How to Validate Your Business Idea Without Breaking the Bank: The SME version, so buckle up!

Welcome, aspiring entrepreneurs! So, you have a fabulous business idea that’s going to revolutionize the universe (or at least your garage)? Hold your horses! Before you put all your savings into an inflatable unicorn-shaped pool for your future office party, let’s talk validation. This is what I have done myself for my businesses as well as for my clients, and it works, so here's my secret sauce: make good use of it, and you will soon be on the right path to success.

Here’s how to test that idea without selling a kidney.

1. Ask Your Friends (and Everyone Else You Know)

Your friends will be brutally honest. Well, at least most of them will be. Don’t be surprised if your best friend says, “You actually thought people would pay for that?” You might as well find out now before you create an app that connects pet goldfish with purring cats. Get feedback over pizza (it’s cheaper than therapy).

2. Survey Says…

Create a simple survey. You know, the kind that gets straight to the point and doesn’t read like Shakespeare’s lost works. Use platforms that won’t cost you anything, like Google Forms or SurveyMonkey. Just remember, no one likes fifteen-page surveys. Simple and short is the name of the game—unless you want your respondents to fall asleep halfway through!

3. Social Media Stalking

No, not the creepy kind where you lurk outside someone’s window (that’s not legal). Use social media to gauge interest. Post about your business idea and see how many rocket emojis you get. If you’re getting more crickets than responses, it might be time to rethink whether your idea needs a little polish—or if it should be sent directly to the recycling bin.

4. Prototype or Die Trying

Okay, don’t actually die trying. But creating a rough prototype or mock-up can really help. Half-baked ideas sometimes taste better when you can actually see (and slightly touch) them. You don’t need a fancy 3D printer for this—get crafty, channel your inner kindergarten and use some cardboard. It’s like a kid’s art project, but with the potential to make you a million!

5. Try the Market on for Size

Attend a local market, festival, or even a farmer's market. Set up a little booth and put your idea to the test. Nothing like watching someone’s face go from “This is awesome!” to “Where’s the nearest exit?” in real-time. Consider it a free focus group—just don’t forget to bring snacks. Everyone loves snacks.

6. Pivot Like a Pro

If it turns out your idea isn’t the golden goose you hoped for, pivot! Your idea didn’t fail; it simply went on a detour to fabulousness. Gather the feedback, adjust your prototype, and don’t let the door hit you on the way out of the ‘bad’ idea pool.

My last thought

Validating your business idea doesn’t have to cost an arm and a leg. Just a little creativity, a sprinkle of humor, and a dash of humility can help you find out if your brainchild is a winner—or if it should quietly slip into the void. Remember, every great entrepreneur started somewhere, probably in their pajamas and surrounded by snacks. Now get out there and find out if your idea is ready for the big leagues! ????

Also, if you want to know more about business growth, drop me a message, Giovanni Jolicoeur so we can discuss your business idea or your business problem. There is also the startup version click here to read the article : Link

PS: a like and a share goes a long way and could be your good deed of the day as it will help me share this knowledge with more people, so be a good Jedi not a Sith (Dark Vader), thanks!

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