Validation Worksheet

A simple worksheet to help you validate your business idea.

This worksheet is broken down into 5 steps, with 3 critical stopping points where you have to build something and share it with potential customers.

I've used this worksheet to validate (or invalidate) dozens of ideas as quickly as possible over the years. I created it because none of the existing formats (Lean Startup, Business Model Canvas, Four Steps to Epiphany, etc.) are quite comprehensive enough. And with each venture, I have specific requirements that I'm trying to accomplish.

This doc forces me to ask the right questions and avoid making assumptions that could create blind spots.

Here's how to use it:
Link to validation worksheet

-Make a copy (File --> Make a copy)
- Follow the instructions step by step.
- First, complete steps 1-3 (developing a vision, identifying assumptions and boundaries, and research). Be as comprehensive as you can.
- After step 3, stop, and build a website, prototype, and/or pitch deck and show it to several potential customers ("get out of the building").
- With the data from talking to potential customers, you can proceed to step 4 (distribution, pricing, and financials).
- The culminating event of this process is being able to create a 5 year financial model based on real data (no guessing).
- Once you've completed the financial model, take the final exam.
- If you pass the final exam, it's time to build.

This process can be done in as little as 2 weeks but may take up to 8 weeks to gather enough data.

*Note - As comprehensive as this doc is, there are always questions unique to an individual company that need to be added. Please consider this a starting point and add individual questions as needed.

I hope this is helpful to anyone who has an idea, but not quite sure how to validate it and get started.

Happy validating!