About The Lean Startup and Infoproducts

[truesouth]

Is it possible to use the method that Eric Ries teaches us in his book, with the development of the business model of the information products?

That is, I can apply what he teaches, and mix to get a Fastlane result?

Currently I am learning about this methodology, and I'm in lesson two of this course: https://www.udacity.com/course/ep245

As I am highly interested in learning these concepts and use them actively, I have also ordered the following books:

1. The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses: Eric Ries
2. Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers: Alexander Osterwalder
3. Nail It then Scale It: The Entrepreneur's Guide to Creating and Managing Breakthrough Innovation: Nathan Furr, Paul Ahlstrom
4. Amazon.com: The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime: MJ DeMarco (Yes, I have the old version, so I ordered the book again :eusa_clap

It should be noted that I had a slightly success with information products as creator. However, this time I want to take it to a larger scale from these concepts.

Someone who can help in this matter?

Thanks in advance for the advice.

 

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[AllenCrawley]

How will lean methodologies apply to creating infoproducts? Doesn't lean startup help you develop your product/startup using very little money anyway? The creation of infoproducts require very little up front money unless you're creating a platform like Udemy that is a marketplace for infoproducts. I've created a few infoproducts without the knowledge of the lean startup (i have recently read it tho) so I feel I might really be missing something here.

Also, I see you're an INSIDERS member so I suggest listening to Zendophin's INSIDERS call, from a couple days ago, just to contrast the difference between bootstrapping and going big:
https://www.thefastlaneforum.com/in...oject-march-22nd-zen*******-3.html#post272489

 

[truesouth]

How will lean methodologies apply to creating infoproducts? Doesn't lean startup help you develop your product/startup using very little money anyway? The creation of infoproducts require very little up front money unless you're creating a platform like Udemy that is a marketplace for infoproducts. I've created a few infoproducts without the knowledge of the lean startup (i have recently read it tho) so I feel I might really be missing something here.

Also, I see you're an INSIDERS member so I suggest listening to Zendophin's INSIDERS call, from a couple days ago, just to contrast the difference between bootstrapping and going big:
https://www.thefastlaneforum.com/in...oject-march-22nd-zen*******-3.html#post272489

Allen, thank you for your answer.

I have also created information products, but now I'm looking for an approach that allows me to make information products out of the ordinary, that is, that these information products can change and positively impact the lives of people.

Finally, thanks for sharing the call of @zen*******. I did not know about it.

 

[rorschach]

The lesson I took from the lean startup and the nail it and scale it books is to put failure up front. Most people build their whole business first and then try to sell their product, instead of trying to sell it first and only build it if it works.

So for info products that would mean creating a salespage for a product that doesn't exist yet and adding a dummy "buy" button. That way you can see if enough people are interested in what you want to create. Eben pagan, who created a couple of million dollar info products, suggests talking to your customers before creating anything. The key is to ask what their (your customers) pain and frustrations are. That way you'll learn to speak their language and you'll know exactly what you need to create.

I admit that's easier said than done.

hope this helps

 

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[Jeff Settle]

Is it possible to use the method that Eric Ries teaches us in his book, with the development of the business model of the information products?

That is, I can apply what he teaches, and mix to get a Fastlane result?

Currently I am learning about this methodology, and I'm in lesson two of this course: https://www.udacity.com/course/ep245

As I am highly interested in learning these concepts and use them actively, I have also ordered the following books:

1. The Lean Startup: How Today's Entrepreneurs Use Continuous Innovation to Create Radically Successful Businesses: Eric Ries
2. Business Model Generation: A Handbook for Visionaries, Game Changers, and Challengers: Alexander Osterwalder
3. Nail It then Scale It: The Entrepreneur's Guide to Creating and Managing Breakthrough Innovation: Nathan Furr, Paul Ahlstrom
4. Amazon.com: The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime: MJ DeMarco (Yes, I have the old version, so I ordered the book again :eusa_clap

It should be noted that I had a slightly success with information products as creator. However, this time I want to take it to a larger scale from these concepts.

Someone who can help in this matter?

Thanks in advance for the advice.

Good Question! The key with Lean Startup Methodology is to minimize Cash/Time spend and to maximize learning.

So, with your infoproduct business. You need to only build the smallest version of what you're doing (let's say it's a how-to on baking cookies). So, write out the how-to in a word-doc, find someone who needs to learn how to bake cookies, let them test your product, take what you learn, and build the next best version of your product.

By repeating this process, you'll rapidly learn about your customer and most importantly, the best way to service them.