How to come up with an online business idea & validate it?

Not a Sales Pitch So Relax, Learn & Apply :)

@Canadianlmpro

Why you should listen to me:Here is my journey….I am not Mark Zukerberg but I have been able to give myself a lifestyle and travel everywhere because of online businesses.

2006 I graduated from High school with aspirations to become a Dentist.2006 Moved to Canada (For University)2006 Joined University of Wilfrid Laurier (Dropped out in 2008) Worked odd jobs and saved!2008 Bought 25% into 3 Extreme Pita Franchise Locations (Still own them which currently do over 2+ million in sales)2009 Went to work at The Brick (Digital Marketing & Online Marketing)2012 Left Brick after launching Canada’s biggest furniture & appliances website and started Rapid Boost Marketing (Left the grind)2015 Got married2016 Rapid Boost crossed 2+ million in sales2016 Launched Xoomly – Where we want to help 1 million people escape the 9 to 5 grind2016 Launched Rapid Growth Podcast | Escape 9 to 52017….bring it on!! I am on a mission to improve your life2018 Launched RapidDigitalMarketing.com & 2 Other Ventures

Why you should listen to me:

You are at the right place if….● You’re not happy with your life right now financially● You’re tired of working a job that you don’t like● The idea of working most of your healthy life doesn’t sit right with you,

and you know there must be a better way● You want to seek out adventure and you want to do it now● You know deep down, that you deserve more out of your life than

punching a clock for 30 years with the hopes of finally being able to retire...

7 Step FrameworkIt can be applied to:

BloggingeBay & Amazon MarketingDrop shipping:Info-product businessSAASOnline ServicesSocial Media, Digital, IT etc.Coupons, Deals & OffersSubscription businessCPA Marketing...and much, much more!

EbooksDropshippingCreate a Niche SiteProfessional freelancerHandmade craft sellerOnline EducationDirectoriesPodcasting

7 Step Framework- Mindset- Ideation- Defining Solution- Pre-selling- Making & Building- Big Launch- Your First Customer to 100k

MindsetStory:

So back in the day, a young dropout from Harvard met with IBM when they were looking for their first operating system to install in their computers. This dropout’s mom sat on the board of IBM. So talk about connections. She introduced her son to the president of IBM and her son met with this guy and the president told the son about this pain they have with needing an operating system. IBM wanted to buy this operating system outright but instead this guy said, “I want to license this to you for recurring revenue. I don’t want to sell the software to you completely.”

After agreeing to provide them an operating system, which he didn’t have, he got home and found a guy who made a product called MS Dos, bought it for roughly five figures, modified it a bit and turned it around and licensed, sell it to IBM for millions.

MindsetHe started without an idea, without a product. I’m not sure whose money he used to buy it but it would not have been hard to find investors for a deal backed by IBM. And so this is how Microsoft was born. They found the pain, pre-sold it, then went on to the product and then they scaled into the billions. So, what does it take to get started as an entrepreneur? What’s the one thing that you need? The only thing that actually matters for you to have a business. The only thing that you need is a paying customer. Just one customer to believe in you, that’s it. And having a paying customer changes everything in your life. Why is this important?

Because one, having a paying customer reduces your risk substantially, you don’t have to guess anymore, you’ll be able to build exactly what somebody needs. This is so important because you don’t need a PhD, a college degree, a fancy idea or rich parents to get started.

Mindset: Seeing Abundance EverywhereHeard from somewhere:

A friend of mine was riding from Canada down to America after a fishing trip with his uncle. On this fishing trip on the way home, he was talking to his uncle and he notice his uncle was looking off onto the side, looking at the set of train cars driving by. He was looking at these set of train cars for – I don’t know, five, ten minutes. After the train cars were gone, the uncle turned to his nephew and said, “Huh, 111.” The nephew’s like, “What do you mean 111?” He said, “111 empty train cars traveling from wherever we’re going to wherever we’re going.” The nephew thought nothing of it and then a week later, they were home, and the uncle told the nephew, “Hey, do you remember those 111 train cars? Well, I called the train company and I asked them why they were shipping empty and they said they had no shipments.” He called another company and looked up logistically someone that needed a transport materials from one location to the other that the train was already traveling.

Brokered a deal, ended up making thousands and thousands of dollars while he was driving home on his fishing trip all because he had these green glasses on seeing the train cars drive by. Now, how many times have you seen a train drive by and never thought about how you could actually use that opportunity to make money, or even noticed if the cars are empty or not.

My story

A long time ago when I was doing this green glasses thing all the time – I actually have to take the green glasses off sometimes because I see so much abundance and opportunity everywhere. I see all these shiny objects that I want to pursue and right now focus on 3 ventures. So, I take the green glasses off so to speak.

Example: Nelie Akalp

Nellie Akalp is a serial entrepreneur, small business advocate, speaker and author. Her first business was started with $100 and sold eight years later for $20 million. Today she is the founder & CEO of CorpNet.com, an online legal document filing service, where she helps entrepreneurs start a business, Incorporate, Form an LLC, set up Sole Proprietorships (DBAs)

Step 2: IdeationSo my formula for idea selection is:

Idea Selection = Your Passion x Market Demand/Need

In his book, Hooked Nir Eyal talks about this concept in detail. If you are motivated enough to overcome these barriers then you are very passionate about something, which is a good indicator that you need to pursue this idea further. Here are 6 barriers which Nir Eyal mentions in his book:

● Time● Money● Physical effort● Brain Cycles● Social Deviance● Non-routine

Don’t ask Friends and Family

They are emotionally connected to you and they are biased.

They might not want to make you unhappy or be honest with you. They might just give you a feedback for feedback’s sake. You need feedback from someone who has no emotional connection with you and they see your idea beyond you.

