to me to prove real demand and validate the idea.
If your approach is to ask for feedback, you're gonna get kind people who give you feedback. And that's great! But it's not what you're looking for.
I would be a bit more forward.
If you play the DM card, I would have a 2-step phase somewhat similar to this:
If you play the "public post" card, then it's a bit harder. Ideally you may have some sort of MVP. But maybe you can also just make a user flow with Whimsical to show what you're gonna build. Screen record that and share it publicly, say you'll send the link over to whoever is interested in joining the private beta (only X spots available).
Hope that helps!
This helps a lot! I like the paradigm shift from "get feedback" to putting their money where their mouth is and signing up. Thanks @tomjacquesson!
guys, I need your help, would you please check out my landing page and give me some tips about it?
https://www.indiehackers.com/post/need-your-feedback-on-the-landingpage-5f6b04d571
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