Need Help Coming Up With A Fastlane Idea? Read This...

[NewsletterScott]

Hi fastlaners,

I wanted to share this simple 7 step process to coming up with an effective fastlane idea (This specific thought process hit me this morning, and I couldn't keep it to myself). I hope you find this process useful to successfully coming up with a fastlane idea that sets you up for life 3-5 years from now.

1) Start with a specific market
(E.G. Affluent Moms who are 28-40 with up to 3 kids under the age of 5)

2) Figure out the size of that market and what that markets needs/wants/desires are, how they think, and what they already believe
(E.G. This market is challenged with XYZ, and needs help with ABC....they believe that their baby is the center of their world, and they want to do whatever they can to set it up for the best possible success in the future)

*This is where doing the proper amount of due diligence comes into play that Billy Murphy (UN on Forum: Snowbank) illustrated so beautifully in his blog post "How To Create A Business That Prints Money"
Link --> http://foreverjobless.com/how-to-create-a-business-that-prints-money/

*THIS IS WHERE MOST ENTREPRENEURS SCREW UP...and pay dearly with wasted TIME and MONEY...don't be one of those entrepreneurs....Do your due diligence!

3) Create the solution or product that directly addresses one of needs/wants/desires based on your due diligence
(Multiple possibilities...will depend on what you discover doing your due diligence)

*Make sure that the idea scales to millions if you really want to hit it big.

(The "S" in CENTS --> Fastlane Commandments)

4) Put together a solid front end and backend marketing funnel that scales to millions
(E.G. Front End Process: Traffic --> Blog --> Click Banner on right side panel --> Land on capture page --> Fill out form (to generate leads)

(E.G. Back End Process: Autoresponder process that follows up with the leads to help you sell your product...or that generates a phone call to a call center telemarketer to help sell your product) <-- multiple ways to structure this process...this is just ONE example)

5) Create the front end advertisements that will help you drive traffic (assuming your biz is 100% online-based)
(E.G. Google Adwords....Facebook Ads......Banners to create for large scale media buying....Ads being inserted into solo ads via email.....Magazine Ads driving traffic to your website funnel process you created in Step #4)

If you are an offline-based company (E.G. You create a food product that is sold in health food stores across the country...you will approach advertising and distributing your product differently than a 100% online based company - this can be talked about in a totally new thread. For this 7 step process I came up with, it is assuming you only wanted to start an online-based company)

6) Buy the media that touches that specific market + insert the ads you created in step #5
(E.G. Make sure that you don't screw this part up. When doing your due diligence, you should have found the specific touch points you would leverage for this step.)

(E.G. If you wanted to create an ebook that helps single men between the ages of 18-30 build more muscle, during "due diligence phase" you should have found the websites you can put your banner on to drive traffic to your specified landing page)

7) TAKE ACTION!!! Measure, analyze, tweak and optimize the entire process until it becomes profitable
(E.G. This takes time, but if you have committed to the process and have given yourself an ample amount of time to succeed...you will)

Highly Recommended Read: "The Dip" by Seth Godin...He talks about the psychology of going through this "dip process" in your business and coming out on the other end as a success.

----

FINALLY...

I know this goes without saying but...Make sure your idea doesn't violate any of the "Fastlane Commandments"
Need
Entry
Control
Time
Scale

If you feel I am missing anything in this simple 7 step process....please add to the conversation in this thread. I am looking forward to the discussion!

Also - if you found this content really valuable, and you plan on using it to help you along your fastlane business journey - please "Speed" this post! Thanks in advance!

Best,
Scott

 

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