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EXECUTION My First Productocracy

Discussion in 'Progress/Execution Threads' started by YearnForMe, Dec 11, 2017.

  1. YearnForMe
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    YearnForMe New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    It's a couple weeks over one month and I've earned $471.

    I believe this may be my first productocracy.

    I've made sales and earned various ways before (I first read TMF in 2012), but I feel this is the first time where I felt I truly created something I knew people needed (and truly cared about helping people)... and, more importantly, my customers are engaging, sending me great reviews, and praise.

    Before, my mindset was, admittedly, money-chasing oriented.

    I feel as though the past 6 months I've grown so much in terms of having very little material wants (my money system number is so much lower), knowing my end goals with money: freedom (and what really makes me happy) vs. hedonic adaptation (which I definitely fell into before), and truly caring about helping people.

    Now, I have a lot of business ideas because I see all the problems I can solve. Before hand, my ideas were only determined by the latest silver bullet.

    In fact, I had an idea for another business so I instantly tested it. It made its first sale, $10, the day after I uploaded the sales letter. I ended up giving the customer the order, and refunding it. The reason why is because I realized that this would take time away from my main business that I should be focusing on. I could hear MJ's voice in the back of my head regarding Monogamy vs. Polygamy.

    Side note: I actually had two ideas when first testing a month ago. The other was an adult site. Vanity metrics included getting upwards of 7,000 visitors a day. But I eventually chose the other business because I felt it was definitely more CENTS oriented... and I didn't really feel the adult site was something that I felt people would "yearn for me" should I leave the earth.

    Anyways, other than that, my main focus is to grow this business. And specifically, to scale this. I'd like to share a weekly update to log the journey, and any lessons I've learned.
     
  2. ruzara5
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    ruzara5 Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Journal on. Keep the ideas flowing.
     
    B. Cole and YearnForMe like this.
  3. YearnForMe
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    YearnForMe New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Been a month since my last post.

    Learned a few things I think would be helpful to share, and will report earnings on the one product I started this thread for:

    November: $359
    December: $228.37
    As of Jan 19: $353.24

    Biggest lesson I've learned... First, I know I'm solving a problem. In fact, I got some cool messages from customers telling me how it has changed their life. Felt great.

    But, I uploaded this solution on a different platform from where I discovered the problem. So, wrong message to channel issue.

    So I did some research on the current platform as to what they needed. I pinpointed what they search for, and more importantly, what they already spend money on.

    Anyway, I checked out the top products in a few categories. And my goal is to launch 1 product per month (note: goal is process based, not on money) for each category that I know I can add more value in.

    I've read all the reviews of the top products. And I highlighted the most common things people felt were missing. Those concerns will be addressed in my products.

    Other than that, been also working on my mind a lot. Specifically, being silent in nature... focusing on what I want... and traits I want. For me, the biggest breakthroughs have been from mindset and character traits.

    In fact, I already knew all the technicalities of making money years ago. But I didn't have the foundational mindset and character traits. And when I was earning more money (and then lost it, through lack of financial discipline) my mindset went into a downward spiral. So I'm grateful for Unscripted helping in developing my mindset and character again.
     
    André G. and ruzara5 like this.
  4. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Admin Post
    Congrats, that's definitely a signal of a productocracy.
     
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  5. YearnForMe
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    YearnForMe New Contributor Read Millionaire Fastlane I've Read UNSCRIPTED

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    Update

    For the past 5 months I've been creating a new product.

    I just launched it and it has already gotten 5 sales.

    My previous product is also still selling and getting good reviews (it's "highest rated" in it's category).

    Some Lessons Learned:
    • The process to creating the new product definitely sucked. But, I kept in mind the process principle. I broke down each product creation stage, as suggested in Unscripted, and set out the daily actions needed to create the product. And, eventually, I completed it in 5 months.

    • I realized that I want to develop the skill of enjoying the time within the desert of desertion. In other words, with each new solution I create I want to be able to solve bigger and bigger problems... ones that may require more time, more steps, and more resources in order to be solved. Personally, I'd feel as though I'm growing as an entrepreneur as I'm able to continually endure longer times within the desert of desertion for solving bigger problems.
    Future Steps:
    • Now that the new product is launched my focus will be on getting more orders, getting more reviews, listening to reviews, and making any needed updates to the product.
    Goals
    1. My first goal is to get 10 orders a day total between both products. The first product can get 5 orders in a day. But the daily average is 2 orders. So I'd like to increase the daily order average.

    2. From there, I'd like to use those earnings to reinvest into paid advertising.

    3. Also, I'll be listening in for the next problem to solve
     
    JamesDB, MJ DeMarco and ruzara5 like this.

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