How to validate your idea quickly with $0 (2-4 weeks)

You want to learn how to validate and test if your idea is good, and you want to do it quickly with $0.

Let's face it - your idea is probably shit. I mean, it might not be, I hope you prove us wrong.

We’ve been through 7 ideas in almost 3 months and invalidated each one. But we did it in about 2 weeks and with $0.

We want to focus on those 7 shitty ideas and why they were important.

The largest contributor to saving thousands of $ and hundreds of hours was (in)validation. We have attempted so many problem spaces and come up with so many solutions that invalidating ideas, quickly and effectively, is one of our top skills.

We have invalidated ideas in a couple of days.

But… we learned this the hard way. When we began our entrepreneurial journey, we got so wrapped up in the “perfect idea” that we only looked at the good stuff and focused on building the “business” instead of attacking it.

This is what we did with our first business and we ended up waiting 8 months and almost spent a lot of money.

The more time spent going on good “dates” with an idea, the more you’ll fall in love. Validation has to be harsh and quick. If it passes the test, great; that's one of many.

Let's jump into exactly how to validate your idea in quickly with $0.

If after reading this you still feel overwhelmed, feel free to use ufoünd to make this process that much easier by getting in front of your ICP without doing any work.

Disclaimer: In this essay we are assuming you have a “new” idea that either has never been done, or an idea in which you believe you can make a certain process better. (Copy and paste service businesses are different).

“How do I know if my idea is good or bad?”

This is probably the worst question you can ask yourself when thinking of starting a business.

What you should really be asking is “How can I invalidate my shitty idea quickly with $0”.

What we have learned over the past couple of years since starting our entrepreneurial journey is that we’d rather find out that we have a shit idea than spend thousands of dollars thinking it is not.

Over the past few months behind the scenes, we have gone through multiple start up ideas. Using the Lean Startup methodology and the Mom Test (read the books), we have been able to invalidate them quickly, without spending any money.

Here is what we would do if you are reading this with an idea you have been pondering and want to know how to validate it quickly with no money while working or studying full time:

Step 1: Forget the idea, focus on a problem.

If you lead with an idea it means you believe you have the answer to a specific problem. But what if what you think is a problem isn’t one at all? Or what if there is a better way to solve it?

Take a step back and figure out exactly what the core problem you are solving is and go from there.

So now, instead of asking "How do I validate my idea quickly with $0" you should be asking "What problem is my idea solving and does it really exist?".

Write that down and memorize it. It will be the backbone for the rest of the steps, but keep in mind it will likely change as you go through the process.

Step 2: Lay out your ideal customer profile (ICP).

What would someone who experiences this problem look like? If you are solving this problem out of a personal need, then do some self-reflection to figure out what type of person you are. If not, it will take a little more thought and digging.

Be as niche as possible here to ensure you can directly target a specific profile and offer them a more personalized solution.

If you want to validate your idea quickly and with no money, figuring out who your ICP is will be key as they will give you the answers you need.

Step 3: Build an assumption matrix + questions list.

You want to treat this phase like a scientific experiment. You are looking to disprove all assumptions you have. Remember, good scientists are always looking to disprove theories, not only find confirming evidence.

Entrepreneurship is much the same. You want to figure out how to invalidate your shitty idea quickly, remember? Listing out assumptions is a step you cannot skip, no matter how boring it feels.

An assumption is anything that you need to be true for your business to be successful.

Assumption #1 will always be that the problem you are looking to solve is actually a problem. Another is that the solutions that are already out there are not sufficient. Continue this process and make sure to list as many as possible, no matter how obvious.

Yes, some may have more evidence than others. You may already know that the problem exists, well, because you are experiencing it. This is why this process involves a matrix.

An assumption matrix is a simple x/y axis graph with evidence ←→ no evidence on the x axis, and not important ←→ important on the y axis.

Start plotting each assumption where you feel it best fits. At the end you should have some assumptions in the top left corner: the important + no evidence box. These are the assumptions that you have determined are important to your businesses existence and you have little to no evidence that they are true.

