Double-Checking Your Business Model and Ideas

A practicing entrepreneur should never be afraid to put his or her business model and ideas to the test.

While an entrepreneur’s steadfast commitment to their startup should be a characterizing trait, they should not be opposed to checking their work, explains business model strategist Eric Ries in this short video. The only surefire way to find out whether or not your business will work, he explains, is to introduce your products and services to your potential customers.

Ries advises entrepreneurs to not “coach up” the customers or advise them on how to best use the product. Let them get their hands on it and do with it what they will. Then, sit back and observe. The data gathered from such testing should give any entrepreneur a clear indication of whether or not there’s a market for their products and ideas, he says. For more on double-checking your business ideas, watch the video featuring Ries.