James Schramko here with a couple of tips on how to go about approaching a new idea.
Often people come to me with a fantastic idea and they want my advice. So, of course, I listen and here are some steps that I would advise. Firstly, have a good look and see if someone’s already doing the idea. Usually, someone is. That’s okay because it means the idea was probably good.
The next step is, to see what you can learn about the people who have already approached this market with the idea. What sort of clues have they left behind and are they actually going well or not? Sometimes, you can’t tell from the surface. You might look and see if there are financial reports, you might ask people in the industry, you might enter into their funnel or even buy their products to see what’s happening at a greater depth. Because a lot of businesses, even mine, a lot of the heavy lifting is actually done in the email sequences and behind the scenes.
And then the next thing you want to do is, you want to speak to people who are already doing the idea, if possible. Maybe you do that as a customer, maybe you do it as an industry peer, maybe you’re meeting them at conferences. But you want to get the intel. In the same way that if I was going to go and open up a juice franchise, I would want to go and speak to five stores that already have that franchise and find out what do they think about it. Do they love it? Do they hate it? What do they wish was better? What would they improve? And then I would make the decision.
And the final step is to look for the way that you can enter that market with something a little bit different. How are you going to improve upon what’s already there for customers? How are you going to provide something in a unique way or better way that the other people are missing? When I started my online coaching community 10 years ago, I was able to incorporate things that I thought were missing from the other communities that I was a member of. And one of the most important ones is that the community founders very rarely ever showed up. And I turn up every day for my community members, been doing that for a decade.
And if you’d like me to show up for you in your business, please join SuperFastBusiness Membership and I’ll show you how it’s done.
I’m James Schramko. I look forward to catching up with you in our next video
See our products HERE
Build your business better with actionable content from SuperFastBusiness Live 2020