How to extract your next business idea & sell it before it exists.

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Sep 1, 2022 | Business

I’m going to answer this in the way I answered it for a similar obstacle specifically for software business ideas on another forum.

Go ahead, read this, and be cynical in the comments and ask me questions.

Also, I’ll be dropping free services whenever I can, without linking to them so save this answer so you can refer back to it.

Pick Your Poison (Market)

If you don’t want to spend the rest of your life selling to alcoholics, don’t pick wine & spirits. Also, if it HAS to be a boring market, be ready to have an exciting hobby.

Btw, don’t be me and pick a market that has potentially awesome people, but no money to spend.

You know it’s a digital product, but not sure for whom. Do this:

Is your potential client already using some other software?

How approachable are the decision-makers (phone, email, social media)? The fellas over at Angel List VS CEOs at Fortune 500 companies;

Don’t go after your wantrepreneur friends at Amway, do go after like-minded people running their legit hustles (nothing less than $110K per year as a small business);

You’re able to extract a pain point within 10 minutes of your conversation (more on this as you scroll down).

The more of the above list items you can nod at, the better the chances of having selected a solid market.

Hit Them Up!

Start with your warm network, friends & family (but NO MULTI-LEVEL MARKETING drones ).

Let them know what market you’re after and if they’re growing their business too because you’re trying to learn more about their #1 pain point;

Go through your social networks (LinkedIn & Facebook groups specifically) and engage them at an authentic level to learn more about what keeps them awake at night.

You’re not selling anything, so listen;

Don’t be that guy. Ask genuine questions and find out more about it within your friends, family, and professional contacts;

Contact them with a simple message of who you are (your mutual friend), why you’re reaching out about, and if ANY of what you’re saying resonates with them, to hit reply and tell you what’s the BIGGEST OBSTACLE they’re currently facing in their business. If you have a list of 25 contacts, know right now that you won’t get 25 responses. Play the qualified numbers and look for patterns as the responses start to come in.

Rinse & repeat until you get about 50 responses (this is a rule-of-thumb, not the recipe) and look for patterns to close in on your niche.

I.E. Use this “ad-libs” email template as your initial message for people that share a mutual friend:

“Hi [LEAD NAME]. I’m [YOUR NAME] and our mutual friend, [MUTUAL FRIEND’S NAME] recommended I reach out to professionals in the [NICHE] market to learn more about their biggest obstacles right now and your name came up. I don’t have anything to sell. Is this something you’d be able to help me with? There are no wrong answers. If any of what I’m saying resonates with you right now, simply reply with “YES” and I’ll follow up with a link to my calendar to get on a 10-minute call to learn more about what’s keeping you up at night.”

Again, this is a TEMPLATE. You’ll find your own voice depending on your market and your style. The goal is to get a decision-maker ON THE PHONE with you.

Use a free service like calendly[dot]com to set up and connect your schedule to show your availability and let them do the work for you.

If you don’t want to give out your personal line, I recommend uberconference[dot]com to talk over an internet connection and you can give out the same URL or PIN number for them to connect with you. Skype works too, I guess.

You’re Talking with Them, Now What?

Dude, you’ve done the HARDEST part of this training, getting a decision-maker on the phone with you.

If you’re a weirdo over the phone, you’ll just have to practice this part. More or less, here’s the script, ask them and listen:

“Hi, [REITERATE WHO YOU ARE AND WHAT YOU DO IN TEN BREATHS or fewer]”

“Can you tell me more about what you do on a daily basis?”

“Of those tasks, which one is the hardest and/or taking the longest to accomplish?”

“What is this costing your business?”

“If this obstacle were to be solved, what would it mean for you, both personally and at a professional level?”

“In an ideal scenario, what would your success look like?”

If you’ve read this far is because we both know your ideas suck. So LISTEN to THEIR problems and collect that information. You don’t have a business, logo, website, or friends (you don’t).

Here comes the secret sauce: YOU HAVE GATHERED PAIN POINTS FROM ACTUAL PROFESSIONALS WITH THE SAME/SIMILAR PROBLEM.

Right now I need you to get rid of your ego (and you should’ve long ago) and accept that THIS feedback is your business potential. Not YOUR STUPID IDEA(S).

What did they say?

How did they say it?

How big of a problem did they have?

Now, after you thanked each and every wonderful qualified business professional that agreed to talk to your sorry butt, let’s go back to the lab.

Do their problems make sense?

Can you see how bad they are?

If you know their problems at such an intimate level at this point, chances are, you can figure out the solution?

Can you?

NOW, for those of you that DO have an answer to their BIGGEST obstacle. We’re going to sell them the solution WITHOUT HAVING IT AT HAND.

Pre-Selling

I don’t have time to explain it because this is about action over theory without the fluff.

The Anatomy of a Pre-Sales Offer:

The talk

The goods

The catch

The guarantee

Ok, before we dive into offering a solution that doesn’t yet exist, we need to figure out how much it’s going to cost. Developers are EXPENSIVE, the good ones, at least.

