When it comes to starting a new business or rolling out a new product, many entrepreneurs waste too much time and too many resources only to find out that their idea isn’t viable.
On the latest Black Entrepreneur Blueprint podcast episode # 512, Jay gives you a few simple steps to test your business idea or product idea without going broke.
LISTEN TO THE FULL EPISODE
BLACK ENTREPRENEUR BLUEPRINT SHOW NOTES – EPISODE # 512
Become A Mad Scientist:
You have to have the mindset of a scientist and systematically test your business or product ideas in a way that is not detrimental to your entire business.
PROMO www.INeedMoreLeads.PRO
Pre-sell – Test to see if a product or service sells by making pre-sales. If the product or service sells fulfill it, if it doesn’t you haven’t lost anything. Some of the easiest things to pre-sell are things that you do live like a workshop or a consultation. So if nobody buys the product or service, you haven’t wasted time creating the product.
Make Sales (True testing is when people go into hip pocket national)
Making a few sales is the first and arguably best way to validate your product. There is nothing more important than customers seeing your product’s value and exchanging money for it. Until people pay you, your business is nothing more than a collection of assumptions. Getting to know potential customers is important, but you can’t build your business until people pay you.
NOTE: You can also start by selling other people’s products or services that already exist and replace them with yours once you have proof of concept (affiliate sales or reselling).
Create A Beta Group
Get a group of people to test your product or service at a discount or free to get feedback. You can also charge people to be in your group and make money while learning what people want. You can place ads on social media to join the beta group and lay out the conditions and rules of the group. Example: Brand Builder Academy which turned into the program BBA Elite
Quiz Your Audience
Identify your target audience and have them take a short quiz and ask them what they want and need from a product like yours. Do this by using quiz software and posting on social media or to your database (if you have one)
