After playing around with businesses for a long time, sometimes I have that moment of clarity and something falls into place: If you’re playing or toying with an idea for a business. This is one of the leanest ways to begin.
a) Think of a name for the idea, and buy the URL.
b) Set up a landing page, presentation or blog. To tell the story of the idea.
c) Invest some time or money getting feedback on the idea. You can do this off your own back or more efficiently through Google and Facebook paid ads.
d) Collect, collate and analyse the data. Then work out if your idea has been validated.
At this stage, with the right data, validation and an investment deck, you should be able to raise a SEIS round of £150k and set up your business. Or use an alternative funding method, which I’ll touch on in due course.