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Now that I’ve proven that some people want my product/service, what do I do now?

From validation to revenue
Small Businesses
The Basics

Congrats! If you are certain there are people who want your product and service and are willing to pay for it, you’ve made it further than most startup ventures. But now that you’ve proven market need, you need to prove that the need translates into dollars. For nonprofits, this will likely come in the form of initial grant funding. But for for-profit companies, you’ll need to start going after revenue. The best way to do this is to build your initial Minimum Viable Product (MVP), and sell that to some Early Adopters, aka customers who are willing to try out new products and services. Of course, if you’re building a medical device or other capital-intensive product, it won’t be feasible to go after revenue. In this case, doing extensive market research & customer discovery and gathering a handful of Letters of Intent from key stakeholders will serve you well.

The Details

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