Latest EOFire Podcast S7E2: The Idea Phase

Here’s the latest Entrepreneur On Fire Podcast for your enjoyment!

The Idea Phase

Ideas are plentiful when you’re an entrepreneur.

But how many of these ideas are ones you take action on?

How many of these ideas are ones you get proof of concept for?

In this episode I talk about the most important thing John did after having his idea for The Freedom Journal: talk to others about it.

By talking to others about his idea, John made his idea REAL.

In addition, he gained invaluable feedback from his mastermind, his accountability group, and his friends.

He was able to get a lot of his questions answered, and in doing so was able to take his first step to turning his idea into reality.

That first step?

Getting proof of concept

Typically getting proof of concept comes in the form of asking your audience to pay you money for an idea.

This saves you time and a lot of potential frustration – plus, it guarantees that whatever you’re creating is actually something your audience wants and needs.

Perhaps our strongest example of proof of concept here at Entrepreneurs On Fire is Podcasters’ Paradise.

When we had the idea to create an online community and membership site to help teach others how to create, grow and monetize their own podcast, we did NOT start building it.

Instead, we shared our idea with our audience.

We shared our idea with our audience via email, on the podcast, and through live trainings.

On those live trainings we asked our audience to take out their wallet and pay us money for idea. If they agreed, THEN we would build Podcasters’ Paradise.

We were fully transparent with exactly what we were doing: no one was giving us money expecting to have immediate access to an online community and member site. And because they were investing in our idea, we gave them an “early bird” special.

One hundred of our founding members and a few weeks later, Podcasters’ Paradise launched.

But with The Freedom Journal, things were a bit different.

We didn’t follow this same proof of concept process.

Tune in to this episode to hear why – and how – we got proof of concept for The Freedom Journal.

Next time we’ll be talking about The Brainstorming and Planning Phase for how to go from idea to launch!

The post S7E2: The Idea Phase appeared first on Entrepreneurs on Fire with John Lee Dumas.




from | Inspiring interviews w/ today’s most successful Entrepreneurs