April 13, 2022
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After our podcast ranked in the top 20 in multiple countries around the world, we knew we could turn it into a business. Wanna know how we did it?
Do you have a killer idea for a product, service, or business? Maybe you have a passion project or side hustle you want to start monetizing?
In this snack-sized episode, we are going to share with you four super easy ways to rapidly test out the potential for your idea before you spend a whole bunch of time, money, blood, sweat, and tears prototyping and getting something off the ground that might not resonate with your ideal customers.
Ask yourself, is the idea authentic to you? Is your idea authentic to you as a person or what you do professionally? Would you use it? Does it feel good or natural to you when you talk about it? Is there a passion side when you think about it? Does it light your fire? Does it give you a sense of purpose? Does it fulfill a real-world purpose that’s important to you? These questions are really important to check out if your idea is authentic to you. Because when it is, that’s really when you can start exploring the next step.
Believe it or not, if there is, that’s actually a good thing. While it’s awesome to have a completely original idea. It’s also doubly hard when you are a pioneer or a category definer. Because if there’s something similar out there, then, first of all, you know that there’s a guaranteed audience and guaranteed demand for your product or idea. So the hard work in creating the category has already been done.
Now, your job is to differentiate your idea and make it better than the competition. You can differentiate and make it unique on a bunch of different levels. It could be simply by having a unique brand. A very distinct look, feel style, and tone of voice for your product idea. It could be how you package up and deliver your product. It could even be on specific features of your product. And it might even just be on price. There are a lot of ways to make your product unique.
Is it an industry genre or category of hot growth trend right now? Does it fit into the zeitgeist? Is it fitting into what’s exciting and what’s happening in the world right now? Does it align with broader societal trends? Think about diversity, sustainability, and the environment. For example, if your product idea taps into a movement or a major shift in our world, it’s a clear sign you’re onto a winner.
This is arguably the most important thing to ascertain before you embark on building your product or business idea. And the best way to do this is to validate your assumptions. Because you might have a whole bunch of assumptions in your mind right now, an assumption of who the ideal customer your product is for, an assumption about the problem that you intend to solve with your product, even an assumption about what your product could look like.
Thus, we strongly recommend interviewing as many people as possible who fit your assumed ideal customer to really understand and get under the skin of what their needs are, what motivates them, and what opportunities there are to serve them.
That’s our four rapid ways to test if your product idea has true potential for success before you prototype and spend a bunch of money on it. We’re here every week to teach you how to turn your unique skills, and your zone of genius into sellable desirable digital products. Digital products that you can actually package up, market, and make additional income from.
See you next time and let’s get growing!
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