Episode 628 | The 5 PM Pre-Validation Framework

Startups For the Rest of Us

Rob Walling

Management, Entrepreneurship, Business, Marketing

4.8 • 792 Ratings

🗓️ 4 October 2022

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode 628, join Rob Walling on a solo adventure where he dives into his newest framework. The 5 PM Pre-Validation Framework is a helpful way to evaluate different startup ideas through a set of criteria to gauge the size of the opportunity. Want to download the PDF version the the 5 PM Pre-Validation Framework? Join the Startups For The Rest Us Mailing List, and we'll send you the link in the first email. Look for the orange email opt-in widget on the page. Topics we cover: 3:37 - Why is it called The 5 P.M. Idea Validation Framework? 4:06 - Problem 6:23 - Purchaser 8:17 - Pricing Model 9:00 - Market 12:48 - Product-Founder Fit 13:21 - Pain to validate the product 13:59 - Evaluating two business ideas through Rob’s 5PM framework Links from the Show: SaaS Ideas to Build Right Now, Before Someone Else Does Jon Yongfook's Tweet MicroConf Connect If you have questions about starting or scaling a software business that you’d like for us to cover, please submit your question for an upcoming episode. We’d love to hear from you. Subscribe & Review: iTunes | Spotify | Stitcher

Transcript

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0:00.0	This week, I'd like to make the announcement of our early lineup for MicroConfUS 2023.
0:05.8	This is in Denver, Colorado next April.
0:08.6	It will be co-hosted by Leanna Patch of Punchline Copy.
0:12.8	We'll have talks from Dev Basu, the CEO of Powered by Search, Patrick Campbell.
0:18.1	It's the founder of Profitwell, currently the chief strategy officer of Paddle.
0:22.1	And we will have our special guest, Syed Balke, the CEO of Awesome Motiv.
0:26.9	In addition to myself, co-hosting with Leanna, and I'll be doing a talk.
0:30.7	If you want to hang out with a couple hundred non-venture track indie SaaS founders in Denver, Colorado.
0:37.1	Next April, head to microconf.com.com slash growth.
0:40.3	It's going to be an amazing time.
0:42.1	I hope to see you there. Welcome back to sort of for the rest of us.
1:00.6	I'm your host, Rob Walling.
1:01.8	This is the podcast for bootstrapped and mostly bootstrapped SaaS companies.
1:05.9	I want to build incredible businesses without sacrificing their freedom, their purpose,
1:10.7	or their relationships
1:11.4	along the way. I have what I consider an interesting episode today. I'm going to dive in
1:16.5	to an idea validation framework I'm calling 5 p.m. because it is after all 5 o'clock somewhere.
1:24.3	So this is not about happy hour, nor is it about drinking mescal and
1:28.9	bourbon, as much as I like to do those things. It's a framework that looks at startup ideas and
1:34.3	uses different criteria and different lenses through which to view them. So I'll get into what
1:39.3	5 p.m. stands for in just a minute. I did want to thank everyone who has left a rating in Apple
1:46.4	podcast. Since I started my drive to 1,000 ratings, we have jumped a substantial number,
	...

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