Testing Your Ideas at Low Cost
It’s important to validate your startup ideas.
Here’s a list of low-cost methods to do so:
Search the web for competitive solutions.
Look at how they are positioned in the market relative to your idea.
Do any of those solutions have recurring revenue?
Research those competitors to learn more.
Build a landing page on your website and place your proposed product on it.
Drive traffic to the page using direct email and see how many signups you get.
Check the search traffic to see how many keywords you can use and how much they cost.
Test your page with a few key search words to see what results it brings.
Promote the proposed product on social media.
See what feedback you get for it.
Try variations of the product, price, and promotion to see how that changes the results.
You don’t need a shipping product or even one in development to see how it will be perceived.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.
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Thank you for joining your host Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.
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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.