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ever wondered what certain business terms mean are you thinking about starting a business but the jargon is about puzzling you well don't worry I'm here to help along with a little stone-age friend of mine welcome to speak like chef where we'll get to grips with business terms that might be given you belief and at the same time through an a few entrepreneurial and what's a Western this week we are going to check out the water validation validation is a noun and it means to check the validity or accuracy of something and business terms it means proving a market need Laci you've got your business idea and you think it's a belter you may think that but you need to find out if the rest of the world agrees take your idea on to the next stage and find out if there is a need or demand for it from the market after all what's the point and coming up with an idea that no one wants once you have come up with your idea and proved that it's worth pursuing everything else is achievable with a lot of hard work so how do you follow the your idea firstly do your research to make sure someone else hasn't got there first if they have it doesn't mean that your idea is dead in the water but it might mean that you have to rethink I come up with something slightly different assuming that you are good to go the next step is to see if there is a need for your product idea or service talk to people do plenty of market research and see if your idea is met with interest and approval make sure your audience don't spare your feelings run them to be as honest and open with you as possible they aren't doing you any favors by sugarcoating constructive criticism after always the plan and you're getting a lot of positive feedback you can really start to make your dream a reality figure eight a business plan get investment start running your own business I mentioned earlier that my little storage friend was going to help me explain to you what faletia needs we've already met rob the rockstar and previous videos and you remember that he was one of the first humans to monetize his business but let's take a step back and see what happened even before he got to that stage it wasn't easy trying to catch and cook your dinner back in the Stone Age and drab realized one day that the hunters would do better if they had decent tools so he had an idea and designed the perfect tool to help catch and kill deer and moths but before he made them he asked the hunters if his idea would really help them he wanted to make sure there is a demand for his business of course they knew their job would be much easier and he followed Ishii to his idea Rob's proof everyone needed that is not just to these startups who need to get validation every business no matter how small needs to know there is a market out there for if you have people keen to use your product your business is already on its way to becoming a success I hope that's clear things up for you don't forget to let me know what you think before you go on do you fancy taking the concept of validation one stage father I'm confident there is demand for a series of videos like sweet blood chef I would like you plus write you to help me validate the concept if you agree with me simply hear the subscribe button on my youtube channel there you will that's validation at work check out next week's speak like chef and don't forget to Like comment and subscribe [Music] you