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- Sep 23, 2015
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I've been a member of this forum for about three months. In those three months, I've already seen improvements in my mindset as well as my ability to bounce back after creating some convoluted scheme that will certainly lead me back to where I started. The issue that remains, though, is I've still not truly taken the steps necessary to achieve financial freedom and a grand "liquidation event." I intend to change that today.
I recently read into two dissimilar ideas around announcing plans publicly. One states that people inherently seek consistency, so going on record about an idea or belief will drive one to pursue those ideas in an effort to appear stable. The second says that telling people about your goals is a reward in itself and that you'd achieve a higher "social appearance," or some such, simply by letting it out of your head and, therefore, you potentially diminish your follow-through. I'm taking this approach according to the ideas presented in the former. I'm also doing this because, frankly, I'm scared shitless and I want to immerse myself in that fear to reduce its hold.
I've listened to interviews, podcasts, phone conferences, watched videos, read article upon article, crept in several of the threads on this forum and one idea has consistently emerged. Don't create a solution and then attempt to find the problem, but rather, find a problem first, then create your solution.
The steps I will be taking to realize this pathway are as follows:
1) Identifying a profitable marketplace.
2) Cold e-mailing decision makers in said industry to set up a phone interview.
3) Ask about, and listen for, pain-points.
4) Develop a rough draft solution based around these pain-points.
5) Pre-sell this product to verify the makretplace.
6) Use presales to fund product development.
7) Bring this product to market.
This process seems, to me, to fill these commandments. Need: I'll find the problem prior to the solution, therefore verifying a need for my product. Entry: The entry bar seems to be set low, as anyone can follow this method. Not everyone will, however, thus thinning the entrants. Control: I won't have to rely on the existence of another product or service to maintain mine. Scale: If my product happens to be a piece of software, which is the intention, with an automated payment process, then 1 customer is no more a burden that 1,000,000. Time: Since I intend to offer a product rather than a service, there will be little need for me to invest much time occupying a storefront or working a job-like business.
I intend to update this thread daily, if the days events warrant it. This includes days where I slack off. This will be an open diary of my successes and failures. I welcome questions about this process, as it will certainly cause me to really delve into aspects that I may not have considered. I'm also open to criticism, as you may see a flaw that I do not. I recognize there are several members of this forum who have done what it takes to create wealth and freedom and I'm thankful to have the opportunity to hear from, and be guided by, these members.
Now, I'm off to the races. First update by the day's end!
I recently read into two dissimilar ideas around announcing plans publicly. One states that people inherently seek consistency, so going on record about an idea or belief will drive one to pursue those ideas in an effort to appear stable. The second says that telling people about your goals is a reward in itself and that you'd achieve a higher "social appearance," or some such, simply by letting it out of your head and, therefore, you potentially diminish your follow-through. I'm taking this approach according to the ideas presented in the former. I'm also doing this because, frankly, I'm scared shitless and I want to immerse myself in that fear to reduce its hold.
I've listened to interviews, podcasts, phone conferences, watched videos, read article upon article, crept in several of the threads on this forum and one idea has consistently emerged. Don't create a solution and then attempt to find the problem, but rather, find a problem first, then create your solution.
The steps I will be taking to realize this pathway are as follows:
1) Identifying a profitable marketplace.
2) Cold e-mailing decision makers in said industry to set up a phone interview.
3) Ask about, and listen for, pain-points.
4) Develop a rough draft solution based around these pain-points.
5) Pre-sell this product to verify the makretplace.
6) Use presales to fund product development.
7) Bring this product to market.
This process seems, to me, to fill these commandments. Need: I'll find the problem prior to the solution, therefore verifying a need for my product. Entry: The entry bar seems to be set low, as anyone can follow this method. Not everyone will, however, thus thinning the entrants. Control: I won't have to rely on the existence of another product or service to maintain mine. Scale: If my product happens to be a piece of software, which is the intention, with an automated payment process, then 1 customer is no more a burden that 1,000,000. Time: Since I intend to offer a product rather than a service, there will be little need for me to invest much time occupying a storefront or working a job-like business.
I intend to update this thread daily, if the days events warrant it. This includes days where I slack off. This will be an open diary of my successes and failures. I welcome questions about this process, as it will certainly cause me to really delve into aspects that I may not have considered. I'm also open to criticism, as you may see a flaw that I do not. I recognize there are several members of this forum who have done what it takes to create wealth and freedom and I'm thankful to have the opportunity to hear from, and be guided by, these members.
Now, I'm off to the races. First update by the day's end!
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