Easy one, we have discussed the meaning
before.
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The best way, yet impractical, to test and validate
your idea is to sell it to real customers
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That would be very demanding in money and efforts and
risky
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So, a better, smarter way to do that is to sell your
product "value form" before it exists
That is "Shadow Testing"
It means: presenting your offer to real paying customers before it exists
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How to do that: PREORDERING: you have a prototype and
you have good feedbacks. You then need only to validate it by placing the
option to preorder it
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You DO NOT charge for this prototype until it is
finished
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So, you can see the actual amount of demand on your
business and decide whether to go on and put your money and effort into this or
not
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You better give many choices (remember bundling and
unbundling) to experiment which offer is the best one to make it the main offer
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That also gives you the final decisive answer to the
question: "Does a market really exist?"
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If something bad happen and you had to close the
business or readjust it, you won't lose anything for that you haven't spent the
major money and efforts on the business. Just close it, restructure it,
relaunch it in a more appealing form to the customers
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For this to work, I have to repeat that: you CANNOT be
sneaky about your project, be upfront and show it and presell it to real
customers
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