{"id":1349,"date":"2023-01-29T11:31:12","date_gmt":"2023-01-29T19:31:12","guid":{"rendered":"http:\/\/www.ryrob.com\/?p=1349"},"modified":"2023-03-09T06:43:50","modified_gmt":"2023-03-09T14:43:50","slug":"validate-business-idea","status":"publish","type":"post","link":"https:\/\/www.ryrob.com\/validate-business-idea\/","title":{"rendered":"9 Steps to Validate a Business Idea in 30 Days with Less Than $500 (My Validation Challenge)"},"content":{"rendered":"\n

During the month of December 2016, I embarked on a 30-day challenge to validate a business idea<\/strong>, limiting myself to spending less than $500 to make that happen. I asked you to tell me what idea I should validate, too. The consensus: A hiking guide for California.<\/p>\n\n\n\n

The challenge was a major success<\/strong>.<\/p>\n\n\n\n

In just a few short weeks, I pre-sold<\/em> 12 copies of a hiking guide (that didn’t even exist yet), generated $108 in revenue<\/em> without a website and built an email list<\/em> of 565 email subscribers who wanted to learn more about my upcoming hiking guide.<\/p>\n\n\n\n

This was all done without using my existing audience, business, website, traffic or any other resources aside from my skills and the system I teach students who want to validate a business idea. I even had time to take a week-long vacation and visit my family for the holidays while validating this idea.<\/p>\n\n\n\n

I’m telling you this because you can do it too<\/strong>.<\/p>\n\n\n\n

In fact, you can take my system for validating a business idea and be far more successful than this little challenge was. I’ve used this system to generate more than $5,700 in pre-sales of a physical product for a previous business of mine. I’ve used it to pre-launch an online course and drive over $10,000 in revenue in one week<\/strong> without<\/em> a large audience. I even used this strategy to land a $120,000 consulting contract and validate my content marketing<\/a> business before quitting my day job.<\/p>\n\n\n\n

If you want to start from the very beginning, read more about the rules of the challenge and dive deep into my weekly updates with an insane amount of detail around the execution of each tactic, click right here<\/a> to jump down and begin reading from the day my validation challenge started.<\/p>\n\n\n\n

For now, I want cover all of the major lessons I learned during my challenge to validate a business idea<\/a> in 1 month. After analyzing all of the steps I went through during this challenge, looking back at how I built my previous businesses, interviewing dozens of entrepreneurs<\/a> on this subject and applying my system from The Launch Formula, I’ve boiled it down to just 9 simple steps to validating a business idea.<\/p>\n\n\n\n

But first, let’s quickly cover what validation actually is, what it isn’t and why it’s important.<\/p>\n\n\n\n

What is Idea Validation?<\/strong><\/h3>\n\n\n\n