Step five is assessing where you're at. What we're looking for here is a 10% sell-through rate. If you have 20 prospects and two or three of them buy, awesome. That means you should go and actually build out the rest of the product. But if you do that and you still don't get that 10%. then you know that this product or service may not be valid. It may not be worth investing in and building out because people might not be willing to pay for it.
Austin shares his 5-step process for validating any side hustle idea to make sure it will be worth your time!
Time Stamped Show Notes:
[0:30] - Your idea needs to be validated
[1:27] - Brainstorm & niche down
[4:06] - Build your unique offering & offer a pre-order discount
[7:47] - Find potential customers & ask them questions
[9:22] - Speak to your customers & get their feedback
[13:00] - Assess & iterate
Have questions about how to vet your side hustle ideas? Text them to Austin at (201) 479-9511.
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