D
DeletedUser63433
Guest
Hi Fastlaners,
If your like me, you've probably failed before. I actually wanted to kill myself the first time I had a business go under.
Spoiler alert... I'm still alive.
Now I am fast-laning with my new approach to online business. Over the past 4 years I have tried and failed. Now, I have a better understanding of business and how to go about market research, brand creation, and product launching.
However, I don't want to just launch anything and bust my a$$ to make it work. I want to enter the market in a way where I can really build something valuable.
Think RX bar: great niche, entered the market before anybody else sold for millions.
So how do I plan to find my gap in the market and build the business of my dreams in an era where there are soooo many online products already?
Well I read the book "crowdfunded" and have been really interested this past year on product validation. I figured out that I can't create a product, put the money and time into it, and expect to see it blossom. This is because the online space is so saturated. Even if I pursue something with a higher barrier to entry, it still can fail.
So what if the business fails? All that time went to waste. From experience, it takes at-least 3-4 months from concept to creation to get a physical product business up and running.
So I am limited to trying out 3 businesses a year if I am lucky and 3rd time is not always the charm.
I like Gary V's concept of using is marketing agency as a "machine" for launching new businesses.
I am starting to do the same thing! My idea is to cut the time spent on seeing if a business opportunity will work down from 3-6 months, to 1 month. Now I go from 2-3 businesses a year to 12.
This of course all starts with the idea/concept. I read another book I highly recommend called "choose yourself" and I took some lessons from that book to help me come up with better ideas.
My basic way of going about this is:
1.) Hire a product mockup specialist. Someone who can render 3d photos of a physical product based on a cad design. Something that looks almost like a real product.
2.) Hire product designer. Someone who can quickly draft a product from my napkin sketch.
3.) Landing page creation, with email signup and checkout page for a $1 reservation for my product. So If they like the product they can put down a $1 today and get 35% off when it's launch time.
4.) Start with online forums and ads, to drive traffic to site.
Of course this is going to vary, perhaps for certain niches that I am interested in but not super knowledgable about, I will do extra qualitative research to find new features to add.
People have good ideas!
So what does everyone think about failing fast?
What do you think about validating your product or business idea before putting all the time and money into it?
Does anybody have resources for me to checkout?
Does anybody have a business idea they have been looking to try, but not sure where to start to get it going?
If your like me, you've probably failed before. I actually wanted to kill myself the first time I had a business go under.
Spoiler alert... I'm still alive.
Now I am fast-laning with my new approach to online business. Over the past 4 years I have tried and failed. Now, I have a better understanding of business and how to go about market research, brand creation, and product launching.
However, I don't want to just launch anything and bust my a$$ to make it work. I want to enter the market in a way where I can really build something valuable.
Think RX bar: great niche, entered the market before anybody else sold for millions.
So how do I plan to find my gap in the market and build the business of my dreams in an era where there are soooo many online products already?
Well I read the book "crowdfunded" and have been really interested this past year on product validation. I figured out that I can't create a product, put the money and time into it, and expect to see it blossom. This is because the online space is so saturated. Even if I pursue something with a higher barrier to entry, it still can fail.
So what if the business fails? All that time went to waste. From experience, it takes at-least 3-4 months from concept to creation to get a physical product business up and running.
So I am limited to trying out 3 businesses a year if I am lucky and 3rd time is not always the charm.
I like Gary V's concept of using is marketing agency as a "machine" for launching new businesses.
I am starting to do the same thing! My idea is to cut the time spent on seeing if a business opportunity will work down from 3-6 months, to 1 month. Now I go from 2-3 businesses a year to 12.
This of course all starts with the idea/concept. I read another book I highly recommend called "choose yourself" and I took some lessons from that book to help me come up with better ideas.
My basic way of going about this is:
1.) Hire a product mockup specialist. Someone who can render 3d photos of a physical product based on a cad design. Something that looks almost like a real product.
2.) Hire product designer. Someone who can quickly draft a product from my napkin sketch.
3.) Landing page creation, with email signup and checkout page for a $1 reservation for my product. So If they like the product they can put down a $1 today and get 35% off when it's launch time.
4.) Start with online forums and ads, to drive traffic to site.
Of course this is going to vary, perhaps for certain niches that I am interested in but not super knowledgable about, I will do extra qualitative research to find new features to add.
People have good ideas!
So what does everyone think about failing fast?
What do you think about validating your product or business idea before putting all the time and money into it?
Does anybody have resources for me to checkout?
Does anybody have a business idea they have been looking to try, but not sure where to start to get it going?
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