From Idea to Revenue as Fast as Possible.

You probably get ideas all the time, and a lot of ideas seem good at the time you have them. A few ideas turn out to be good, a few of those turn into products, and even fewer turn into viable businesses. The difference between the ones that make it and the ones that don’t is simple: market/product fit. The people who go out into the market and find a group of customers who have a problem—and are willing to pay to get it solved—are the people who end up building successful businesses.

The people who simply fall in love with their idea and never try to validate it will go around in circles because they haven’t found a market. They haven’t found their tribe. But the people who fall in love with the problem—and not their idealized solution—are the people who are most likely to succeed.

In this Forbes article, Abdo Riani talks about generating revenue as fast as possible to validate your business idea.

“Before you can successfully label a startup idea valuable or demanded, you must first prove its validity. While there are many experiments you can run to validate a startup idea, your North Star and strongest validation criterion should always be cash no matter the innovation or business model.”

“Before you can successfully label a startup idea valuable or demanded, you must first prove its validity. While there are many experiments you can run to validate a startup idea, your North Star and strongest validation criterion should always be cash no matter the innovation or business model.At first, defining the version of the product with enough value that justifies users’ payment can seem challenging. Many entrepreneurs end up overbuilding, overspending and launching an advanced version of their product when potential users only needed to get a certain job done with or without technology. To generate revenue from your startup idea before writing a single line of code, you must focus on identifying and getting the job done significantly better than current alternative solutions either by leveraging existing tools or by taking the role of the technology.”

At first, defining the version of the product with enough value that justifies users’ payment can seem challenging. Many entrepreneurs end up overbuilding, overspendingand launching an advanced version of their product when potential users only needed to get a certain job done with or without technology. To generate revenue from your startup idea before writing a single line of code, you must focus on identifying and getting the job done significantly better than current alternative solutions either by leveraging existing tools or by taking the role of the technology.”

Abdo Riani – Forbes

He goes on to talk about using the Jobs To Be Done methodology to define what your customer needs to accomplish. It’s a good approach, and one we use often at Nine Labs. 

You have to find the market of people who are willing to pay to solve a problem before you can actually build a business. If you can’t do that, you need to get comfortable with the reality that your idea probably isn’t worth pursuing. You might be able to have a hobby, but you can’t build a scalable business.