How to Validate Your Business Idea for Under $100 | Ep. #136

In Episode #136, Eric and Neil list and explain the different ways you can validate your business idea for less than $100. Validating your business idea does NOT have to be expensive and these two experts will give you the tools you need to confirm that your idea is a great one. Time Stamped Show Notes: 00:27 – Today’s topic: How to Validate Your Business Idea for Under $100 00:35 – Tim Ferris’ validation on the 4-Hour Work Week on Google AdWords costed $50 01:09 – Use tools like Google Surveys and Survata 01:36 – Post an ad in Craigslist 02:43 – Use surveys in person or in video to get feedback 02:56 – Keep trying to get the best results 03:31 – Check Reddit and Quora 04:37 – Go to the INC5000 list and see what other companies are doing 05:13 – Look for companies in the same industry as yours 06:11 – Research the problems companies in your industry are trying to solve 06:30 – Look at Amazon and Ebay, if you’re selling consumer products 06:43 – Check Flippa and FE International to see what new online businesses are being sold 07:01 – Look at your market using Google Trends 07:48 – Use the Keyword Tool, Google Suggest and Google Keyword Planner to figure out search volume 08:00 – That’s it for today’s episode! 3 Key Points: Use online tools available to you to find that validation. Talk to people about your business idea and gauge their responses. Look at the companies in your industry and find out what problems they’re trying to solve today. Leave some feedback: What should we talk about next? Please let us know in the comments below. Did you enjoy this episode? If so, please leave a short review. Connect with us: NeilPatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.