Find out how much it’s going to cost you to deliver the MVP (Most Valuable Product). Think of a penthouse suite, without the ‘pent’ or the ’suite’ and you get a ‘house’. What are the bare minimums you need to get this digital product to JUST WORK?

This is a weird part of my training because the answer could be anything. If you care to guess-n-test it, head on over to my Google search result:

howmuchtomakeanapp[dot]com and get a benchmark, but don’t get stuck on that number. This training is about momentum.

The Talk

Now hold onto that number and figure out how many early investors you need to PAY YOU to get your web app to work and in beta. These guys will ask you why you’re asking for that much and you need to be HONEST and ready to say why you need to raise this much to get the ball rolling.

The Goods

I won’t spend too much time on this part, because you already know what good can come out of this if you can solve their problems. You should, they TOLD YOU.

Now offer the solution and SWEETEN the deal:

Can you lock them at an “early investor” discount?

Can you offer them XX months free?

Can you provide extra TLC ‘round the clock?

Can you train them and their team for free?

Can you text them bedtime stories at 3 am whenever they ask you for one?

Sweeten the pot!

The Catch

Ok, now this next part sounds a little prison-y. There’s a catch. This part is about what THEY CAN DO for YOU.

Testimonials

Access to their network (Referrals)

Case studies

Linkbacks

Understanding that your beta WILL have bugs, but you’re working them out.

Don’t let them forget that they’re part of a MOVEMENT. That they’re the early adopters that believe in you and you will NOT forget about them.

The Guarantee

I won’t lie, this part is scary AF.

Tell your initial contacts that have been with you thus far that if you’re NOT able to deliver on your solution, you’ll give them their money back.

Get a lawyer before you say this, I don’t need your butt after me because you talked out of your butt due to a Quora answer you scrolled through.

Now, that we have that out of the way…seriously, put yourself in THEIR shoes, why should THEY give YOU money?

They want the results you’re offering, but they want to reduce risk as much as possible because you have NO track record.

Get that money!

That’s it. That’s how you get others to tell you their problems and convert that feedback into a business idea.

Why Do Consumers Prefer Brands That Align with Their Personal Values?

Consumers increasingly gravitate towards brands that resonate with their personal values due to a deep emotional connection and ethical considerations.

1. Emotional Satisfaction: Spending money on brands that align with one’s values—such as environmental sustainability or social justice—provides a sense of fulfillment. It transforms a mere transaction into an act of advocacy, making shoppers feel they are contributing to something bigger than themselves.

2. Ethical Alignment: In an era where transparency is key, consumers are keen to support businesses that are not only ethical but also publicly committed to positive causes. For instance, companies like Patagonia and TOMS Shoes have built reputations based on their environmental efforts and social impact. This ethical stance reassures consumers that their spending is in line with their moral compass.

3. Personal Pride: There’s also a significant element of pride involved. Purchasing from brands that reflect one’s beliefs allows consumers to feel proud of their choices. It’s not just about owning a product; it’s about standing up for what they believe in. When a consumer buys a Tesla, for example, it’s more than just owning an electric car—it’s supporting innovation and sustainability.

4. Influence of Social Proof: Social environments and communities play a role too. When friends, family, or influential figures endorse value-driven brands, it influences purchasing decisions. Seeing others make conscious choices encourages individuals to follow suit, enhancing the collective impact.

5. Long-Term Relationships: Lastly, brands that align with consumer values tend to foster stronger, long-term relationships. Customers feel more loyal and invested in a brand’s future, often becoming repeat buyers and brand advocates themselves.

In summary, consumers prefer brands that align with their personal values as it allows them to support causes they care about, feel ethically and emotionally satisfied, and derive pride from their purchases. This alignment often translates into deeper, more loyal customer relationships.

How Can Early Adoption of Eco Branding Benefit Companies in Building a Loyal Customer Base?

Building Trust and Credibility

Early adoption of eco-friendly branding significantly boosts a company’s credibility. Customers are more likely to trust and remain loyal to a brand that prioritizes sustainability from the start. By integrating eco-conscious practices early, companies can position themselves as industry leaders committed to positive change.

Setting Industry Standards

Pioneering eco branding allows companies to set new industry benchmarks. By being proactive rather than reactive to environmental concerns, businesses can shape customer expectations. This approach often results in heightened brand loyalty, as consumers appreciate and support brands that lead by example.

Attracting Eco-Conscious Consumers

A growing segment of consumers prioritizes sustainability in their purchasing decisions. By adopting green practices early, companies can attract these eco-conscious buyers who are likely to be loyal. Being an early adopter demonstrates a genuine commitment to environmental stewardship, resonating strongly with this customer base.

Creating a Unique Selling Proposition

Integrating eco-friendly initiatives early on differentiates a brand in a crowded market. This unique selling proposition (USP) not only draws in new customers but also fosters brand loyalty. When consumers feel they are contributing to a larger cause through their purchases, they form a deeper, more loyal connection to the brand.

