I will be publishing follow-up videos covering each of the three steps in more detail. Be sure to subscribe to make sure you don't miss out on those updates.
I followed a logic like this for one of my event idea and it worked so well, spent £55 on paid ads on Facebook and had over 60 likes and 55 pre registrations
Trying to come up with a business idea has been one of the most frustrating things because I don't want to commit to a crappy idea. This idea seems to take some of the risk out of the equation. Thanks!
Part of learning is failing and the idea is not the most important part of the business its how you follow throw with your idea. But as anything is good to do your homework before jumping in.
I have found your video very informative and directly to the point of Innovation Concept, Processing and Marketing your Ideas before you try to sell it to Industry and Markets . . . thank you, John
Incredible video brother!!! Thank you for this! Questions: 1. When creating the website on Shopify I’ve experienced troubles on adding the atc button on the password page then landing on another page that says “We haven’t launched yet, enter email” so I just added multiple areas on the funnel to capture emails. Is that okay? I even called Shopify supper and they said they can’t do that. 2. When creating product pictures how do you do that? Do you use the cad drawing images and have your lifestyle image creator photoshop some images together? 3. For the fb ads part - do you run a conversion, traffic, or lead generation camp? What ad creative do you use? A life style image from the website or do you create a animation video about your product?
Great video. I particularly appreciated the way you explained the casual 1 on 1 interview on how to improve. The open ended questions are brilliant? Thanks
Great video, but I have a question. Let's imagine I created the website and optimised its wording. But my website is going to be on page nr. 24 of a google search most likely if the niche is competitive enough. That means customers will not just stumble upon my website. What are the ways I can create the initial traffic to the website?
This is actually very inspiring. I also feel like once you actually go through this process your mindset will shift into taking your product or service more seriously as its a real thing now. How long would you recommend to wait after launching the site until you take the next step in developing your product? Or would you say this is not so much time related but more reaction based?
It's all about the reactions and feedback you get early on. If it's clear the idea itself is solid, then you can start building it even as you continue to iterate and refine your marketing message. But if it becomes clear that there is room for improvement, it's probably best to gather more reactions before building it out.
I am product testing right now with friends and neighbours and no matter how much I am trying to keep keep it unbiased, it doesn’t feel to be. I don’t feel like I should be the one doing the testing rather someone not attached to the project but I can’t afford to hire someone. Or if I did how much to charge? Before testing I am having everyone sign NBA’s, how would that work with the website idea to keep your idea safe?
A great follow-up resource is The Mom Test by Rob Fitzpatrick. Some excellent advice about asking questions in a way that get honest feedback while minimizing blind encouragement and other biases/bad-data. Regarding NDAs... while there is certainly a time/place for them, we often overestimate their importance. The 'idea' itself isn't nearly as important as the execution of the idea. So, common advice is to worry less about "keeping your idea safe" and worry more about gathering useful feedback and then, if it's a winner, executing on the idea. The number of excellent ideas is endless. The real challenge is refining, improving, and launching something to the world.
hey! I really like you explanation, very engaging and clear! How did you become such a confident and effect speaker? I want to improve my presentation communication ability too?
I appreciate the kind words. I think I've filmed over 100 videos at this point, and simply gaining experience has helped a lot. Started heavily scripted, later tried a teleprompter, but in the end, just filming more videos has made the entire experience more natural and casual. Hoping to continue improving as well.
Hi Rick, Really great video thank you. My idea is for an e-commerce store with multiple products. With your method to validate an idea how would you go about this in this setting?
Do the products already exist? If so, can you start without making a major purchase (for example, buying only as needed to meet orders)? If the products don’t exist, could you create product pages as if they already exist and then test to see how many people attempt to buy (when they click, you could then explain that the product is not yet available, but have them add themselves to a notification list)?
I found it very useful, with testing it out on a website, But I have a question, I want to have my own website and sell products that already exist, but the only way I see is to do this by doing a big investment first, because I cannot have a website and nothing in stock right? the next problem I have is that it is not just about 1 product but 20-100 products I want to have on my website, what would your advice be for me? And Is it possible to have an online chat with you? Or some more help specific about what I am trying to make. Thank you in regards!
You have at least two options. First, you can find a way to have products drop-shipped by other suppliers without you having to own them beforehand. Second, you can do what Zappos did and set up the website and only buy products as orders come in. In their case, they listed shoes for sale on their website that were available in local shoe stores and, until they validated the business idea, just went to those stores and purchased the shoes to fulfill individual orders. Early on it's not about making a profit on every sale, it's about validating that the business will work to confirm you aren't over-investing. Then, scale up inventory and logistics as demand is validated by real customers.
