“A lot of people think that crowdfunding is the first step, but there are obviously a lot of things that need to happen before that.”
Do you only have a couple hours a day outside of your job and family to work on your own stuff and are worried if you are on the right track?
Are you living on a tight budget and cannot afford to spend time and money without knowing if your project will succeed?
If you believe that you have the perfect product idea and haven’t spoken to a single person about your idea, or tried to sell your idea to someone, you’re in for a rude awakening.
YOU WILL LIKELY BLOW IT!
Pat Flynn made that mistake. Yup. THE Pat Flynn of the Smart Passive Income Podcast.
Pat wasted $15,000 and over 3 months of his time and emotional energy building two different WordPress plugins that literally no one would pay for. Nobody wanted it.
Most people think all it takes is a great idea to launch a business.
In fact, most of the people that call me, asking for my help to launch their product that they have spent YEARS and tens of thousands of dollars developing, I have to turn down…
…because they haven’t validated their idea.
30+ years ago we had to go to libraries to do research to make sure your business would work was very difficult.
With the interwebs, validation is fast and easy IF you know what you are doing.
Pat Flynn learned from his previous mistakes, found and talked to potential customers first, validated his next plugin, The Smart Podcast Player, which is now making hundreds of dollars per day.
In this episode, you will hear what Pat did to guarantee the success on his third try and what you can do to maximize your chances on your first.
If you are an experienced entrepreneur who has taken their lumps, then this podcast will bring back some memories and be a great reminder of how to do things the right way.
If you have never started a business and are looking to Crowdfunding to get going, then you have to listen to this episode.
I invited Pat Flynn onto the show after reading his bestselling book: Will it Fly. In Will it Fly, Pat discussed product validation as a critical first step before you waste your time and energy launching something that nobody wants.
You will learn:
- Exactly what validating a business idea is and why it is so important
- How a successful Crowdfunding campaign is NOT the validation you should be looking for… you have to have it long before you launch
- How to find out if people will buy your product before you spend thousands of dollars in development
- 3 key questions to ask potential customers to validate your idea
- How to get great ideas for your next business that are guaranteed to work out