Starting a $400,000 Side Business in 1 Month (for Free)
by Nat Eliason
- Nat built a course in early 2020 called, “Effortless Output in Roam” — a course that teaches you how to use the note-taking app “Roam Research.”
- Validation of your idea = money in the bank
- It’s NOT people saying they’ll buy it, or that they’d love to try it when it comes out, it’s not them joining your email list either. $$$ in the bank only!
- Here are suggestions from Nat on validating ideas/building a product:
- Finding a niche: It should solve a problem. The better the problem/solution the easier it will be to sell. How do you validate your niche? Create something that’ll send a signal of validation (i.e. blog post, thread, Youtube video, TikTok, etc.).
- Outline what the product will look like: Don’t overbuild. The outline simplifies things. Use your outline as a way to get feedback/collect pre-orders. Lastly, an outline helps you clarify your thoughts before you start building.
- Collect pre-orders: MOST IMPORTANT STEP. If you don’t get any pre-orders, go back to step 1. Your pre-order announcement should create some kind of scarcity (25 person limit for early access). No following no, no problem. Use Reddit, Facebook groups, Twitter (+ other online communities).
- Building in public: Don’t shut off pre-orders. Build a simple landing page and raise the price (no scarcity). Your early customers can be great for feedback, testimonials, and accountability for yourself.
- Full launch <3
If you’re on Twitter at all, you’ll see people using this method all over the place. Some of my favorites at the moment are “Steph Smith“w/ her “ebook” and “Janel” with her “Newsletter OS” product. There are a ton of other examples on Twitter or on indiehackers.com <3
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