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Strategy

Business validation

Test your business concept to ensure it's viable, valuable, and desirable to your target market. You wouldn't enter unfamiliar terrain without a map. Similarly, you must first validate your idea when starting a business venture.

That’s where Leap Forward’s business validation services come in. Our experts will provide the compass that points you in the right direction. Determine if you have a viable business idea, whether you need to pivot slightly, or if you should abandon the project completely.

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  • Business validation

How does the business validation process work?

At Leap Forward, we take a five-step approach to validating businesses. It works as follows:

  1. We start by defining the value proposition: We dig into your idea’s unique selling points (USPs), laying the foundation for a preliminary business model that highlights your business’s potential strengths and opportunities.

  2. We work out how to test your business concept: We work with your team to map out the scope of the test, creating a thorough action plan. This involves identifying assumptions, potential risks, and defining key performance indicators (KPIs) to help measure the test’s outcomes.

  3. We design a prototype to test desirability: The prototype could take several forms: scenarios, functional prototypes, or even video prototypes. This tangible representation of your idea is a powerful tool that allows us to assess how well it resonates with your target audience.

  4. We execute the test and gather feedback: We launch the prototype to early adopters and collect their responses. Their feedback provides a wealth of insights about your idea’s strengths and areas where you could improve your business concept.

  5. We analyse the results with you to guide your decision-making processes: Based on the feedback, we help you make an informed decision on whether to persevere with the current model, pivot to a different approach, or scale up the test. We ensure this decision is data-driven, setting you on the best possible course of action.

Why invest in business validation services?

Investing in business validation services is like taking out an insurance policy on your business idea. It safeguards you from costly missteps and guides you towards a successful launch. You’ll save time, effort, and resources by testing the waters before diving in.

By partnering with Leap Forward, you’ll gain expert guidance and informative insights that will allow you to identify your best route forward. We’ll help you make informed decisions, minimise risks, and maximise potential returns.

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