In the previous episode about colliding ideas with reality we talked about how to tell business ideas that are likely to succeed from those that aren't. An important part of this process is to turn vague ideas into specific numbers.
Instead of thinking "I'll need a lot of traffic" we want to think "I'll need X visitors and a Y% conversion rate". But how do you come up with these numbers for a business that doesn't exist yet?
In this episode, we'll teach you how to use approximation to figure out as quickly as possible what ideas are worth pursuing and be able to implement it rapidly, without spending a lot of time trying to be precise, or being careless and making bad business decisions.
Listen in, we're about to save you a lot of time!
Let's go for a hike! At the end of the hike, we'll get to the top of a beautiful mountain with breathtaking views of the crystal clear lake below and the pine forest that surrounds it.
Well, we also want you to take your most durable boots, food for 3 days, a first aid kit and a rifle that can stop an angry bear. Then you might make it.
You see, coming up with a fantastic business idea is like imagining watching the sunset from the mountain top. It's fun to dream of the end goal but the road that leads there is way harder than you imagine. If you aren't prepared for a hard journey, you'll never get there.
In this episode, we're giving you the best strategy we know to prevent you from losing all your time, money and self-respect by starting on a business or project that just won't work.
We're about to destroy your dreams and wipe that enthusiastic smile off of your face... and you'll be grateful for it.