FREE Startup Lesson: Avoid Costly Mistakes When Launching

FREE Startup Lesson: Avoid Costly Mistakes When Launching

Plus: A Quiz and Let's Analyze a Startup Together

Author

Aron Meystedt
May 26, 2023

Read Time: 3-4 Minutes

Hello,
I hope this week was amazing.

In this newsletter:

🏫 A Free Video Lesson on Launching a Startup: Correct vs. Incorrect

🔬 Let’s Analyze a Validator AI Startup Together

📜 A Quiz About the Startup

🙂 Check out this free startup lesson we made. It’s a short video describing the correct (and incorrect) way to launch a startup. We provide an example of a startup and show the wrong way that most of us have chased our startup dreams. Then we discuss the correct way.

Click the video to watch it! 👇️ 

Or click the link here to view it: Launching a Startup Video

Next,

Let’s analyze the advice ValidatorAI.com gives for a startup idea. Let’s make something up. Let’s input this into the Validator AI prompt: I want to sell sneakers made out of carbon fiber.

Here is the advice and feedback that Validator AI gives:

Initial Things to Consider

  • There may not be a market for carbon fiber shoes.

  • Carbon fiber is an expensive material, so the shoes would likely be expensive to produce.

  • It might be difficult to manufacture shoes out of carbon fiber.

Let’s pause here. Our AI gave us three important things to consider. Is there demand, can this be profitable, will manufacturing these be difficult. See if you are picking up on which of these 3 we should figure out FIRST.


Select an answer: ⬇️ 

Which piece of advice that our AI gave is the first (and most important) thing you should find out?

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Correct Answer:

Notice the advice starts with the most important thing to consider: Is there a market for what you are creating? Is there any demand? Do buyers want this? It’s up to you to find this out, but our AI is telling us the one thing you need to find out first before you take any more steps.

Then the AI asks us two practical things:
Can these be manufactured in a way that still leaves room for profit?
Will it be possible to manufacture these?

But, before you dive into manufacturing issues of these shoes, you need to talk to potential customers to determine if there is any demand for what we want to make.

Next, here is the initial feedback that our AI gives

Initial Feedback

  • Make sure your target market is clear… who is your customer?

  • Consider the manufacturing process and if it is even feasible to produce a shoe from carbon fiber.

  • Make sure you have a clear understanding of the competition. Who else is making similar products? How will your shoes be different or better?

  • Have a clear sales and marketing strategy. How will you promote and sell your shoes?

One more quiz: What is the most important thing for you to answer FIRST from the above feedback? ⬇️ 

What is the most important thing for you to answer FIRST from the feedback shown here??

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Ok, you get it.

First, talk to customers and see if you are solving a problem. What are the customer’s needs and pains? Does your solution solve their problem? Is there ANY demand for what you want to create?

Just for research purposes, let’s check one more thing.

Validator AI gives us the steps to launch our carbon fiber shoe idea. Notice what it emphasizes as the first step:

Research the market: Before starting a new venture in the shoe manufacturing industry, it is important to thoroughly understand the industry and the target market. Conduct research into the current state of the shoe market, identify the trends and needs of the customer base, and analyze the competition within the industry.

We can give you the steps to launch at ValidatorAI.com — but it’s up to you to get out there and find out what your target customer thinks of your idea.

Again, check out our free video lesson on the correct way to launch a startup.
Avoid the mistakes I made in the past! 👇️ 


Let me know what you’re working on and where you need help!

Talk to you soon.

Aron

Check out our Tik Tok 👇️ 

PS: Send this to a friend that wants to launch a startup and follow us on social media below ⬇️Â