A founder tells me the idea is validated. I ask how. "We built the product and it works."
Great. Only five pillars to go. Congratulations, you validated exactly one out of six.
Here are the other five:
- Customer. Who has the problem? Name a specific person, not a segment.
- Problem. Does it hurt enough that they will pay to make it stop?
- Sales. How do you reach those people, again and again?
- Price. Will they pay an amount that makes sense for you too?
- Return. Is there a business left after all of that?
Product is the pillar people start with, because building is fun. So they build it, it works, and they call it proof.
But the fact that something works is not proof that anyone wants it. The other five pillars can be tested cheaply before you start building. A few conversations will show whether the customer and the problem exist. A rough offer will show whether the price holds.
Skip them and you find out after you have spent the money, not before.
So the next time you feel the idea is validated, count the pillars. Usually it's one.
Which of those five are you still just guessing?