Here’s what my current strategy looks like. This will no doubt change over time as I figure out what works and what doesn’t. I’ll update this post as I go, so that whatever I learn, you learn.
Ideas: Generate as many ideas as possible. An ideal idea would have the following characteristics:
- Should solve a problem/pain/need for a specific group of people
- Best if this specific group of people includes me
- Online preferred over offline (cheap startup costs, less infrastructure needed)
- Potential to be automated (time is my most valuable resource)
- Product creation fast and inexpensive (time and money in short supply)
- Product preferred over a service (more easily automated, less staff)
Validation: Test early. Prove that people actually want to buy what I’m selling. I won’t create a product until I know I have customers. My default play here is to put up a simple website with an offering and test the response to the offer by sending traffic via google adwords or facebook ads.
Processes: In order to generate multiple ideas, create multiple websites, create multiple products etc, I will need to develop a set of step by step procedures for these tasks so that over time I can refine my methods, in order to execute quicker and produce repeatable results.
Outsourcing: As the year goes on I will have multiple projects running at once and my workload will grow. Outsourcing of routine but time consuming technical tasks will allow me to get more valuable work done. I plan to use sites such as elance.com to find freelancers. A good set of procedures for my daily and weekly tasks will be crucial for relaying to them exactly what I want done.
Learning: I’m reporting on all my successes and failures to readers here on the blog. By reporting to you I’m forced to analyse what went wrong, or what worked and why, so the blog also acts as a powerful learning tool for myself. I also need YOU to tell me where I’m going wrong, how to improve my systems, what I can do better. I am a beginner after all.