<ul><li class="ql-align-justify">Is the market growing or dying?</li><li class="ql-align-justify">How many potential customers are there?</li></ul>

Step 1: Find $1 Million worth of customer

<ul><li class="ql-align-justify">Find the size of market, cost of your product/ service, and total value</li><li class="ql-align-justify">Size of Market X Cost of Product/ Service = Market opportunity</li><li class="ql-align-justify">See if it’s a million-dollar idea or not</li></ul>

Step 2: Is this a million-dollar opportunities?

<ul><li class="ql-align-justify">Ffind three customers in 48 hours who will give you money for your idea</li><li class="ql-align-justify">You’re allowed only 48 hours</li><li class="ql-align-justify">Collect money upfront</li></ul>

Validate your business idea by getting paid

<ul><li class="ql-align-justify">Use social media to build an audience who will support you for life</li><li class="ql-align-justify">Pick a platform (e.g. Instagram, LinkedIn, Facebook, etc)</li><li class="ql-align-justify">Create content for your core circle</li><li class="ql-align-justify">Send emails with effective copywriting</li><li class="ql-align-justify">Get your first subscribers with a landing page</li></ul>

Make money while you sleep

<ul><li class="ql-align-justify">A checklist that can be used to properly perform something</li><li class="ql-align-justify">Atemplate for determining something (e.g. a business’s profit margin)</li><li class="ql-align-justify">An advanced guide that gives further into the details of a subject</li><li class="ql-align-justify">x ideas to do something</li></ul>

Create and use a lead that magnet gives people an incentive to join your email list

<ul><li class="ql-align-justify">Pick one business idea</li><li class="ql-align-justify">Make sure it’s a million-dollar opportunity</li><li class="ql-align-justify">Confirm your business idea is profitable</li></ul>

The million-dollar opportunity challenge

Million Dollar Weekend” is the perfect book to turn you from wantrepreneur to entrepreneur in forty-eight hours

Focus on Zero to $1, get that first dollar, that will create your momentum and build your belief in what you’re working on

<ul><li class="ql-align-justify">The best entrepreneurs are the most dissatisfied. They’re always thinking of how things can be better</li><li class="ql-align-justify">The crucial first step toward entrepreneurship is to study your own happiness and to think of solutions (aka business opportunities) for you to sell</li></ul>

Become a problem seeker

<ul><li class="ql-align-justify">Know your target profit (e.g. $1,000,000), profit per unit sold, and total sales needed</li><li class="ql-align-justify">Revenue - Cost = Profit</li><li class="ql-align-justify">Target Profit ÷ Profit per unit sold = Total sales needed</li><li class="ql-align-justify">Ask yourself, if this is going to be a one-off purchase, something customers buyu here and there when they want to consume it, or can you make it a monthly recurring sale?</li><li class="ql-align-justify">It’s always better to be in the reorder business</li></ul>

Step3: The one-minute business model

Step 1: Find $1 Million worth of customerStep 2: Is this a million-dollar opportunities?Step3: The one-minute business model

The one-minute business model

<ul><li class="ql-align-justify">Who you are selling to?</li><li class="ql-align-justify">What problem you’re solving?</li><li class="ql-align-justify">Where they are?</li></ul>

Start with 3Ws

Customers want solutions, not ideas

<ul><li class="ql-align-justify">Ask someone you know for a dollar investment in you and your future business</li><li class="ql-align-justify">Ask one person you respect for a business idea</li><li class="ql-align-justify">Choose your freedom number, an attainable number (money) that you need to enjoy the freedom you want</li></ul>

Start it

<ul><li class="ql-align-justify">Direct preselling</li><li class="ql-align-justify">Use marketplaces</li><li class="ql-align-justify">Use landing pages</li></ul>

Three methods to validate any business idea

<ul><li class="ql-align-justify">Solve your own problems</li><li class="ql-align-justify">Thing about problems that you have</li><li class="ql-align-justify">Bestsellers are your best friends</li><li class="ql-align-justify">Think about some accessorising ideas for existing bestselling products</li><li class="ql-align-justify">Visit a marketplace</li><li class="ql-align-justify">Find ideas by studying marketplaces where people are trying to spend money. It can be Facebook marketplace, Etsy, or other local/ global marketplaces</li><li class="ql-align-justify">Look at search engines queries</li><li class="ql-align-justify">Find our things that other people also search for online</li></ul>

The idea generators

Average order value: Increase the amount someone purchaseFrequency: Increase how often someone will buy your servicePrice point: Increase or decrease your price point to affect total salesCustomer type: Approach a more Lucrative/ wealthier customer segmentProduct line: Add additional products to make the business more attractive to startAdd-on services: If you’re selling a product like cookies, can you offer a service like setting up birthday parties or cooking at the person’s home?

6 ways for you to reach the goal easier

There are two mistakes one can make along the road to truth … not going all the way, and not starting.

<ul><li class="ql-align-justify">Fear of starting</li><li class="ql-align-justify">Fear of asking</li></ul>

2 main fears that hold people back

<ul><li class="ql-align-justify">Look for something working in one category and bring it to another</li><li class="ql-align-justify">When in doubts, solve your own problems. If you are willing to pay for a solution, it’s likely others are, too</li></ul>

Finding million-dollar ideas

<ul><li class="ql-align-justify">Set a single hyper-focused exact goal</li><li class="ql-align-justify">Create your marketing experiment list</li><li class="ql-align-justify">Double down on what works</li><li class="ql-align-justify">Make your first 100 customers happier</li></ul>

The growth machine

<ul><li class="ql-align-justify">Find a problem people are having that you can solve</li><li class="ql-align-justify">Craft an irresistible solution whose million-dollar-plus potential is backed by simple market research</li><li class="ql-align-justify">Spend NO MONEY to quickly validate whether your idea is the real deal (or not) by preselling it before you build it</li></ul>

Three steps of the Million Dollar Weekend Process

AN INSTANT NEW YORK TIMES BESTSELLER The founder and CEO of AppSumo.com, Noah Kagan, knows how to launch a seven-figure business in a single weekend—and he’s done it seven times. Million Dollar Weekend will show you how. Now is the best time in history for entrepreneurship. More than ever, the world needs new businesses and it’s cheaper than ever to create them. And, let’s be frank: most day jobs suck. People spend too much time doing too much work for too little money—and they know it. They want out. But, if the barriers to starting a business are getting lower and lower, why is it SO HARD TO DO for SO MANY PEOPLE? Why are there so many wantrepreneurs playing at business on social media and so few entrepreneurs actually running them? Ask yourself: <ul><li>Do you want to work for yourself, or start a side-hustle, but it all feels too risky and unpredictable? </li><li>Have you spent time or money on things like websites and logos, but still have no customers? </li><li>Are you brainstorming endlessly and waiting for the perfect idea to strike? </li></ul> All those Frequent Excuses are solvable. The plan is simple—so simple it can be completed in a single weekend, but so powerful that Kagan has used it to build seven businesses now worth more than $1 million: <ul><li>Find your Creator’s Courage to overcome your fear and have fun! </li><li>Use the "Million Dollar Weekend" Process to get customers EXCITED to give you money. </li><li>Automate your business so it can grow while you sleep. </li></ul> By Monday, you’ll have a market-tested, scalable business idea and you’ll be a entrepreneur on the path to seven figures. Million Dollar Weekend is the path to creating your dream life and attaining financial freedom. LFG.

The growth machine

Similar ideas to The growth machine

The Ideas Machine Technique - James Altucher

Work on one improvement at a time

Start by setting a small goal.