5 Steps to Start Your First Business

Ali Abdaal
10 May 202317:01

Summary

TLDRThe video script outlines a step-by-step method for starting a business, known as the Castle Method, aimed at beginners. It emphasizes the importance of ideation, creating a minimum viable product (MVP) for lead generation, and achieving product-market fit. The script shares practical advice on validating business ideas through free offerings like webinars or scorecards, and highlights the significance of lead generation as the foundation for business success. It also touches on scaling up the business once a solid customer base is established.

Takeaways

  • ๐Ÿš€ Starting a business is a manageable step-by-step process.
  • ๐Ÿ“ˆ The Castle method is introduced as a guide for beginners to build a business.
  • ๐Ÿ’ก Ideation involves generating multiple business ideas and selecting the best one.
  • ๐Ÿ“š Daniel Priestley's book 'Oversubscribed' is highly recommended for business knowledge.
  • ๐Ÿ” Focus on solving a problem for customers rather than personal interests.
  • ๐ŸŽฏ The Hedgehog concept suggests finding a business idea at the intersection of market demand, personal expertise, and passion.
  • ๐Ÿš€ Assemble a Minimum Viable Product (MVP) for lead generation, not immediate profit.
  • ๐Ÿ†“ Offer something of value for free to generate leads and test market interest.
  • ๐Ÿ“Š Use tools like scorecards or free webinars to validate your business idea.
  • ๐Ÿ”„ Product-Market Fit is achieved by adjusting the product to meet market needs.
  • ๐Ÿ“ˆ Once product-market fit is achieved, focus on marketing, sales, and scaling the business.

Q & A

  • What is the Castle method for building a business?

    -The Castle method is a step-by-step process for starting a business, which includes conceptualizing, assembling a minimum viable product (MVP), shaping the product towards product-market fit, launching the product, and expanding and scaling up the business.

  • Why is it important to generate a lot of ideas during the ideation phase?

    -Generating a lot of ideas helps to ensure that you consider various possibilities and can choose the best idea or combination of ideas that have potential in the market and align with your personal interests and expertise.

  • What is the Hedgehog concept mentioned in the script?

    -The Hedgehog concept, from Jim Collins' book 'Good to Great,' suggests finding the intersection between what the market wants, what you could potentially be the best at, and what you personally enjoy. This intersection is where a business can truly flourish.

  • What is a minimum viable product (MVP) and its purpose?

    -An MVP is a simplified version of a product that is designed to generate leads and test the market's interest without investing extensive time and resources. Its primary goal is to validate the business idea and generate indicators of interest.

  • How can one create a free webinar as an MVP?

    -A free webinar can be created by offering valuable content related to the business idea. For example, in the case of a financial services business, one could offer a free webinar teaching about current trends in the financial markets.

  • What is a scorecard and how can it be used as an MVP?

    -A scorecard is an online quiz or assessment that can be used to engage potential customers, validate the business idea, and generate leads. It asks questions related to the business concept and provides a result that can lead to a call to action, such as a free consultation or product trial.

  • What is product-market fit and why is it crucial?

    -Product-market fit refers to adjusting the product to meet theๅธ‚ๅœบ้œ€ๆฑ‚. It's crucial because it ensures that the product being offered is something that customers actually want and are willing to pay for, leading to a successful and sustainable business.

  • How does one achieve product-market fit?

    -Achieving product-market fit involves refining the product based on feedback and interactions with early customers. This can involve adjusting the product's features, pricing, or even the entire business model to better align with what the market is looking for.

  • What are the three steps to trigger every sale according to the script?

    -The three steps to trigger every sale are emotion, logic, and urgency. A successful business combines these elements in the right doses to persuade customers to make a purchase.

  • What resources are recommended for learning more about marketing principles?

    -The script recommends '100 Million Dollar Offers' by Alex Hormozi, 'DotCom Secrets' by Russell Brunson, and 'Oversubscribed' by Daniel Priestley for learning more about marketing principles and getting customers to buy your product.

  • What is the role of a CEO coach in scaling a business?

    -A CEO coach can provide guidance and expertise in scaling a business, helping with strategic planning, expansion into new markets or locations, and overcoming challenges that arise during the growth phase.

