Late Checkout - Why your next business idea is a tweet
Before we begin, new podcast is out talking about multipreneurship with Jesse Pujji who’s running a holdco called GatewayX after selling his bootstrapped company for 8 figures. Super tactical convo on multipreneurship 101. Listen on Apple or Listen on Spotify There are no ads in my podcast or this newsletter but… If you enjoy either, share it on Twitter so I know to keep recording and writing. I have a new mindset shift. I treat every social post as a potential minimum viable product. It’s the tip of an iceberg for a potential million dollar business opportunity. How I got here: One of the largest YouTubers told me something I can’t get out of my head:
Most people would think to do it in reverse — think of a good idea, write a script, record & edit, tease the video, and give it the perfect title and thumbnail before publishing. But this makes perfect sense, and here’s why: they’ll tweet the thumbnail out just to gauge the reaction. Or even just share the concept. Do people love it or hate it? If the audience can’t wait to see more, then he has the green light. The video is already validated before the creator has even started making it. Isn’t that the goal of a minimum viable product? You’re gauging if people want the product you built. What better and cheap way to do it via a free social post from the comfort of your home? When I was coming up in tech in 2011, The Lean Startup by Eric Ries was the bible. It talked about lean aka quick/cheap ways to validate and build products. And basically popularized this concept of “minimum viable product”. A dozen years after 'The Lean Startup' hit the shelves, I'm convinced that using social posts as the Minimum Viable Product (MVP) represents the evolution and new face of the lean startup methodology. I’ll give you an example of how I’ve recently been testing this: Lately, I’ve been obsessed with this concept called Multipreneurship. I’ve written about it before. To test if there is a business opportunity around it.
It was clear that something had struck a chord. Sometimes I write something and I hear silence. This time was a loud, resounding something is here. So, I went on to acquire the domain Multipreneurship.com. There's more to come on that in the future, but the crux is, there's likely a full-fledged business waiting to be built around this MVP. Now, diving deeper into this, we can identify a framework that I call the 'Reverse Validation Matrix.' Most creators work from the top down, creating content, and then seeking validation. In contrast, successful YouTubers employ a bottom-up approach, first securing validation and then producing content. Another framework is the 'Social Post MVP' – a lean, efficient, and accessible way to gauge market interest for potential business ventures. It's as simple as putting your idea into the world via a tweet or a post and monitoring the response. This strategy is a game-changer, giving you tangible market validation at zero cost. In summary, we're witnessing a paradigm shift in how we validate ideas, with social posts becoming the new MVPs in this 'Lean Startup 2.0' era. So next time you craft a social post, remember, you might just be shaping the foundations of your next big venture. ❤️ Greg’s bookmarks:5 things I found interesting this week:
Ways to work together?
Thanks for reading this week’s newsletterI read every comment on YouTube and Twitter. So, see you on the internet. Be well, Greg Isenberg |
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