So you got that great idea about a hot new startup?

How are you going to test the idea? How do you find out how

much people will pay for it, if anything at all?

Do you have the money and time to actually build the product or

service and test it? Most likely, no!

Whether it is a mobile app, web app or something else

You need to create a prototype, get customer feedback, rinse &

repeat till you get to something that works

Use Powerpoint animations, Wordpress or Specialized tools to

create a prototype

Set up a Landing page with sign up form / paypal payment using

Wordpress.

Drive some traffic to this page.

Use Free sites like Reddit / Slideshare or Paid at Google /

facebook to drive targeted, high quality traffic

Catch people in coffee shops and malls. Show them the

prototype. Let them play. Get feedback.

Build your funnel. Estimate percentage conversion at each stage.

Base it on landing page data, not face to face meetings unless

customer writes a check.

Open Excel. Enter estimated number of prospects and conversion

rates. Multiply number of customers by price. Subtract your costs

to get profits.

Not looking good? Its better to fail now and start afresh.

Keep looking for the next idea and keep your current job!

Looking good so far? Time to get serious.

Refine the prototype. Spend some $$$. Drive more traffic and ask

them to pre-book by paying at least $1

Create three scenarios – Good, Bad, and Ugly.

Is ugly looking good? Too good to miss!

Good looking OK? Skip!

If you made it this far, you are on to something. Keep going. Dig

more. Look left & right. Did you miss anything?

Talk to potential co-founders

Get Ready to Launch!

Thank You for Your Time. Please Check Out Our Other Books

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