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- 😳 The WRONG Way to Start a Business. Are You Doing This?
😳 The WRONG Way to Start a Business. Are You Doing This?
😎 AVOID these mistakes! Plus, a VIDEO 📺
Hello! 🙋♂️
👀 In today's newsletter:
The right way and wrong way to start something.
In Partnership with Bubble.io
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🔍 This is going to be a quick one today. The right way vs. wrong way to start.
I talk to people daily that are approaching their startup incorrectly.
Let’s discuss the right way and wrong way to move forward once you have an idea.
📃 Here are the steps that most of us take, and this is INCORRECT.
1️⃣ As soon as we get an idea, we want to start building.
✅ We feel like we’re making quick progress.
✅ We think that if we build something, the customers will soon come.
2️⃣ We spend money, early on. This is unnecessary.
✅ We start to order samples. We start paying people to build a website.
✅ We feel we have to spend money to make money, right?
3️⃣ We start advertising (more money spent).
✅ We feel we have to spread the word, right?
✅ We know that advertising pays if done correctly.
4️⃣ Sales don’t start happening. 🤷♀️
✅ Hmm… something must be off with our messaging, or targeting, or our offer etc.
5️⃣ We double down on promotion and advertising.
✅ We don’t see the positive results from these efforts, so we go back through this process over and over.
✅ We eventually give up or run out of money.
📺 Before I show you the CORRECT WAY to launch something… Watch this video we made to help explain the process!
🤔 Well, what is the RIGHT WAY to do it then?
Startups fail because no one wants what they are selling.
So, you have to prove that people want your product before you spend any money developing it!
📃 Here are the CORRECT steps. This is the gameplan.
1️⃣ Determine your target market.
✅ Who would benefit the most from what you are creating?
2️⃣ Determine where they hang out.
✅ Where do they hang out online and offline? Go there and start talking with them.
3️⃣ Find out what frustrates them.
✅ Ask them about their frustrations in the market you are entering. Are you hearing the same type of complaints over and over?
✅ Does your product or solution seem to solve their problems?
4️⃣ If your product isn’t a fit for their problems, make some changes.
✅ Iterate. Modify your product to fit the demand you have uncovered.
5️⃣ Get their feedback.
✅ Talk to the target audience again and present your solution. Are you hearing excitement and willingness to buy? Are they still apprehensive?
6️⃣ Move forward.
✅ Based on their feedback you should…
⭐ Go back to step 4 if your product isn’t a perfect fit.
⭐ Create a landing page and start telling people about your solution if it is the right fit for their problems. Explain what you’re working on, gather email addresses and expressions of interest… if they are super eager to buy, take preorders.
⭐ Use easy no-code tools like Bubble or even Google Forms to create your simple landing page.
📢 OPPORTUNITY: Feature Your Startup in Front of 200,000 People!
😻 We are working on a really simple way to highlight what you’re working on.
Details are coming ASAP… we can highlight you in the newsletter and more, to help you get traction.
👇 Also - our accelerator is below if you are really serious about pursuing your idea. 😉
That’s it for today. I hope this helps you get moving!
⏩ Don’t forget to forward this email to your friend who likes startups too.
⌨ Reply to this message and let me know what you're working on!
🧑🤝🧑 Follow along on social media for a daily dose of startup advice. Social media links are below. 👇 👇 👇
JOIN OUR DISCORD! It’s free and people are online right now to talk to!
Take care!
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