List these assumptions out. Start to write down questions you could ask to your ICP to start getting data on these assumptions. This part can take a while and you will have to get creative.

Make sure the questions are as open ended as possible. Being too direct will bring bias in. You want to give space for the person to go on tangents because those tangents could lead you to the real problem.

Write them down on a google form. You will use this google form later (not for a boring survey).

Step 4: Start reaching out to your ICP.

Before building a landing page, thinking of a cool name, telling your friend, or posting about it, just take a deep breath and hold yourself back. The very first thing you need to do is talk to your ideal customers.

Find out where they live. Not physically (you creep) but online.

You can use ufoünd to save you time and money when finding your ICP.

In addition to ufoünd, LinkedIn will be your best friend here. Craft a message and start connecting with people, adding the message in a personalized note.

Messaging 50 people a day is the minimum if you want to see results.

Make sure the message outlines that you are looking to learn more about [whatever your problem or space is] and based on their experience you feel the insights they can provide you would be invaluable. Ask if they are open to chatting for 15 minutes.

We've been able to speak to upwards of 20 people in a week with that simple message. People love to teach and talk about what they know (and about themselves). Have the mindset of a student looking to learn (and if you are actually a student, leverage that in the message).

If you aren't comfortable talking to people live, just remember that if things go horribly, you will likely never have to talk to them again...

If that still doesn't make you feel better, we recommend leveraging online communities and forums like Reddit and Facebook to talk directly to your target market.

Step 5: Meeting time.

You should have multiple calls booked with your ICP at this point. You really don’t need more than 10-20 calls to get the answers you need.

If you want to know how to validate your idea quickly with $0, well this is how. Set up meetings.

Some tips for the calls:

Use storytelling to break down barriers. Start the call and be open as to why you are talking to them.
- You have always been a problem solver and hate when problems exist that don’t have a solution. You heard that people like [ICP] are experiencing this because when you [insert the story of how this came about]. Now you are looking to learn more about x and would love to ask some questions. Even mention how you love entrepreneurship and creating new things.
Leverage the google form to stay organized
- Have the form open on a tab and as they are answering simply take notes under each question.
Let them go on tangents
- If they start talking about something else when you ask a question, let them. You may be surprised that everyone you talk to answers similarly, that will tell you that you were looking in the wrong place all along.
Ask for any referrals at the end
- I am horrible at this but it is key. Ask them if they know anyone else that would like to talk about this.

Step 6: Constant analysis and review.

Make sure to constantly review the notes from a call. Do this after every 3-5 calls. If you see a specific trend forming, get enough data to validate or invalidate an assumption, or see new topics popping up, etc, this means it is time to change/remove/add questions.

Make sure to make a copy of the google form for this so you can keep track of your pivots and what you changed.

At this point you have successfully gone from asking how to validate your idea quickly with $0, to IF your idea is validated (and it will be quickly and you should have spent $0 up to this point).

Step 7: Are you learning anything new?

Once you end a call, maybe it is your 9th or your 35th, and you say to yourself “I didn’t learn anything new from that call”, well it may be time to move onto the next phase.

This is only relevant if you have changed questions and validated or invalidated all important and no evidence assumptions.

There is no exact answer here. Honestly, even with all of the data you have, your gut and intuition will play a big part here. If you feel like you understand the problems, needs and behaviours of your ICP, it may be time to begin ideation.

Step 8 (it's not an 8, it’s a sideways infinity sign…c’mon): ideation.

Congrats! You have learned how to validate (or invalidate) your idea quickly and with $0. This is where we will stop for today.

This part differs so much depending on the business. But, you will want to start by finding a Minimum Viable Product (MVP) that will allow you to put your assumptions and data to the test and validate what should be now your #1 assumption: will people pay to solve this problem?

There are so many ways to test and build MVPs. I will talk more about that next time. Thanks for reading!

Don't forget to check out our platform ufoünd to help you get in front of your ICP!

Happy validating,

Eyal & Yoav