Outlines

00:00

๐Ÿš€ Starting a Business: The Castle Method

This paragraph introduces the concept of starting a business as a manageable step-by-step process, contrary to common beliefs about entrepreneurial challenges. The speaker shares insights from their own experience and interviews with successful entrepreneurs, emphasizing the importance of following a structured approach. The video aims to guide beginners through the Castle method, which promises to help them create a minimum viable product (MVP) within two hours. The speaker also mentions the availability of a free template and resources to aid in the process.

05:01

๐Ÿ’ก Ideation and Conceptualization

The speaker discusses the first step of the Castle method, which is ideation. This involves generating multiple business ideas and selecting the best ones based on market demand and personal interest. The concept of the Hedgehog concept from Jim Collins' book 'Good to Great' is introduced, which suggests finding an intersection between what the market wants, what one can be the best at, and what one enjoys. The speaker also highlights the importance of focusing on solving a customer problem and using artificial intelligence to refine business ideas and value propositions.

10:02

๐Ÿ› ๏ธ Assembling Your Minimum Viable Product (MVP)

The second step of the Castle method is to assemble an MVP with the primary goal of lead generation. The speaker suggests offering something of value for free to gauge market interest. Two recommended MVPs are a free webinar or a scorecard, which is an online quiz designed to validate the business idea. The speaker demonstrates how to create a scorecard using a specific app and emphasizes the importance of not charging customers from the start but instead focusing on lead generation.

15:04

๐ŸŽฏ Shaping Your Product for Product-Market Fit

The third step involves shaping the product to meet the market's needs, which is referred to as product-market fit. The speaker explains that this may require adjusting the product based on customer feedback and market research. An example is given where the speaker's wand-making business pivots from selling custom wands to offering an online course on wand lore. The speaker also shares a personal experience from their YouTuber Academy, where they had to adjust their product based on the feedback from their target audience.

๐Ÿš€ Launching and Scaling Your Business

The final steps of the Castle method are launching the product and scaling the business. The speaker explains that after achieving product-market fit, the focus should be on marketing and sales, which involves creating a sense of emotion, logic, and urgency in potential customers. The speaker also mentions the use of paid ads, influencers, and other marketing strategies. They acknowledge that scaling a business to multiple locations or markets is a challenging phase that few businesses reach and suggest seeking a business coach for guidance. The speaker recommends several books for further learning and directs viewers to a podcast interview with Daniel Priestley for more in-depth information.

Mindmap

Keywords

๐Ÿ’กEntrepreneurial

Refers to the quality or spirit of creating, organizing, and managing a business venture, often involving innovation and risk. In the video, the speaker emphasizes that starting a business is a step-by-step process, suggesting that entrepreneurial skills can be learned and applied rather than being innate talents.

๐Ÿ’กMinimum Viable Product (MVP)

An MVP is a product with just enough features to allow early customers to use it and provide feedback for further development. The video highlights the importance of creating an MVP for lead generation and market validation, rather than investing heavily in a full product upfront.

๐Ÿ’กLead Generation

The process of attracting and converting potential customers into leads through various marketing strategies. In the context of the video, lead generation is presented as a fundamental step in the business creation process, with the speaker emphasizing that everything is downstream of lead generation.

๐Ÿ’กProduct-Market Fit

A condition where a product meets the wants and needs of a target market. The video discusses the importance of adjusting the product to align with market demands, which is a critical step in the business development process.

๐Ÿ’กScaling

The process of increasing the size or volume of a business operation. In the video, scaling is presented as a final step after achieving product-market fit, involving expanding to new locations or markets.

๐Ÿ’กIdeation

The process of generating new ideas or concepts. In the video, ideation is the first step in the Castle method of building a business, where one comes up with multiple business ideas before selecting the most promising one.

๐Ÿ’กHedgehog Concept

A strategic framework from Jim Collins' book 'Good to Great', which suggests that a business should focus on what it can be the best at, what drives its economic engine, and what it is deeply passionate about. The video uses this concept to guide the selection of a business idea.

