Today I livestreamed the process of validating geodatamarket.net. This focus was chosen based on a quick twitter poll with 5 votes. It’s not a lot of data to go on but yet still felt like pretty clear feedback.
I set up google and facebook ads for $5/day, set up email capture on the site and also wrote a reddit post.
Why are we doing this? To test the idea as quickly and cheaply as possible. If it doesn’t resonate with anyone, then drop the idea and shut the site down and move on to the next idea.
So far I’ve spent $11 on a domain, and in the end probably about $20 on advertising, for a total of $31. Time-wise I spent 2.5 hours yesterday building the site and 1 hour today doing some marketing. In a day or two, I’ll look at the ad statistics and review the reddit responses, if any. This will mean a total of about 4.5 hours of work.
It’s very arguable that I didn’t need to build the website or buy the domain and thus cut the investment down to $20 and 2 hours. So very roughly that would cut the cost in half. Next time!
Here’s the live stream: