TSN #18 - Bare Minimum of Idea Testing

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Hey! 👋

Last week, we discussed evaluating new ideas. Now, let's focus on the minimum requirements needed to start testing those ideas. You want clarity in evaluation, but also pre-launch clarity so you can compare ideas as you proceed.

Today, I’m sharing something we can call a comprehensive pre-flight checklist.

Also, I’ve recently updated my recommendations list. If you are looking for some summer inspiration, check it out.

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Idea Development Minimum:

This checklist does not need to be followed in a precise order. Feel free to work on easier tasks first to gain clarity. I urge you to follow up on each of these steps in more detail with content on YouTube or elsewhere on the internet.

I recommend working on this in an Excel sheet so you can list more ideas one under the other.

1. Problem Definition Importance: A clear problem definition ensures you're solving a real need and not creating a solution in search of a problem. Write a detailed description of the problem you're solving, including who has this problem, how often, and its consequences. If the problem includes multiple steps, list them chronologically.

2. Value Proposition Importance: Your value proposition is the core of your offering and helps potential customers quickly understand why they should choose you. Craft a clear statement of how your solution solves the problem, following the format: "We help X do Y by Z". Ensure it addresses the key benefits and differentiators of your solution.

3. Irresistible Offer Importance: An irresistible offer reduces barriers to entry and encourages potential customers to take action. Can we create one? If yes, then create an offer that feels too good to refuse, basing it on real value rather than just discounts. Include a clear, compelling guarantee to reduce perceived risk. Consider using scarcity or urgency to drive action.

4. Initial Ideal Customer Profile (ICP) Importance: Knowing your ICP allows you to tailor your product, marketing, and sales efforts effectively. Be specific about your first customer. It should really be just one. Include details like age, job title, interests, and pain points. Create a day-in-the-life scenario for your ICP to better understand their needs and challenges.

5. Pricing Strategy Importance: Your pricing strategy affects not only your revenue but also how your product is perceived in the market. Set initial pricing and estimate average deal value based on thorough research and your value proposition. Consider value-based pricing instead of cost-plus to reflect the true worth of your solution. Research competitors but focus on differentiating your offering rather than just undercutting prices.

6. Sales Approach Importance: A well-planned sales approach helps you efficiently convert interest into actual customers. You will first make non scalable sales to get as much feedback as possible. Plan how you'll reach and close your first 5 customers, focusing on direct, personalized approaches. Utilize warm introductions and leverage your network for initial connections. Prepare a simple sales script or key talking points to guide your conversations effectively.

7. Expert/Customer Conversations Importance: These conversations provide real-world validation and insights that can refine your offering. Talk to at least 5 experts or potential customers, focusing on listening and learning rather than pitching. Use open-ended questions to gather deep insights. Look for patterns in their responses to validate or challenge your assumptions about the problem and solution.

8. Awareness Medium Importance: Consistent presence on the right platforms builds credibility and attracts potential customers, especially if you can highlight their problems. Can you build an awareness channel? If yes, what’s the plan?

9. Lead Magnet Importance: A lead magnet helps you capture contact information and begin nurturing potential customers. You will need one right from the beginning, probably going hand in hand with the previous point. Create one and ensure it provides quick wins to build trust with your audience.

10. Landing Page Importance: A well-designed landing page converts interest into action, be it sign-ups, downloads, or purchases. Use UnicornPlatform to create a simple, effective landing page that focuses on the problem, solution, and one clear call-to-action. Include social proof or testimonials if available to build credibility.

11. Next Steps Importance: Clear next steps keep you focused and moving forward in your testing process. Outline the next 5 detailed steps to start testing, being specific about actions and timelines. Set measurable goals for each step, such as the number of sign-ups or conversations. Plan how you'll gather and analyze feedback from each step to inform your next moves.

The 6-Week Testing Sprint:

This checklist can be completed in about six weeks, including securing initial sales, on your own. It's challenging but doable. In upcoming issues, we'll explore this process in more detail, breaking down each week's tasks. The goal is to provide a practical guide from idea to first customers.

By the way, you’ll have enough time to run at least two 6-week testing sprints until end of the year!

Time to start those cold calls!

See you in a week!

- Slavo