You've got the list above, but what really constitutes validation? For each item, enter a 1 for "Yes" and a 0 for "No" in the list below.
I can or have:
Yes =1 No = 0
Fill in the blanks in the statement "My SaaS solves [SOLUTION] for [SPECIFIC AUDIENCE]."
Thoroughly reviewed all your major competitors products and understand the features of those systems as well as how they sell their systems and to whom.
A unique selling proposition, a reason for your customers to buy my product instead of my competitor's product.
Some designs that walk your advisers or potential customers through your system, and those designs and ideas are easy to understand.
Advisers that think this is a good idea and have given me money for my product.
Sent a survey to my potential buyers and they have told me that they will buy my product and have given me a good idea of how to price it.
At least a few users are willing to talk to me about buying my system before it is built.
A identified and tested several different methods of distribution and determined that these systems will definitely work.
A pricing structure that my customers accept and will make me money.
A budget to work with in order to build the system and distribute it.
The enthusiasm to do this project and the time to devote to it.
Add up all the items from the list above. If your score is less than 11, then you're not done validating your system and are in danger of losing all your money and wasting all of your time. So go back and finish your homework before you get started!
Don't be put off by the work it will take to plan out this project. The more work you do now, the less money it will cost in the long-run and the faster you will get to market. The biggest mistake you can do is to jump head-first into the deep end and drown in a sea of debt and sadness.
If you're questioning this, just think about what you're going to tell your investors when they ask you why your product isn't selling or why you're not making money. It's going to be a pretty hard conversation, and it can be resolved before you ever get to it if you'll follow these steps before you start.
Remember what Sun Tzu taught in "The Art of War." He said "Every battle is won before it is fought."
This is how to win.