A book like Sprint by Jake Knapp talks about how to "solve the surface first" when exploring new solutions. I have a summary of it here on the channel, but you may just want to pickup a copy of the book. Short answer: YES, you can test the merits of an invention before fully funding/building it.
As best as I understand it, "fake it till you make it" is predicated on pretending to be someone or something to manufacture a sense of legitimacy where none exists, such as feigning expertise in an area when unqualified, in hopes of leveraging that to achieve success. This approach is about offering a vision of a solution to a perceived problem to find out if customers are interested. That way, you can avoid building something that people may turn out to be uninterested in buying. IMHO, it's a significant distinction.
Isn’t that what anyone who’s ever been released from a training environment is doing as well? Faking that they know what they’ve been hired to do before they fully know what they’ve been hired to do? And In today’s day in age with information so readily available online, why doesn’t continual education include the layman 🤔? So much is learned outside of a classroom setting these days. By this logic, anyone learning anything can be viewed as “faking” until a level of mastery is achieved?
Great information I'm in the process of a new product have an prototype and using it. I have the. Domain Instagram. Trying to see if the public is interested.
I will be publishing follow-up videos covering each of the three steps in more detail. Be sure to subscribe to make sure you don't miss out on those updates.
I followed a logic like this for one of my event idea and it worked so well, spent £55 on paid ads on Facebook and had over 60 likes and 55 pre registrations
Trying to come up with a business idea has been one of the most frustrating things because I don't want to commit to a crappy idea. This idea seems to take some of the risk out of the equation. Thanks!
Yes, and once you get started you'll learn a lot about alternative paths even if the original idea doesn't pan out.
Yes, same for me. We just need to start doing sth, everything else will follow its way.
Part of learning is failing and the idea is not the most important part of the business its how you follow throw with your idea. But as anything is good to do your homework before jumping in.
Nice Episode Rick. Thank you for sharing. Greetings from Germany :)
I'm glad you found it helpful!
I have found your video very informative and directly to the point of Innovation Concept, Processing and Marketing your Ideas before you try to sell it to Industry and Markets . . . thank you, John
I’m glad you found the video informative!
Great advice, will definitely be taking it all on-board. Thank you.
Damn your video quality and audio are stellar. (And content too).
Thanks, glad you like the quality :)
Incredible video brother!!! Thank you for this!
Questions:
1. When creating the website on Shopify I’ve experienced troubles on adding the atc button on the password page then landing on another page that says “We haven’t launched yet, enter email” so I just added multiple areas on the funnel to capture emails. Is that okay? I even called Shopify supper and they said they can’t do that.
2. When creating product pictures how do you do that? Do you use the cad drawing images and have your lifestyle image creator photoshop some images together?
3. For the fb ads part - do you run a conversion, traffic, or lead generation camp? What ad creative do you use? A life style image from the website or do you create a animation video about your product?
I just finally have a business idea and I want to test it, you really gave me some nice hints. Thank!
Great hands-on tips! Gonna implement it on my business! Thanks!
Really useful practical advice, thanks Rick. Also thanks for book reco. You've made them a sale!
Glad you found the advice useful!
This was so helpful thank you. I’m drafting blue prints for a factory for my product and I am concerned that it may not work out
Thanks Rick. Really useful for me right now.
Awesome, glad to hear it Nate!
Hey Rick! Thanks for the video! Greetings from Switzerland 🇨🇭
Hi there, glad you enjoyed the video!
Great video. I particularly appreciated the way you explained the casual 1 on 1 interview on how to improve. The open ended questions are brilliant? Thanks
Great video, but I have a question. Let's imagine I created the website and optimised its wording. But my website is going to be on page nr. 24 of a google search most likely if the niche is competitive enough. That means customers will not just stumble upon my website. What are the ways I can create the initial traffic to the website?
Thank you!
This is actually very inspiring. I also feel like once you actually go through this process your mindset will shift into taking your product or service more seriously as its a real thing now. How long would you recommend to wait after launching the site until you take the next step in developing your product? Or would you say this is not so much time related but more reaction based?
It's all about the reactions and feedback you get early on. If it's clear the idea itself is solid, then you can start building it even as you continue to iterate and refine your marketing message. But if it becomes clear that there is room for improvement, it's probably best to gather more reactions before building it out.
