Part 1 – Mission Design
- Imagine you see an old friend and ask you “How’s your life?” and you respond “Life’s amazing!”
- Key question is “What’s happening in your life 5 years from now?” that makes you respond so.
- Get a piece of blank paper. Fold into 4.
- Define 4 most important categories of your life: Health, Finance, Business, Relationship etc. Write it down in 4 quadrants.
- Write your goals for each category using present tense instead of future tense.
- Goal is to know your strengths, weaknesses, likes, dislikes and skills you’ve forgotten
- List down the What (past jobs, contests, clubs. you’ve joined in the past)
- List down the When (dates it happened)
- Lit down the Good (at least 3 reasons why you enjoyed those exp)
- List down the Favorite Memory (most memorable story)
- List down the Bad (at least 3 reasons why you hated those exp)
- Grade (A- Every thing was perfect, B – Most part it was enjoyable, C – It was okay, D – Didn’t really like it much, F – A terrible experience)
- Repeat the process for other experiences
Shark Bait Test
- Based on Shark Tank. Discover your ‘Unfair advantage’; what skill or asset you have that no one else does? What makes you special?
- Talk to at least 10 people and ask them what they think are your “Superpowers”.
- Talk to at least 10 people and ask them what they think are your “Kryptonite’s”.
Folding your Wings
- After finishing all the exercise, time for some fun. Fold the paper and turn it into a plane.
- This will serve as a reminder on the whys of business.
Part 2 – Development Lab
- Brain dump anything that comes out of your mind about your business idea
- Seeing your idea on hand will help you with thinking process
- Mind map using a Post-It Note (a visual representation of yoru thoughts)
- Items can be grouped together, hierarchies can emerge, and it’s not unsual to finish this exercise with a total understanding of all that noise in your head
- Set a timer for 10 minutes.
- Don’t think or edit while mind mapping.
- After 10 minutes, organize your ideas with common category or similar topics.
- Take a few minutes to discard those notes that don’t really matter.
- Combine and organize your idea into 1 sentence.
- When you get to the core, you find what really matters.
- Write 1 page
- Rewrite into 1 paragraph
- Summarize into 1 sentence that people will understand and comment
Conversation and Observation
- Time to share and request feedback for your target audience
- Dig deeper on the value of your idea until it becomes refined and mature.
- Get out of your house
- Request feedback about your business idea.
- Don’t give any opinions leading up to the idea.
- Don’t sell yourself or your idea short.
- Help. Then ask.
- Listen to understand.
- Don’t take notes or record (people may not freely express their feelings).
- Dig deeper by asking follow-up questions.
- Remember 55 – 38 – 7. Pay attention to non-verbal gestures and how they say it.
Part 3 – Flight Planning
- Define 3P – places, people and products that already serve your market.
- This will give you a bird’s eye view of the environment you want to enter.
- Create a spreadsheet with 3 sub sheets. Name each sheet as Places, People and Products
- Places – where your target audience hang out (Blogs, Forums Social Media)
- Search using “blog: keyword”, “forum: keyword”
- Copy in the spreadsheet the URL of websites you found
- People – influences of your target audience (to determine what’s working and what’s not)
- Find them on Social Media, Podcasts, …
- Copy in the spreadsheet the names, websites and special notes about them
- Products – top products and services being offered to your audience
- Find them on Amazon and product reviews
- Copy in the spreadsheet what your audience is looking for and what makes them buy that
- Create your customer avatar
- Learn more about your target audience: the problems they have, the language they use, their stories to relate and their needs to satisfy
- Create a spreadsheet with 4 sub. Name each sub Problems, Language, Anecdotes, Needs.
- Problems – Look for problems you can provide solutions either through
- 1-1 conversations
- Paid traffic (ads)
- Always dig deeper by asking “how come?” “why do you feel that way?”
- Language – learn their language to easily connect with them, gain their ultimate trust
- Find their questions, complaints, keywords on Forums, FAQs, Reviews, etc.
- Search initials “why is it” “when can I” “what are the” “what is the” “how come I” “need help” “help with”
- Anecdotes – short, interesting stories
- Find them on Forums, Podcasts
- Needs – what you believe your customers require to solve a problem
- Create two columns: 1 for problems, 1 for Needs to Solve the problem
- Potential solution you can test and run through customer validation method
- Create new column in PLAN > Needs > Elixirs (solution for every problem)
- Eliminate all but 1 row and 1 solution on your matrix.
- Sit on that idea for a day.
- Conduct a second mind mapping exercise with your new target solution as the focal point.
- 1 Page > 1 paragraph > 1 sentence.
Part 4 – Flight Simulator
- Purpose of testing anything is simple – Does this idea work?
- You’ll also receive valuable feedback from the action people take.
- You’ll also get early sales experience.
- You’ll also get money upfront.
- You’ll also be motivated to follow through and get things done.
- Get in front of audience.
- Targeted advertising (e.g. Google Ads, Facebook Ads)
- Private targeted advertising (serving ads on specific websites you collected in People and Places)
- Guest posting (writing articles on another websites)
- Forums (pick 2 – 3 forums in your database and spend at least a week posting valuable information and responding to questions before asking for anything in return)
- Groups (similar to forums, create values before asking for favors)
- “Poster Child” formula (be the poster child of an influencer)
- “Derek Halpern” strategy (people will return the favor especially if they get results from values you provide)
- Offline audiences (speak with your audience in person)
- Crowdfunding platforms (all-in-1 validation method that allows you to share your idea and raise fund in exchange for the equity or the early access of your solution).
- Hyper-target (aka hand raise).
- Narrow down you potential customers. People who are responsive to your bog post, email or surveys fall under this category.
- Interact and share your solution.
- Take a minute to learn your potential customers.
- Qualify yourself. Tell them who you’re and the reason you’re interviewing and how they’re benefiting.
- Interview and ask them what their problem is.
- Share your solution.
- Ask for the transaction.
- Ask for pre-order before creating the product.
- This is to ensure there’re buyers before you launch your beta-product (remember those who say they’ll buy are not buyers until they really buy)
What’s stopping people from copying my idea?
Nothing but here’s the difference between you and the person who hears your idea. You’re committed and you’ll actually see its completion. Most will never do because they won’t execute.
You do it. They talk about it.
Don’t be afraid to go small.
You don’t have to go big in the world to experience success. You just have to be big in somebody’s world.
There’s an expression “If you want to be a millionaire, change a million lives.” It’s only a half-truth. Your true 1000 fans give you unwavering support, appreciate your work and purchase anything you produce.