If you’re anything like me, you’re not one to haphazardly launch a new product without being pretty sure that it’s going to succeed.
Now, when I say “succeed,” here, I’m not just talking about being sure my product provides value to my intended audience.
That’s a part of it—but there’s more.
My other concern when beginning the process of launching a new product is whether or not it will generate the amount of revenue I’m hoping it will.
In fact, my concerns about generating revenue actually precede my concerns about how the product will be received by my audience. After all, in order to make any improvements your audience suggests, you need to have funding, right?
Backing up even further, you also need to have funding in order to develop your product in the first place. To do so, most business owners typically choose one of the following options:
- Using their own capital
- Raising capital from investors
- Bootstrapping from the ground up
While you certainly can experience success through each of these pathways, each of them also comes with their fair share of risks, as well.
But what if I told you you can raise money to develop your product by getting your customers to pay for said product before it even exists?
(Spoiler alert: That’s exactly what I’m going to do.)
How We Made Almost $50,000 In 24 Hours With No Product
My goal for this episode of the Insane Growth podcast is threefold:
First, I want to bring you through my exact process when ideating, creating, and developing a new product. Throughout this episode, I explain my process for:
- Brainstorming potential product ideas
- Soliciting and collecting feedback from my target audience
- Using this information (and more) to dig deeper into the needs of my target audience
- Solidifying and validating a specific idea for a product
I then explain how I go about collecting pre-order payments from the audience members who showed the most interest in my new product idea. While this essentially involves offering early access (and other incentives) to your most engaged followers, I go into much more detail in the podcast regarding the best ways to go about doing so.
Finally, to bring it all home, I talk about why this approach is so much more effective—and so much more beneficial—than the ones I mentioned earlier. While we’ve gotten the obvious (i.e., getting funding for your product) out of the way, there are a few other “hidden” benefits of using this approach that can do wonders for your brand’s reputation.
Of course, to find out more about these hidden benefits, you just have to listen to the episode…
- How to Get Anything You Want: My free ebook in which I explain how I think, plan, and bring success into my life with what seems like minimal effort.
- Lead Generation Machine: My (currently closed) course in which I explain how to automate the process of consistently generating high-quality leads.
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Thanks for tuning into this week’s episode of the Insane Growth podcast! If this episode has helped you in your business journey, please head over to iTunes, subscribe to the show, and leave me an honest review. Your reviews and feedback will not only help me continue to deliver great, helpful content, but it will also help me reach even more amazing entrepreneurs just like you!