Part 2 -- The 7 Day Startup for Solopreneur Service Providers
In the last episode we began to cover Dan Norris' awesome book "The 7 Day Startup" and applying it to we who are coaches, consultants, healers, and other solopreneur service providers. In this episode we continue the book and cover the actual 7 day formula.
For Part 1: http://goo.gl/zkWodX
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Notes:
Of course, you don’t have to do it in 7 days… but I hope this video (or reading the book) will inspire you to launch sooner, so you can really know what the market is wanting, then adjust from there with real client data!
Since 5 years ago before this book came out I’ve been telling my clients that any viable services business can be launched in 2 weeks. This book provides a great outline of those steps.
For a nice balance between thoughtfulness and practicality, use the 7 day formula and do it in 21 days. 2 days for each formula, 1 day rest between each. That’s launching a test in 3 weeks.
If you’re working full time and only building your business in your spare time, then do a 7-week launch… 1 step each week.
Step 1: Come up with your idea
“If you only spend one day on your idea, you’ll be more open to changing it if doesn’t work out.
You might already have some ideas— you might hear people complaining about a pain point, or you might have to start cold-calling people to find out what you can work on.”
Niche Interivews: http://goo.gl/X8IUUH
What makes a good idea? Dan named 9 things but many of them I don’t agree with, e.g. it can operate profitably without the founder… something you can sell… etc.
I only agree with a few of them for solopreneur service providers:
Imagine yourself doing the daily tasks of that business. Doing the actual service. If you don’t like what you see, it’s not a good business idea. (Remember you can outsource the side aspects of your business like the technology, outreach, bookkeeping, etc... but you’ve got to love doing the MAIN service.)
“Tap into pain or pleasure differentiators. Everyone will tell you to have a “unique selling proposition” or a “differentiator.” What they don’t tell you is it’s not enough to just be different. All that matters is what your customers care about.” George Kao’s business taps into the emotional pains of not having enough business revenue, and not being honest in marketing, of feeling slimy.
Solving Pain = necessity
Achieving Goal = luxury
It is easier to market necessities than luxuries
“Choose an idea that you can launch and modify quickly. Then when you start getting real data from paying customers, you can innovate and get the product just right.” For example, a 5-module course with live Q&A or coaching calls with you. Just write out the outline of the course, and build it module by module as people take it. Better quality anyway because you will be surveying them after each module, to build the next module more relevantly.
People might be saying that your idea is great, but look at whether or not they are currently paying for a solution to the same problem. “Steve Jobs said ‘People don’t know what they want before you show it to them.’ That’s correct but also extremely dangerous advice for a new entrepreneur. My first business failed. I’m not Steve Jobs. Playing the visionary is a privilege reserved for second- and third-time entrepreneurs. It’s fun, but it’s fraught with danger. As an entrepreneur you need something that people want to pay for, with their money or attention. Asking them will not work, because people are bad at predicting their own behavior. For your first startup, there is a much easier way: Solve problems where people are already paying for solutions.” Rather than try to convince them they have a problem they don’t already recognize.
This is “entrepreneur’s path” vs “artist’s path” see: http://goo.gl/BC1Srz
Holistic Healer … can replace traditional doctor if it can heal the same problem, often with less harm to the body
Relationship Coach … can replace traditional marriage family counselors
Life Coaches … can replace traditional psychotherapists, for certain issues
Holistic Business Coach … can replace traditional business consultants
Step 2: Minimum Viable Product….
...something you could create in ONE day.
“Rather than spending six months creating a product or service, do only the smallest amount of work required to truly test it.”
It’s not a crappy service. It’s a needed, excellent service but simpler at this stage, really solves a problem, and can be delivered without needing to have a team in the beginning.
The narrower the service, the more excellent it can be, the better the reputation will be. Then you can expand to solving more problems.
For more of my notes on this book: http://goo.gl/gKLQ8c