How can I test out if new business ideas are feasible?
Answered by Jacob Laukaitis, marketer
It's very simple:
- Build an MVP (minimum viable product) and see if you can get any users or customers for that product/business;
- Learn as much as you can from those users/customers - spend time talking with them on the phone and asking them to fill out various surveys;
- Analyze the data and figure out whether you need to pivot the business, close the business, or simply continue growing it.
Some really good books I can recommend here are: The Lean Startup by Eric Ries and The 7 Day Startup by Dan Norris.
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