6 things we’ve learnt about having good (and bad) business ideas
Podcast 45:47 | Download | Spotify| Stitcher | iTunes
Today Dan and Ian analyze different frameworks for developing a good business idea, and reflect on how they didn’t always follow their own advice.
They cover 6 idea frameworks: ‘Find a Channel, Not an Idea’, ‘The Classic Entrepreneur’s Venn Diagram’, ‘The Slippery Slope Arbitrage’, “Make it Incredibly Difficult and Pointlessly Complicated’ and ‘Polarize Your Range’.
“You only need to answer one question, which is not do I hustle? Or do I chill? Or do I have the spirit or am I creative enough? It is simply, can I reliably and repeatedly get customers?”
Stick around until the end of the show for a walk with Dan and Ian down the Boulevard of Broken Dreams, aka their domain registrar account.
LISTEN AND LEARN:
0:08:47 Why you should start with the channel instead of the product
0:19:18 Find market demand before you unlock your passions and strengths
0:32:38 How soon you should be cashflow positive after starting your business
0:43:29 Is your ego holding you back from building a profitable business?
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Enjoyed this podcast? Check out these:
TMBA 693: 5 Things we've Learnt From Speaking With 50 Business Owners
TMBA 695: The Money Theory of Location and Why Employee Scorecards Are So Helpful
TMBA 672: Marketing by Building in Public: From Hobby to Major Business Opportunity
This week’s sponsors:
Don’t Get Held Up While You’re Trying to Scale Up. Experience the ease of remote hiring with dedicated experts by your side. Book a call at https://www.remotefirstrecruiting.com/
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Thanks for listening to our show! We’ll be back next Thursday morning 8AM EST.
Cheers,
Dan & Ian