๐Ÿ’กArtificial Intelligence (AI)

A branch of computer science that aims to create systems capable of performing tasks that typically require human intelligence. In the video, AI is mentioned as a tool that can assist in generating business ideas and refining value propositions.

๐Ÿ’กScorecard Marketing

A marketing strategy that involves creating online quizzes or assessments to engage potential customers and generate leads. The video presents scorecards as a type of MVP that can be used to validate a business idea and attract potential customers.

๐Ÿ’กZero Commission Investing

A type of investment platform that allows users to trade stocks and other securities without paying a commission fee. The video mentions Trading 212 as an example of a platform that offers zero commission investing, which can be beneficial for investors looking to manage their portfolios without additional costs.

Highlights

Starting a business is a step-by-step process that can be manageable if you follow the right steps.

The Castle method is introduced as a systematic approach to building a business, particularly aimed at beginners.

Ideation is the first step, which involves generating multiple business ideas and selecting the best one based on market demand and personal interest.

Daniel Priestley's book 'Oversubscribed' is highly recommended for its insights into starting and growing businesses.

The Hedgehog concept from Jim Collins' book 'Good to Great' suggests finding the intersection between market needs, personal potential for excellence, and personal enjoyment.

The second step of the Castle method is to assemble a minimum viable product (MVP) focused on lead generation rather than immediate sales.

Lead generation is crucial as it is the foundation for all business activities, and the MVP should be designed to attract leads for free.

The Castle method emphasizes the importance of offering something of value for free to validate the business idea and generate interest.

Scorecards and free webinars are recommended as effective MVPs for lead generation and market validation.

The third step in the Castle method is to shape the product towards product-market fit, which involves adjusting the product based on customer feedback and market research.

The fourth step is launching the product, which includes marketing efforts and scaling the business after achieving product-market fit.

The fifth and final step is to expand and scale up the business, which may involve multiple locations, new products, or new markets.

The video provides a free template with instructions and resources to help viewers follow the Castle method.

The presenter shares personal experiences and lessons learned from building a multi-million dollar business.

The video also discusses the importance of focusing on solving a problem for customers rather than being solely profit-driven.

The presenter recommends books like '100 Million Dollar Offers' and 'DotCom Secrets' for advanced marketing strategies.

A deep dive podcast interview with Daniel Priestley is mentioned for further insights into the Castle method and business strategies.

Transcripts

play00:00

starting a business can sound like an

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impossible task you might think that you

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don't have what it takes you might think

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you're not very entrepreneurial and you

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might know the stat that 9 out of 10

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startups fail

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but what I've learned over the

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years of building my own multi-million

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dollar business and interviewing dozens

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of successful entrepreneurs is that

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starting a business is actually a

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step-by-step process and if you follow

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those steps then actually things can

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become a lot more manageable okay so it

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might be a case of copy pasting hey

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friends welcome back to the channel and

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to another episode of money Club the

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ongoing Series where we discuss the

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principles strategies and tools that can

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help us on our shared Journey towards

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Financial Independence and building a

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life that we love in this video I want

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to introduce you to the step-by-step

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Castle method of building a business and

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this video is going to be aimed at

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beginners so if you've been thinking of

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starting a business but you maybe

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haven't started one yet then I promise

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if you follow the first two steps of

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this method you will create a working

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minimum viable product hopefully in

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under two hours throughout this video

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we're going to be designing a business

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completely from scratch and I'm going to

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be going through the castle method on

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this template over here and if you want

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this template it is available completely

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for free along alongside a Google doc

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version if you don't like notion that'll

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be linked down below we've got the

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difference between J curve and non-jco

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businesses you've got all of my

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highlights from this book over

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subscribed and a bunch of other

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resources that'll help you because this

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video is going to be ridiculously long

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and so we're just going to pile all the

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other information straight into that

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template again it's completely free just

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hit the link down below and you can

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download it if you like so let's start

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with step one of the castle method and

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that is conceptualize and to illustrate

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this I want to tell you a little bit

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about Cedric

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the strapping young rad must be Cedric

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am I right Cedric is an 18 year old who

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has just graduated from school and he

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realizes that he wants the freedom fun

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and flexibility and the money that

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building his own business can lend him

