“If your startup failed, it’s because it didn’t solve a tier 1 problem for a large enough audience — here’s how to never make that mistake again.”
Today I want to share the simple framework we used to validate our first idea, in the hopes that it will help other entrepreneurs avoid failure.
For reference, this is the exact same framework we used to validate the idea for Bigcommerce (which I co-founded) back in 2009. Today Bigcommerce has over 100,000 paying customers, 500 employees and $125M in VC raised.
Validating the demand for your product is more important than ANYTHING. More important than features, your team, design, pricing, etc.
Without market validation you’ll have a product that no one will pay for. You’ll burn a lot of time, energy and cash and you’ll end up stressed, probably depressed and definitely burned out.
And that hurts — a lot.
OK so let’s get to it — here’s how to validate your startup idea before you launch. Before you invest or raise $1. Before you hire anyone.
This is an interesting framework that is a handy reference when building a startup. We used a similar framework when we built Flybase, and with our upcoming companion service.