@@RickKettner Makes sense, thanks! This sounds like a great way to really make sure your effort is put towards something worth while.
With the call to action button is it a good idea to direct them to a kickstarter campaign?
amazing! thank you!
Thank you from🇮🇳 india 😊
I am product testing right now with friends and neighbours and no matter how much I am trying to keep keep it unbiased, it doesn’t feel to be. I don’t feel like I should be the one doing the testing rather someone not attached to the project but I can’t afford to hire someone. Or if I did how much to charge? Before testing I am having everyone sign NBA’s, how would that work with the website idea to keep your idea safe?
A great follow-up resource is The Mom Test by Rob Fitzpatrick. Some excellent advice about asking questions in a way that get honest feedback while minimizing blind encouragement and other biases/bad-data.
Regarding NDAs... while there is certainly a time/place for them, we often overestimate their importance. The 'idea' itself isn't nearly as important as the execution of the idea. So, common advice is to worry less about "keeping your idea safe" and worry more about gathering useful feedback and then, if it's a winner, executing on the idea.
The number of excellent ideas is endless. The real challenge is refining, improving, and launching something to the world.
How do you create a website if the product doesn't exist? If you don't have the product in hand, you can't take pictures for the website or ads.
hey! I really like you explanation, very engaging and clear! How did you become such a confident and effect speaker? I want to improve my presentation communication ability too?
I appreciate the kind words. I think I've filmed over 100 videos at this point, and simply gaining experience has helped a lot. Started heavily scripted, later tried a teleprompter, but in the end, just filming more videos has made the entire experience more natural and casual. Hoping to continue improving as well.
@@RickKettner and you will!! Thanks for the nice content 👌
It's just practice, really. I did that too, and well..Now I'm also confident. You can do it too!
Hi Rick, Really great video thank you. My idea is for an e-commerce store with multiple products. With your method to validate an idea how would you go about this in this setting?
Do the products already exist? If so, can you start without making a major purchase (for example, buying only as needed to meet orders)? If the products don’t exist, could you create product pages as if they already exist and then test to see how many people attempt to buy (when they click, you could then explain that the product is not yet available, but have them add themselves to a notification list)?
I found it very useful, with testing it out on a website, But I have a question, I want to have my own website and sell products that already exist, but the only way I see is to do this by doing a big investment first, because I cannot have a website and nothing in stock right? the next problem I have is that it is not just about 1 product but 20-100 products I want to have on my website, what would your advice be for me? And Is it possible to have an online chat with you? Or some more help specific about what I am trying to make. Thank you in regards!
You have at least two options. First, you can find a way to have products drop-shipped by other suppliers without you having to own them beforehand. Second, you can do what Zappos did and set up the website and only buy products as orders come in. In their case, they listed shoes for sale on their website that were available in local shoe stores and, until they validated the business idea, just went to those stores and purchased the shoes to fulfill individual orders.
Early on it's not about making a profit on every sale, it's about validating that the business will work to confirm you aren't over-investing. Then, scale up inventory and logistics as demand is validated by real customers.
I have a question could you quite possibly test out an invention?
A book like Sprint by Jake Knapp talks about how to "solve the surface first" when exploring new solutions. I have a summary of it here on the channel, but you may just want to pickup a copy of the book. Short answer: YES, you can test the merits of an invention before fully funding/building it.
good
Is this actually teaching fake it till you make it?
As best as I understand it, "fake it till you make it" is predicated on pretending to be someone or something to manufacture a sense of legitimacy where none exists, such as feigning expertise in an area when unqualified, in hopes of leveraging that to achieve success. This approach is about offering a vision of a solution to a perceived problem to find out if customers are interested. That way, you can avoid building something that people may turn out to be uninterested in buying.
IMHO, it's a significant distinction.
Isn’t that what anyone who’s ever been released from a training environment is doing as well? Faking that they know what they’ve been hired to do before they fully know what they’ve been hired to do? And In today’s day in age with information so readily available online, why doesn’t continual education include the layman 🤔? So much is learned outside of a classroom setting these days. By this logic, anyone learning anything can be viewed as “faking” until a level of mastery is achieved?
Doug Demuro if he was a businessman
Your blurred transitions between screens is maddening and distracting. Throws my eyes in and out of focus, making it hard to consume your content.
Repent of your sins and turn to Jesus Christ for he died for all of us while we were still sinners. He is coming back soon.
Great information I'm in the process of a new product have an prototype and using it. I have the. Domain Instagram. Trying to see if the public is interested.
Nice!
How are things going?