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- Apr 24, 2019
- 7
- 2
Greetings from Fountain Hills, Arizona. I can confirm that both of MJ’s claims from Unscripted are true: (1) it is very sunny; and (2) the average age is 92.
I finally got my wife to read the books, we’ve come up with a business idea, and now we're trying to come up with a sensible way to validate it. I know there are a bunch of levers/variables that can be pulled/manipulated, but I’d like to get a general idea from you guys on what benchmarks you would set in order to move forward.
The business is an online peer to peer marketplace for used ultrasound equipment called The Ultrasound Marketplace (TUM). The website is www.theultrasoundmarketplace.com (right now just a cheap landing page created by someone on Fiverr). For background, my wife works in the industry.
Here are the steps I have taken so far:
Here are the results:
I know there are a ton of implicit assumptions, but the research we’ve done online about validation benchmarks hasn’t been particularly helpful (and is largely promotional/biased), so I would be grateful for any nudges in the right direction – even if it’s just more questions. Thanks!
I finally got my wife to read the books, we’ve come up with a business idea, and now we're trying to come up with a sensible way to validate it. I know there are a bunch of levers/variables that can be pulled/manipulated, but I’d like to get a general idea from you guys on what benchmarks you would set in order to move forward.
The business is an online peer to peer marketplace for used ultrasound equipment called The Ultrasound Marketplace (TUM). The website is www.theultrasoundmarketplace.com (right now just a cheap landing page created by someone on Fiverr). For background, my wife works in the industry.
Here are the steps I have taken so far:
- Sent surveys via Survey Monkey to approximately 4,000 buyers and 86 sellers (obtained over time through industry networking). If they took the survey, we rewarded them with a $5.00 amazon gift card. 46 responses x $5 = $230.
- Set up a landing page with call to action button (Join TUM today) that prompted potential customers to enter in the name and email to join. $95. on Fiverr. Automated email responses set up through Mail Chimp.
- Started a Google Ads campaign with a budget of $50/day and $1500/mo. Ad has been running for a total of 13 days. Spent $720 to date (see attached for screenshot).
- Used Mail Chimp (free platform) to invite all survey respondents to visit the landing page. $0.
Here are the results:
- Surveys: 44 of the 4,000 buyers responded; 2 of the sellers responded. Twenty-three (52%) of the buyers surveyed and both (100%) of the sellers said they would use a peer-to-peer marketplace to buy used ultrasound equipment.
- Google Ads: 27,137 impressions, 262 clicks, 13 subscribers.
- Targeted Emails Through Mail Chimp: I sent a mail chimp campaign email to all 86 sellers and the 44 buyers who responded to the survey. 24 sellers and 8 buyers opened the email, 2 buyers and 2 sellers clicked, 1 buyer and 1 seller subscribed.
I know there are a ton of implicit assumptions, but the research we’ve done online about validation benchmarks hasn’t been particularly helpful (and is largely promotional/biased), so I would be grateful for any nudges in the right direction – even if it’s just more questions. Thanks!
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