SEASON ONE: EPISODE TWO - VALIDATION
In this episode...
This episode is all about how to validate a business idea (AKA business model validation).
In this episode, Jake talks through how he went through the process of testing business ideas to determine if the idea would be viable BEFORE launching the business. This is the truest form of validating a business idea. This is the process of business model validation.
This comes from real world practice, on Jake’s third attempt at starting a business. This is a learned process from real world business experience learning how to validate a business idea.
This is a continuation of The Online Business Case Study (Season 1) where Jake is documenting his business selling study material (online courses) in the insurance industry.
In this episode about business model validation, Jake goes behind the scenes to show how he determined the viability of his business idea through a two-step process:
1) Talk to your target market to determine the pain point.
2) Conduct a market size analysis.
Additionally, in this episode, Jake has provided criteria that you can use to go through the process of testing business ideas. This is a step-by-step case study showing you how to validate a business idea.
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Resources mentioned in this podcast series:
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