Step-by-Step Guide: How to Validate Your Business Idea Now
Unlock business success with this FREE template to validate your product idea.
Have you ever had a great idea for a business or product that you were sure would be a hit? It's an exciting feeling, and it's easy to get caught up in the possibilities of what could be. However, as attractive as these ideas may be at first, the reality is that they can be costly if not properly validated.
Validating a business idea may not be the most glamorous part of entrepreneurship, but it is crucial. Without it, you could end up investing a lot of time, effort and money into an idea that has little chance of success. In fact, statistically around 42% of startups fail because there is no market need for their product or service:
According to Forbes, an estimated 90% of startups fail.
Harvard Business Review reports that 75% of venture-backed startups fail.
Small Business Trends reports that 20% of small businesses fail within their first year, 30% within their second year, and 50% within their fifth year.
Exploding Topics says early-stage startups need to spend up to 3x longer valida…
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