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his family haven't had much money

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growing up and he's seen the power of

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financial Independence and so he really

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wants to start his first business so one

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step is ideation ideations coming out

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with at least 10 ideas and then figuring

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out which one would be the best or which

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two or three ideas would be the best so

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that's an actual process called ideation

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um and most people jump from first idea

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to action rather than coming up with

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nine other ideas and saying well why did

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I choose that one that's Daniel

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Priestley he's a Serial entrepreneur and

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he's also a coach for CEOs and for

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business owners and he's written a bunch

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of books that are all about starting and

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growing businesses and Daniel's book

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oversubscribed as my most highlighted

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book of all time and the knowledge I got

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from this book has directly translated

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to over two million dollars worth of

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sales for my own business so Step One is

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ideation so what Cedric needs to do and

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what you need to do if you're starting a

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business is just generate lots and lots

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of ideas for what possible business you

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could start if you wanted to and if you

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look inside our template we've got some

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more instructions here that you can

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follow around brainstorming researching

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the market identifying the problem that

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you're solving developing a unique value

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proposition and ultimately refining your

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idea and because Cedric is intelligent

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he understands the power of artificial

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intelligence to help him come up with

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his business ideas and to refine his

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value proposition as well now at this

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point you want to look through your list

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of business ideas and you want to try

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and combine two different things you

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want to combine what you think there

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might be a genuine market for with what

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you personally might be potentially

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interested in or what you have personal

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expertise in and this is an idea from

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Jim Collins book good to great and it's

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called the Hedgehog concept and it's

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basically this Venn diagram intersection

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between the things that the market wants

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the thing that you could potentially be

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the best in the world at and the thing

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that you personally enjoy and if you can

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find something in the intersection of

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that Venn diagram that's when you really

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have a business that could flourish but

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within this Hedgehog concept especially

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if you're starting your first business

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by far the most important thing is

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trying to focus on the problem that

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you're solving for your customers trying

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to focus on being of service rather than

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being selfish Cedric might decide for

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example that he really wants to start

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this magical Fitness Studio but if he

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looks at the market can realize is that

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actually no one really cares about

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magical Fitness and there's tons and

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tons of Fitness studios in the area even

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if Cedric is super interested in Fitness

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himself it's probably a pretty bad idea

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to start that particular business

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because it's a real uphill battle to get

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customers for that particular product

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and so thinking in terms of what he's

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interested in also what there's a market

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for Cedric looks at his list of business

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ideas and he thinks oh wand Maker's

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Workshop what if he starts a business

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where he could potentially sell custom

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wants to people who want custom ones and

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Cedric liked this idea because when he

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was in school he just found himself

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being quite interested in the idea of

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wand lore and started reading books

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about it and so there's a little bit of

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a passion there as well and now Cedric

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comes up with a name and because again

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he's just using AI because it's just a

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fairly quick thing he decides you know

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what let's go for the one Studio that is

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Cedric's new business now step two of

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the castle method is to assemble your

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minimum viable product and again this is

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where so many people get it wrong people

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think that to start a business you have

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to put in so much work to build a

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product and then once you put in six

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months a year two years of effort

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building a product then you prefer it to

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the market and you hope that people will

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come but the castle method and the

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method that Daniel Priestley talks about

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and in fact the method that every

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startup who is intelligent in the world

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follows these days is starting off by

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building a minimum viable product where

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the objective is lead generation so you

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want a very simple MVP it's just lead

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generation at first so all you're trying

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to do is can I generate leads because

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everything is Downstream from lead

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generation and this is a golden law of

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business everything is Downstream of

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lead generation if you cannot generate

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leads for a business there is no way in

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hell you're ever going to be able to

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generate sales for a business and a lead

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is basically any indicator of Interest

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so the point of your minimum viable

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product your MVP is to generate those

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leads and the way you get those

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indicators of interest from the market

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is by giving away something of value for

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free and seeing if people are

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potentially interested in it I

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personally recommend giving the thing

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away for free rather than charging for

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it because if it's free and you can't

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get people to sign up for it there's no

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way in hell you're ever going to be able

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to get people to pay you for anything so

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what are the MVPs that you can create

