Most startups fail not because of bad ideas — they fail because founders skip validation and jump straight to building. This checklist gives you a repeatable framework for pressure-testing your concept before you invest significant time or money.
Define the Problem Clearly
A business only works if it solves a real problem people actually have. Write a one-sentence problem statement: "People who [description] struggle with [specific problem] because [root cause]." If you can't complete that sentence clearly, you don't have a validated problem yet.
Identify Your Target Customer
Get specific. "Small businesses" is not a target customer. "Solo service providers in the US with under $250K annual revenue who manage their own bookkeeping" is. The more specific you are, the easier everything else becomes — marketing, pricing, product decisions.
Research Existing Solutions
If no one else is solving this problem, that's usually a red flag — not an opportunity. Research competitors thoroughly. Your job isn't to find a market with zero competition; it's to find a market where you can win by doing something meaningfully better or different.
Talk to 10 Real Potential Customers
Before building anything, have 10 conversations with people who match your target customer profile. Don't pitch — ask questions. "How do you currently handle [problem]?" and "What's the most frustrating part of that process?" are worth more than any survey.
Test Willingness to Pay
The single most important validation question is: "Would you pay for this?" — and more importantly, "Would you pay for this right now?" If the answer is enthusiastic, you have something. If it's "maybe someday," keep digging.
Estimate Your Market Size
Do a simple TAM/SAM/SOM calculation. Total Addressable Market, Serviceable Addressable Market, and Serviceable Obtainable Market. You don't need a consulting firm to do this — a spreadsheet and 2 hours of research is enough to determine if the market is worth pursuing.
Build a Minimum Viable Offer
Before you build a product, build an offer. Can you deliver value to one customer manually, before you've built anything? If yes — do it. That first customer is your most valuable validation. They'll tell you more in 30 days than 6 months of planning.
The Bottom Line
Validation isn't about getting perfect data — it's about reducing uncertainty before you bet big. Run through these seven steps honestly, and you'll enter your launch phase with real confidence, not just optimism.
Need help working through this framework for your specific idea? Book a session with Jamos and we'll do it together.
Jamos L. Loghry
Founder · Loghry Startup Advisors · (402) 202-0581
Have questions about your specific situation? Reach out directly at jamos.loghry@yahoo.com