Eben PaganDiscovery Hub

How to Validate a Niche Before Building Anything

5Steps3Clip evidence2Anchor concepts5Taught in programs
How-ToFrom the source
“How to Validate Your Virtual Business Idea Before Investing Money -- A systematic approach to test market demand using free and low-cost online tools before making major investments in product development, marketing, or team building.”
From:7 Keys To A Virtual Business

Steps

  1. Create Test Content

    Start a blog, join social networking groups, or participate in forums related to your topic. Begin talking about your subject and engaging with potential customers.

  2. Offer Free Value

    Create a simple opt-in page with a headline, possibly a video, and a picture of a free PDF download or webinar. Make the only option for visitors to either opt-in or leave.

  3. Measure Opt-in Rates

    Track how many people opt-in versus total visitors. 1% indicates low interest, 10% shows better proof of concept, and 50% indicates strong market validation.

  4. Survey Your List

    Ask people to leave comments about their biggest challenges and problems. Create simple surveys and ask your growing list to participate.

  5. Test Individual Conversations

    Use live phone and video conferencing to interact with prospective customers, ask questions, and understand what resonates before automating anything.

Relevant Clips3

  • How-To

    How to Validate Your Virtual Business Idea Before Investing Money -- A systematic approach to test market demand using free and low-cost online tools before making major investments in product development, marketing, or team building.

  • How-To

    How to Choose and Test a Profitable Niche -- Eben Pagan's systematic approach to selecting and validating niches that have high probability of success

  • How-To

    How to Test Products and Services Quickly -- A framework for validating business ideas with minimal time and money investment