Long-Term Cost Benefits

Sustainability practices can lead to long-term cost savings, which can be passed on to loyal customers. Reducing waste, improving energy efficiency, and using sustainable materials can lower operational costs. Companies can reinvest these savings into customer benefits, further solidifying loyalty.

By embracing eco-friendly branding early, companies do more than just keep up with market trends. They become leaders who inspire trust and loyalty among consumers, ensuring long-term success and positive brand reputation.

Crafting a Compelling Eco Brand Message

When crafting your eco brand message, it’s important to focus on creating a clear, impactful, and authentic message that resonates with your audience. Here are some key strategies to help you craft a compelling eco brand message:

  1. Know Your Audience: Understand the values and priorities of your target audience to tailor your message to their needs and interests.
  2. Storytelling: Use storytelling to convey the impact of your nonprofit’s work and the difference it makes in the world. This helps create an emotional connection with your audience.
  3. Consistency: Ensure that your brand message is consistent across all communication channels, including social media, website, and marketing materials.
  4. Transparency: Be transparent about your organization’s sustainability efforts and the steps you are taking to drive change. This builds trust with your audience.
  5. Call to Action: Encourage your audience to take action through your brand message, whether it’s supporting your cause, volunteering, or making eco-conscious choices in their daily lives.

While sometimes the product or service itself can’t be entirely eco-friendly, companies can still choose to support causes that aid the movement. This is where eco branding allows companies to share those efforts with their audiences. Highlighting the steps your company is taking, even if incremental, can educate and encourage your supporters to follow suit.

Sharing Your Efforts

  • Support Causes: Partner with eco-friendly organizations or initiatives to demonstrate your commitment. This can be showcased through your brand narrative.
  • Educate: Use your platforms to educate your audience about the importance of sustainability and how your efforts contribute to the larger movement.
  • Encourage Participation: Invite your audience to participate in your initiatives, whether through donations, volunteer opportunities, or adopting eco-friendly practices themselves.

By integrating these strategies, you can build a robust eco brand message that not only resonates with your audience but also promotes a broader culture of sustainability.

How Consumers Are Pushing Brands to Advocate for Societal Progress

Consumers today wield tremendous power, influencing how companies operate and interact with societal issues. This shift is evident in multiple ways:

Demand for Transparency and Accountability

Consumers increasingly expect brands to be transparent about their practices. They want to know the origins of products, the environmental impact of production, and the ethical considerations involved. Social media amplifies these demands, making it easier for consumers to hold companies accountable through public discourse and organized campaigns.

Preference for Sustainable and Ethical Products

There’s a growing inclination toward sustainable and ethically produced goods. Whether it’s eco-friendly packaging, fair-trade certifications, or cruelty-free claims, consumers are making purchase decisions that align with their values. This has prompted companies to adopt more sustainable practices to meet these preferences.

Expectation of Social Responsibility

Consumers are looking beyond the products themselves, scrutinizing how brands contribute to societal issues. They support businesses that take active stances on causes such as social justice, climate change, and human rights. This alignment with consumer values has become a cornerstone of modern marketing strategies.

Influence on Brand Innovation

A study by Edelman revealed that more than half of consumers believe brands can address social issues more effectively than governments. This belief is driving brands to innovate in ways that contribute positively to society, from developing green technologies to supporting educational initiatives.

Creating Community and Engagement

Brands are increasingly engaging with their audiences on social platforms, creating communities that resonate with shared values. This engagement isn’t just about promoting products; it’s about fostering meaningful conversations and actions around societal progress.

Consumer influence is reshaping the role of brands, pushing them to become active participants in driving societal change. The focus is no longer solely on profit but on generating a positive impact on the world.

Leveraging Social Media and Digital Marketing

Using social media and digital marketing can significantly amplify your nonprofit’s message, allowing you to reach a wider audience and drive change effectively. Platforms like Facebook, Instagram, and Twitter enable you to engage with your supporters, share impactful stories, and spread awareness about your cause. Digital marketing tools such as email campaigns, content marketing, and search engine optimization (SEO) can help you attract new donors and volunteers. Leveraging these strategies can enhance your nonprofit’s visibility and impact in the community.

Measuring and evaluating eco branding impact

To measure and evaluate your eco branding impact, consider gathering data on the following aspects:

  1. Social media engagement: Monitor the number of likes, shares, and comments on your eco branding posts to gauge audience interest and interaction.
  2. Website analytics: Use tools like Google Analytics to track the traffic to your website, including the number of visitors, bounce rate, and time spent on eco-related pages.
  3. Media coverage: Keep track of any media mentions or press coverage your eco branding efforts receive, and assess the reach and tone of the coverage.
  4. Partnerships and collaborations: Evaluate the success of any partnerships or collaborations with other eco-friendly organizations, and measure the impact of joint initiatives.
  5. Surveys and feedback: Gather feedback from your target audience through surveys or direct communication to understand their perception of your eco branding efforts.

By analyzing these factors, you can gain valuable insights into the effectiveness of your eco branding strategies and make informed decisions on how to drive positive change.

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