By Pat Flynn
“There are risks and costs to action. But they are far less than the long range risks of comfortable inaction.” – John F. Kennedy
The Airport Test – You are zapped into the future and you run into an old friend who asks you how your life is and you say “Amazing! Life couldn’t get any better.” The question you must ask yourself is what’s happening your life five years from now that’s made you respond like this? 51
“Fear is good. Like self-doubt, fear is an indicator. Fear tells us what we have to do. Remember our rule of thumb: The more scared we are of a work or calling, the more sure we can be that we have to do it.” – Steven Pressfield 89
Software is notorious for “feature creep” which means it is easy to keep adding new features and capabilities that end up diluting the overall strength of the product. The user experience ends up diminishing. 120
Business plan outlining: Write one page, one paragraph, and one sentence of your business plan. If you struggle to do any of these 3 then you have a problem. 126
How to validate a business idea: Buy coffee for the person behind you in line, this opens the door for conversation. “I’m an entrepreneur who is looking for honest feedback about a potential business idea and I love asking random people what they think to get an initial reaction. Do you mind if I take a minute to share? 139
“If you can define the problem better than your target customer, they will automatically assume you have the solution” – Jay Abraham 145
You don’t have to go big in the world to experience success. You just have to go big in somebody’s world. 151. You don’t need to change a million lives to make a million dollars. 151
If you find competitors that is a great thing. Someone has already done the validation heavy lifting for you. Find your own unique positioning in that space and out execute them 157
Always collect people’s names in emails so you can address them by first person. Never use “Hey Friend”. 168
“Intuition and experience are poor predictors of which products and businesses will be profitable…To get an accurate indicator of commercial viability, don’t ask people if they would buy – ask them to buy. The response to the second is the only one that matters.” – Tim Ferris 231
How to collect pre orders? Gumroad.com 267