how to execute your idea
TRANSCRIPT
Hey guys, I've been tossing around a pretty cool app idea for year...
We are launching a new product and need someone...
I'm currently working on a project and looking for help
Hi we are interested in developing a new social media application...
I am with a team of guys who have created a concept for an app.
I have an idea that has to do with technology.
Ideas are worth nothing.
Execution is everything.
An idea is just a multiplier of execution
AWFUL IDEA = 0
WEAK IDEA = 1
SO-SO IDEA = 5
GOOD IDEA = 10
GREAT IDEA = 15
BRILLIANT IDEA = 20
NO EXECUTION = $0
WEAK EXECUTION = $1000
SO-SO EXECUTION = $10,000
GOOD EXECUTION = $100,000
GREAT EXECUTION = $1,000,000
BRILLIANT EXECUTION = $10,000,000
The Execution
● Mind map your problem● Come up with a solution● Research, educate and connect yourself● Start talking about it● Determine the MVP and it’s goals● Talk to customers● Create and deliver.● Measure, learn, create and repeat.
Write down a problem.
Write down anything related to the problem.
Categorize and Organize Your Thoughts
Write one page
detailing your idea.
Simplify your page to one paragraph
Tricks
Tricks
Tricks
Tricks
“Product review” “Have you tried” “I bought” “I purchased”
Source: Pat Flynn - Will It Fly?
“amazing story” “great story” “awesome story” “good story”“tell you a story” “one time I was” “I remember when” “share a story” “happened to me” “I figured it out”
“why is it” “when can I” “what are the” “what is the” “how come I” “need help” “please help” “I need” “help with”
Tricks
Tricks
Tricks
Tricks
Tricks
Tricks
Tricks
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Tricks
Tricks
More places to research
What’s something about [topic] that frustrates you? If you had a magic wand and could change anything related to [topic] what would it be? What problems are costing you the most money right now? What’s the most important activity related to [topic] that you do? Is there any frustration associated with that? What related to [topic] takes up the most time? Do you use anything to help you with [topic] already? What do you like about it? What do you wish was better? What’s something related to [topic] that you have to keep doing over and over again?
Start Asking Questions
M MinimumV ViableP Product
What is the minimum amount of features you need
to prove your idea works?
Required Nice-to-have
Test the strength of your features
Learn to play devil’s advocate
Exercise1. Pick someone to be your future devil’s
advocate.2. Share your product/service.3. Ask as many questions as possible.
BREAK!
Find just 10 people that love your product/service
Talk to your customers. Often.
Exercise 1. Create a new Trello board.
2. Add people who might be customers. 3. Select 10 people to interview.
Set adeadline.
Get Organized
Hold yourself accountable
Create it.
Launch it!
Listen to the data.Find patterns.
Make decisions.
“You should make decisions on metrics. Don't get excited about PR, ultimately follow the numbers.”
Delight early users with an experience they remember
Entrepreneurs work 80 hours a week so they don’t have to work
40 hours a week.
Founding teams of 2-3 work best
Relentlessly resourceful
Tough and calm
Smart
Best traits of co-founders:
AlwaysBeCreating
AlwaysBeClosing
Co-founders should be doing at least one of two things:
“Making It Happen” Books
#makingmovesNow it’s your turn to make some moves!
Take a picture of this moment and email it to yourself 5 years from now: http://www.boomeranggmail.com/
