How David Favor validated his business

I’m a HUGE fan of validating businesses BEFORE going full-time with them.

This is an 18 minute interview with my friend David Favor who now owns a multi-million dollar company selling superfood stuff.  Now his company is a well-oiled machine, but it wasn’t always like that.  At first he was scooping product into little plastic baggies (kinda like a drug dealer):

 

An important lesson to be learned from this:

“When you’re blind-sided by the success of something you’re doing….perhaps there’s a business in it.”

Blog posted on: August 27, 2012

8 comments on “How David Favor validated his business

    1. Neville Post author

      David is a friend, and we decided to just chat one afternoon. After about 2 hours of talking (about business, life, etc…) we filmed this video.

      The place we filmed is his office at his house. That’s just a FRACTION of the books in there!

      Reply
  1. Adriana

    Hey Neville! Another great interview! I recently purchased the Sumo Business Blueprint to help me get out of the wantrepreneur stage! But I’m still having trouble… People ask me about my product daily in person! but since I’ve thrown it up on craigslist I havnt recieved one inquiry. Maybe craigslist isnt the best resource for clothing accessories?

    Any advice?

    Reply
    1. Neville

      Whoa whoa……a clothing product on CRAIGSLIST? Nope….wrong way.

      In this:
      http://www.appsumo.com/sumo-business-blueprint-live

      …..I go through how to validate that. Let’s say you’re selling Hair Feathers. You would go to fashion blogs and write articles for them. Or forums about hair fashion and write about them and point them to your website.

      You can also make a YouTube video showing how to lace Hair Feathers and then point people to your site.

      GO WHERE THE CUSTOMERS ARE! Fashion customers are NOT generally hanging out on Craigslist :-)

      Reply
  2. Adriana

    Thanks for responding!!
    Yea that is pretty much what i thought, but i figured it could not hurt to try:)
    But i am still kinda lost…
    my product is in a large genre(purses)
    but is unique in many ways
    I know that it isnt in a small niche market. But it is unique and people regularly hassle me about selling them mine:(

    Any ideas out there on how to validate???
    Neville? Stanley? Anyone?
    Any ideas help!
    I am new to this and extremley greatful for any advice!

    Reply
  3. Nate

    How would you validate an idea for something that requires a long development cycle and whose success would probably be very dependent on the quality of the implementation (or execution)?

    For example, online games. I have an idea for a game I want to build based on my own interests. I guess I could do some market research, run some facebook ads, throw up a fake site, etc., but it’s going to succeed or fail based on how fun and engaging the game is. Any comments?

    Reply

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