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for free well there's a bunch of

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different options but there's two that I

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would recommend and that is either a

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scorecard or a free webinar so in the

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case of one Studio they could if they

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wanted to create a free webinar and they

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could do it on one making techniques and

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on the history of one making or

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something like that let's say you don't

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want to do the one thing and maybe you

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want to start a business offering

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Financial Services now you probably

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wouldn't just go to the market and say

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hey buy my financial services you might

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offer a free webinar that teaches people

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about the current trends in the finance

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markets and because it's free people are

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more likely to sign up for it you've got

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your indicators of Interest you've got

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your lead generation and you've

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validated your business idea so it

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doesn't take long to put one of these

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webinars together and again in this

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template we've got a bunch of different

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tools that you can use to schedule them

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completely for free and you can use that

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as a way of testing your business idea

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but one thing I've started to use

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recently in my business is to create

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scorecard minimum viable product now my

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scorecard is basically a glorified

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online quiz and these are great because

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a people love filling in online quizzes

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and B you can ask a load of questions to

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validate your business idea so we are

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just going to create one of these

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scorecards for Cedric's one studio and

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I'm going to show you how easy this is

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to do now if you want you can do this on

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a Google form or a type form or anything

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but there is a specifically designed app

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called a score app which is actually a

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company owned by Daniel Priestley and he

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actually has a book on it called

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scorecard marketing and that's the app

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that we've been for the last six months

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I'll put a link down below and it's also

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in the template for a free 30-day trial

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if you want to try this out but I'm

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going to log into my account and you can

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see we've got productivity quiz

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podcaster Brandon come side Hustle

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YouTube growth scorecard The Wheel of

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Life like we use scorecards for a lot of

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things to generate leads for our own

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business and our own products but we're

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going to create a scorecard for the one

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studio and I'm going to show you how

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easy this is so let's hit create

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scorecard and we're going to use the AI

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Setup Wizard by the way quick heads up

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score app are not sponsoring this video

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but I am an investor in the product I

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invested in it like two weeks ago

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because I just freaking love it because

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we've been using it so much so feel free

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to explore the market if you like but if

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you end up using score app then it looks

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good on me because it shows that I'm a

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good investor because I've plugged the

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product or something like that whatever

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you can do whatever you want this is one

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way of generating quizzes or scorecards

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for your product but you can use dozens

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of other software as well if you really

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want anyway I'm going to create a

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scorecard so my primary goal for the

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scorecard is to generate new leads and I

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actually think something like a witch

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wander is right for you scorecard would

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make perfect sense so I want a single

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outcome I want to tell the customer what

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want type they're going to go for how

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would I describe my business Uh custom

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wand

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how would you describe your target

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audience

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Harry Potter fans cosplay Enthusiast

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magical performance yeah that's called a

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Harry Potter fans why not what do you

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want to help your clients improve

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achieve or prevent by using the

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scorecard find your perfect one match is

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pretty good now choose what you'd like

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the possible outcomes to be here are

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some suggested categories and let's keep

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it at three we're allowing people to

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either end up with Dragonheart string

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Phoenix Feather or unicorn hair just to

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keep things simple next Phoenix Feather

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bravery and card Above All Else Fierce

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loyalty and let's go Justice and

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fairness why not that's for Phoenix

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Feather gave another feather

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just one other okay good so I've got my

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single outcome find your perfect one

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match Dragon heartstring Phoenix for the

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Unicorn hair nine questions create my

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scorecard let's see what happens

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discover your perfect one match with a

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profile test answer nine questions we'll

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send you a personal report sick all

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right let's go take the scorecard boom

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enter my details

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this is clever because when you're doing

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lead generation and you ask it to enter

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the details initially it means you get

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the contact details so it's nice

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obviously there's like contention all

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that kind of stuff which you'll you can

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ask for at the end of it do you have a

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strong desire for power yes do you

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believe that the end justifies the means

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hell yes do you believe in loyalty above

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all this yeah why not do you value

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honesty and integrity nope do you

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believe in second chances hell no and

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are you compassionate towards other lull

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absolutely not congratulations on

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finding the perfect one match Dragon

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heartstring this is your profile and now

