From Concept to Reality: Building and Validating Your Business Idea

This Is Small Business

How do you transform an everyday problem into a product that people want to buy? Just ask Ray Philips, the CEO of SoapSox, who turned children’s bath-time struggles into a product that resonated with so many people. Ray shares how he validated his idea and navigated the bumps throughout his entrepreneurial journey. And if you're still in the brainstorming stage, Morgan DeBaun, the CEO of Blavity, has you covered with her DRIP method, a decision-making framework designed to help you turn your ideas into actionable steps. Whether you're stuck in the ideation phase or just need a motivational pick-me-up to ride the wild rollercoaster of entrepreneurship, this episode will give you the confidence and clarity to turn your next big idea into reality.

Learn how to leverage constructive criticism, stay balanced through the highs and lows of entrepreneurship, and push past the doubt to start or build your business.

In this episode, you’ll hear:

(3:00) How Ray Philips turned a bath-time challenge into a business, and what made him launch his entrepreneurial journey.

(5:12) Morgan DeBaun breaks down her powerful DRIP decision-making framework which can help you come up with ideas and turn them into real, validated business opportunities.

(8:32) How to refine your product using feedback that matters—and more importantly, how to filter out the noise that could throw you off track.

(10:48) Ray talks about funding his business and Morgan shares how to handle the inevitable highs and lows of entrepreneurship while keeping your vision alive.

(14:26) Setbacks are part of the journey. Here’s what to do when your first big obstacle hits—and how Ray and Morgan turned their first major setbacks into fuel for success.

(17:31) How Ray pushed through tough times and scored a coveted spot on Shark Tank, and what it took to get there.

(21:36) If you’re battling self-doubt, stick around—this advice might be the boost you need to keep chasing your entrepreneurial dreams.