Step 2: IdeationSo my formula for idea selection is:

Idea Selection = Your Passion x Market Demand/Need

In his book, Hooked Nir Eyal talks about this concept in detail. If you are motivated enough to overcome these barriers then you are very passionate about something, which is a good indicator that you need to pursue this idea further. Here are 6 barriers which Nir Eyal mentions in his book:

● Time● Money● Physical effort● Brain Cycles● Social Deviance● Non-routine

Step 2: IdeationSo how do you generate killer ideas? Here are those seven ways we promised:

1. Solve Problems. If people need money, you show them how to get it. If people need to lose weight, you show them how to be thinner. If people have back pain, you show them how to get rid of it, etc.

2. Answer Questions. Again, you’re showing them how to do something. For example, if people are asking how to build a website, run an affiliate program or use a shopping cart, answering their questions can be the basis for a product topic. Sometimes the question might be answered with software. For example, if people want to know how to drive traffic and you’ve created a plug-in that drives traffic, you have an answer to their question (#2) that solves their problem (#1.)

3. Make a Process Easier. For example, every marketer needs sales letters. If you can develop a software, service or system that makes it easier to get sales letters, you might have a product winner.

4. Improve something. If you’ve got a method for growing organic vegetables that makes the vegetables bigger, tastier or more plentiful, you’ve got a product.

5. Do something faster. Maybe you know how make tomatoes grow twice as fast, or you know how to build a good list faster than anyone, or you have software that cuts the time it takes to perform a task – those are all viable product ideas.

6. Make something cheaper. Can you teach the contents of a $997 course for $27? Or can you show people how to do something cheaper? Maybe you can demonstrate how to grow herbs for a fraction of the store cost – this could make a great product.

7. Find the Hidden Desire or Need. For example, there are tons of products on how to do each aspect of online marketing yourself. But there might very well be a hidden market of upscale buyers who would rather pay someone to develop an online business for them.

Step 2: Ideation4. Improve something. If you’ve got a method for growing organic vegetables that makes the vegetables bigger, tastier or more plentiful, you’ve got a product.

5. Do something faster. Maybe you know how make tomatoes grow twice as fast, or you know how to build a good list faster than anyone, or you have software that cuts the time it takes to perform a task – those are all viable product ideas.

6. Make something cheaper. Can you teach the contents of a $997 course for $27? Or can you show people how to do something cheaper? Maybe you can demonstrate how to grow herbs for a fraction of the store cost – this could make a great product.

7. Find the Hidden Desire or Need. For example, there are tons of products on how to do each aspect of online marketing yourself. But there might very well be a hidden market of upscale buyers who would rather pay someone to develop an online business for them.

Ask people in the similar profession/industry

“I wanted to find 10 people who would be willing to pay a specific amount for the product once it was complete” Rob Walling, creator of Drip

If you want to build an app for Lawyers, the best way to validate the idea is to talk to a lawyer. If your product is about dogs, then you will talk to dog owners about their opinion.

You need to talk to at least 15 people in order to get a clear idea of what your potential customer thinks about this. Also, when you ask them questions about the demand also ask them how much they will pay for your product. You don’t determine the value, customers do. You maybe underestimating or overestimating the price you want to charge.

Defining Solution- Software- Blog- Ebook- Course- Ecommerce- Dropship- Online/Offline Hybrid- App- SAAS- Advertising

Penny Hoarder: Advertising

Law Depot: Productize Service

Top Talent Summit: Events

EOFire: Courses

Industry Wide ProblemsIndustry Wide Problems

When I was doing idea discovery it became obvious to me that the biggest challenge in the physical therapy market was shrinking reimbursements. By shrinking reimbursements, I mean that physical therapy practice owners get paid less back for their services than they used to from insurance companies and the government…..

Step # 4: Preselling

PresellingUltimately pre-selling your product/service gives you:

• money you don't have to build the product/service etc.

• a customer base with low expectations so you can build the most basic version

• a user test group to make sure the product is exactly what they want

• customers who have bought into your vision from day one

• a bunch of testimonials and case studies before you ever start marketing to a large scale audience.

PresellingThere is a specific point in the transaction to presell…

After you’ve: •

Extracted an idea

• Validated the idea with at least 5 other people

• Built the info pack

• Got a quote for the MVP

PresellingPre-selling is even becoming a mainstream trend right now. Check out sites like Kickstarter.com and Indiegogo.com

These are sites built purely for people to pre-sell their ideas and get them funded before building them. My friends raised $60k for a clothing business. Other people have raised millions for new tech ideas that don't exist yet. Pre-selling is the secret ingredient for making ideas into reality... without risking anything up front.

Preselling I call this a “Core Members Program.”

Here are the elements:

• The Pitch

• The Benefits

• The Catch

• The Track Record

• The Guarantee

PresellingPre-selling is even becoming a mainstream trend right now. Check out sites like Kickstarter.com and Indiegogo.com

These are sites built purely for people to pre-sell their ideas and get them funded before building them. My friends raised $60k for a clothing business. Other people have raised millions for new tech ideas that don't exist yet. Pre-selling is the secret ingredient for making ideas into reality... without risking anything up front.

Making & BuildingChoose the right technology….Homebase!

- Memberships, Email, Automation, Courses, Listings etc. Technology is really important!

Other Steps which are part of the program

- Making & Building- Big Launch- Your First Customer to 100k

Want these 3 steps? Please goto: www.rapidboostmarketing.com/googlereview

Let me know once you leave a review and I will send you rest of the presentation

Start Smart & Escape 9 to 5

How to Find a Winning Online Business Idea &

Land Your First Customer

8 Hour (2 Four Hour in Person Sessions)

- From Idea to First Customer - Roadmap- Plan - Execution Strategy.

Reg: $997 Now: $497