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when I was doing this in the screen

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recording that didn't record I adjusted

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this text to basically say create a

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custom call to action are you interested

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in a custom wand if you'd like to order

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a really nice beautiful custom one let's

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jump on a quick no obligation 100 free

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calendly is really good you can

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literally just get people to hop on a 10

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minute Zoom call with you and it's

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completely free but literally in a very

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small amount of time we have created a

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minimum viable product and this is where

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so many people go wrong with businesses

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I've seen so many friends and colleagues

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try and start businesses where they try

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and charge people from day one don't

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charge people from day one offer them

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Downstream of lead generation now once

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you've made loads of money by using a

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business like this then you're going to

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need some way to invest that money and

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that's why the sponsor of this video

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trading 212 is a fantastic online

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video and let's continue now we are on

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to step three which is shape your

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product towards product Market fit

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product Market fit is adjusting the

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product to meet the market so you

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imagined the product would be red but

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everyone wants it in blue and you're

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like uh okay as much as I thought it

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should be red it needs to be blue now

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generally when people are building

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actual startups in the real world they

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spend several months if not sometimes

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years on continuing to refine their

play11:26

product until they've got product Market

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fit in my wand maker business I might

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think that people really want custom

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ones and will be willing to pay a

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hundred dollars for them but as I hop on

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Zoom calls with people and try and sell

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my custom ones for 100 I realize people

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don't want that people want a really

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basic one because they want to learn

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about the introduction to WAND lore in

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the first place and so my product might

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actually change instead of it being I

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sell custom ones I might realize through

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Market validation and market research

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actually I should make a one craft

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school because people are way more

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likely to buy an online course in one

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lore and then I can upsell them on my

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fancy custom one further down the line

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rather than get them to buy a fancy one

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straight up and that's something I

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wouldn't have known had I not actually

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validated my idea by talking to my

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customers and testing the idea out we

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really noticed this in my own business

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when I created my part-time YouTuber

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Academy so we started off our minimum

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viable product was actually just a quiz

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at the time score app wasn't a thing so

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we just used a Google form we asked

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people when it comes to starting your

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YouTube channel what's your biggest

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challenge now the product I had in my

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mind I thought I was going to make a

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course that taught people with over a

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hundred thousand subscribers how to

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scale their systems and delegate and

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hire a team and build a business around

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their YouTube channel but when we put

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the scorecard out on my email list and

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on Twitter turns out 99 of people had

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not even started a YouTube channel in

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the first place and like 0.01 of people

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that filled out the survey had more than

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a hundred thousand subscribers and so

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that was completely like whoa okay

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I thought I was building a product for a

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tiny tiny tiny component of the market

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which is what they needed but turns out

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actually my audience is broadly full of

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noobs no offense when it comes to

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YouTube and so the product molded to

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become way more beginner friendly

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because in my mind the product was very

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different but what the market told me

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was something else and so we got product

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Market fit and then the part-time

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YouTuber Academy ended up being a

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multi-million dollar product now there

play13:04

are some other caveats here like this is

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a really really huge topic how to start

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a business um I want to talk about Jacob

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versus non-jco businesses and what type

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of businesses that you should start but

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this video is going to be way too long

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for the algorithm I mean it's probably

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still too long and all of the

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information that I want to say is now

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inside this template again it's

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completely free there's a link to my

play13:20

website down below you can just download

play13:21

the notion template so that will give

play13:22

you the five-step castle framework and

play13:24

also way more information around the

play13:25

other stuff that I couldn't quite

play13:27

squeeze into this video because we have

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to keep we have to keep the time step

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four is to launch your product I.E go to

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market go to market is once you've got

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product Market fit and now you're ready

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to launch and you're ready to put

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marketing Firepower behind your product

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and at this point you might be spending

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money on paid ads you might be hiring

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influencers like me to Shell your

play13:44

product on their YouTube channels you

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might be going out and I don't know old

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school knocking on doors and like trying

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to sell the product to people you're

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doing that kind of stuff to get more

play13:51

people in because you validated your

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idea and you've molded your product

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based on a small number of customers

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that you had earlier on um the other

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thing that triggers every single sale is

