Validating the pepsi challenge
Listen to the interview on my podcast, The Side Hustle Project right here.Just press play 😊For now, I want cover all of the major lessons I learned during my challenge to validate a business idea in 1 month.Validation isn't a guarantee of success and it most certainly isn’t easy.It’s not as simple as putting up a waiting list and hoping people miraculously discover your offering & fork over their hard-earned money for something that doesn’t exist yet.I even had time to take a week-long vacation and visit my family for the holidays while validating this idea. In fact, you can take my system for validating a business idea and be far more successful than this little challenge was.I’ve used this system to generate more than ,700 in pre-sales of a physical product for a previous business of mine.
The end result validation attempts to achieve is most often meeting a desired number of pre-orders or waiting list subscribers who'd purchase a basic proof of concept of your idea—a minimum viable product that solves the form of the problem you're attempting to address.What's important is that I focus on the next incremental step that'd get me closer to my goal of validating my idea.For now, that meant choosing the right niche, not worrying about how I was going to make money with the idea. That brought me to my top 3 options of hiking in California, cooking hacks or long distance running.If you don't personally identify as a writer, consider Joel Saltzman's thesis in If You Can Talk, You Can Write, where he teaches people how to become writers by starting them off writing only about the interests they find themselves talking about most—which is also the clearest indication as to what you could potentially build a business around.After choosing these topic areas, I asked my readers to vote in the comments (below) and hiking in California emerged as the winner.