3 Stories- How to Validate Ideas Without Scale

3 Stories: How to Validate Ideas (Without Scale)

Hey, internet entrepreneur!

This week, we’re kicking off a new series of videos.

The theme is around 3 trending stories, along with corresponding tips.

Watch this now!

Transcript:

– – Hello internet business person. We’re going to talk about three trending stories, recent stories, and tips that turn these stories into actionable steps.

This is for you if you are someone who creates stuff or operates services, you consider yourself as an entrepreneur or as a builder or as a maker, but most critically, you are interested in having your stuff found by other human beings online.

Why? Because for you, the endgame is not just to build, at least for this project.

Your endgame for what you’re building right now is to have human beings enjoy and use your work. What do you expect here today? We’re going to talk about trending stories, hot recent stories, that are popular online.

And number two, we’re not going to end with interesting stuff, we’re also going to discuss actionable advice that are carried out in five minutes.

So it’s triple interesting and triple actionable for you internet business builder. My name is Allan and I am founder of NorthStories.io.

Let’s talk about story number one.

There is this popular question online, which is, “Why are most internet startups “like WhatsApp, Twitter, and Instagram “not very profitable despite being very popular?” The question here implies a sense of wonder, which is, “Should I also build “yet another Twitter or WhatsApp? “But it sounds like a difficult game. “You’re not earning so much money,” right?

First of all, I wanna say that most of these players don’t actually get as big as WhatsApp, Instagram, or Twitter.

Second of all, it’s much more difficult these days. The same rules don’t anymore apply versus when WhatsApp and Twitter were created.

These days, because it’s far easier to create software, the barrier to entry is very low.

So the new skill that’s now required isn’t any more like before, which is the ability to build excellent software. That’s now a basic commodity. That’s not your differentiation anymore.

So your job is to talk to a friend who gives you difficult feedback.

Why?

The hardest problem these days is validation.

You wanna make sure that what you build tends to get useful in this very competitive market and how do you do that?

Talk to that friend, who tends to get harsh when it comes to giving you, maybe dating advice or career advice. They just go straight to the point. They’re just not shy about it.

And the reason is they care about you and they’re looking out for you along with their knowledge, their wisdom, their understanding of your needs.

Next story. “What are the reasons that B2B lead generation tends to fail?”

The reason why B2B lead generation tends to fail is we lack to target real actionable immediate results.

While there is something to be said about planting seeds that will later work out, we should have real, tangible deadlines.

So if I’m planting seeds for my lead generation and I’m studying Pinterest marketing or SlideShare or whatever marketing channel, I should actually have a very specific target number and target metric, for example, signups, and have a deadline for it, something that is within arm’s reach, so we’re not forever in exploration mode, ADHD mode.

There has to be a win criteria.

Next story, another top story very recently is stop using scalability as an excuse not to lead.

Thank you very much, Frank of HubSpot, for this story on how to inspire a team by having one-to-one conversations.

And I wanna take this to a different place which is internet marketing.

When you’re building a new product and trying to validate your new idea, I highly recommend doing the unscalable thing, which is, for example, doing a live video pitch. Just get your phone out, do the selfie video, and go live on Periscope.

What will allow you to do this is the idea that you’re gonna delete the video. So the problem here is there’s so much analysis paralysis.

Either it’s within developing your organization or building a new product, the problem here is founders, entrepreneurs, makers, are too afraid to do things that don’t scale but when you’re in validation mode, you’re not in scalable.

You are in validation mode and the way for you to get to validate your pitch, your new product, is to talk about it, to have an audience, to do a FaceTime call, to do a Periscope, and to just experience how it is to sell your product and see how people react, and then delete the video.

So recap. I want you to choose a five-minute action, one of the three that we talked about today.

The first is to get to that friend who tends to give you feedback that you don’t tend to like but this is the time when you’re being a sadist and you’re expecting harsh words and you’re gonna suck it up for the sake of business validation.

Number two, you wanna set a deadline for a real result, whether it’s a new product or a new marketing channel, you want to target not just, “Hey, we’re gonna do these activities,” also target outcomes. Outcomes are things like traffic, clicks, engagement, retweets, likes, shares, and whatever it might be.

And I highly suggest that don’t allow the deadline to be beyond 90 days or else, that’s gonna be forgotten and not gonna be taken seriously. If anything, try even just 30 days, right?

Target traffic generation campaign and see within 30 days if there are immediate results and then based on the results, you can determine if you can persevere with that certain direction.

Number three, when you’re validating a certain action, either it’s developing your organization or a new feature idea, you wanna do things that do not scale.

Don’t be too fancy with your time because people who are much farther in the journey compared to yourself, have been doing things that do not scale, so why are you too fancy about creating videos that would not be recorded and save and for people to see forever, right?

The idea of scale creates paralysis and if anything, the experience of doing something sticks to the person who experienced it.

So let’s say you do a live Periscope and only three people would have viewed it, they didn’t engage, but you would have carried that experience with you and that would educate your next move.

All right, so those are three pieces of advice and I’d like you to take action and once you do, if and only if you do, do tell me about it on Twitter and let us chat about your action and I’m happy to give you advice regarding your marketing activities.

This has been Allan from NorthStories.io and keep up over here. Have a great day.

Aaaand that’s this week’s installment of 3 Stories.

Stay tuned over here for next week’s episode!