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a combination of emotion logic and

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urgency so

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um some and I've found that all

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businesses are only really naturally

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good at one so some businesses naturally

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are good at generating emotion in their

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customers but not logic or urgency some

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businesses are really good with the

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logical side of what you should buy but

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they're not very good at the emotion or

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the urgency and great businesses they

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understand how to do logic emotion and

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urgency in the right doses so a company

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like apple for example is really good at

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all of these different things they

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create logic because it makes you feel

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like I'm buying the new iPhone for a

play14:32

reason because of all the marketing

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materials that say oh hello the camera

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is X percent better than last time they

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create emotion because all of the stuff

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in the Apple Keynotes and the ads make

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you feel an emotional sense of like ah I

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really need to have this iPhone so then

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I can be a cool person and they create

play14:46

urgency by allowing you to pre-order

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even your pre-order because you know

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that the iPhone your iPhone is going to

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sell out and therefore there's a sense

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of like ah I need to have this now

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rather than further down the line and

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then step five E is expand and scale up

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scale is multiple locations now we're

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gonna go out in so we might start in

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London and then go out to Los Angeles

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and New York in different locations so

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we're going to go scale is normally new

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products new markets new territories

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this is a place where very few people

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get to because very few businesses

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actually get to the point where they

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even launch because people get hamstrung

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along the way by not giving things away

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for free and scale is basically multiple

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locations multiple markets this is stuff

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that I am just now dipping my toes into

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but I'm nowhere near an expert on it and

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so I don't really want to kind of overex

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my expertise on this particular area

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this is where it's really helpful to

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have a CEO coach or a business coach we

play15:32

spend thousands of dollars a month on my

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own CEO coach Eric pateker he's great

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he's got a bunch of businesses in the

play15:37

past he's really helping us with scaling

play15:38

ours like all of that fun stuff comes in

play15:40

if you're interested in learning more

play15:41

about these sort of marketing principles

play15:42

and how to get customers to buy your

play15:44

product then two amazing books I'd

play15:45

recommend the first is 100 million

play15:47

dollar offers by Alex formosi and the

play15:48

second is.com Secrets by Russell Brunson

play15:50

and also if you have a launch based

play15:52

business over subscribed by Dan Priestly

play15:53

which as I said is my most highlighted

play15:55

book of all time for business stuff

play15:56

those books will teach you a lot of what

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you need to know to get your product out

play15:59

there but I suspect if you're watching

play16:01

this video you probably haven't started

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a business yet it will be it'll be too

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much this book is not aimed at beginners

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start by conceptualizing by assembling

play16:09

your MVP and by getting product Market

play16:10

fit and once you've done that and you've

play16:12

got some customers for your product

play16:13

which you've molded to meet the needs of

play16:15

the market at that point you can worry

play16:16

about copywriting and sales and

play16:18

marketing and emotion logic urgency and

play16:20

all this kind of stuff but the main

play16:21

thing to remember from this video is

play16:22

that every single thing is Downstream of

play16:23

lead generation find a way to validate

play16:26

your business idea by getting customers

play16:28

in for free via a scorecard or a webinar

play16:30

landing page or whatever you want and

play16:32

then once you've validated your business

play16:33

idea actually have conversations with

play16:35

your customers to get product Market fit

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and then you can worry about all the

play16:38

stuff later and we do talk in way more

play16:40

detail about all of these steps in the

play16:41

long form podcast interview that I did

play16:43

with Daniel Priestley so that is on my

play16:44

deep dive podcast Channel over here you

play16:46

can also find it on iTunes Spotify Apple

play16:48

podcast wherever you get your podcast

play16:49

but that is sick so if you liked this

play16:51

video and you've gotten to the end of it

play16:52

you will absolutely love that episode

play16:53

the comments on it are like oh my God I

play16:55

can't believe this is free so check it

play16:56

out completely for free over there thank

play16:57

you so much for watching I hope you like

play16:58

this video and I'll see you hopefully in

play16:59

the next one bye

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Related Tags
EntrepreneurshipBusiness LaunchCastle MethodIdeationMVPLead GenerationProduct Market FitScalingInvestingTrading 212