7. Validate Your Solution

Let’s say at this point you’ve finished step one and determined that your startup idea solves a painful problem. How valuable is that solution? Enter: Question two on your startup litmus test: “Will people pay for your solution or product?” Ideas are great, but they don’t make money. Businesses make money. Once you can validate that people will open their wallets or their checkbooks for your product or service, then you have business idea.