“Soon is not as good as now.” -Seth Godin
Today was all about goal setting, project planning and idea generation. The first step of any good project is to have a goal and a plan to get there. Our challenge guidelines set the goal as “>$1,000” in 30 days, but that’s not specific enough. We decided on this goal:
“Generate at least $1,500 in gross income in 30-days or less while always keeping a net positive income.”
One of the interesting parts of that goal is the “always keeping a net positive income.” They say you have to spend money to make money, but that’s different than going negative. We’re going to test that approach.
Second, we laid out a plan for 30-days. Thirty days is not much time, so we have to be efficient and effective as well as adhering as closely as possible to the plan. We don’t have much time for project slip.
We have a goal and a plan. What’s next? Ideas.
Because we started this project without even an idea in mind, we generated a list of ideas. We talked through things we liked, problems we could solve, things we hated, trending products, high profit industries, etc. We also had an interesting discussion about how you pick an idea. There seem to be two primary approaches:
(1) You make a list of ideas then put in some time researching them. The goal is to try to predict the product that will perform the best of the ideas listed.
(2) You make a list of ideas and then cross off the “bad” ones – whatever that means. Then you just pick any of the ideas. It doesn’t matter which one you pick, just pick one. This approach assumes that we are not able to predict the best product, so why spend time trying to do so.
With any business idea, validation is important. Probably even more so if you take the second approach. We didn’t decide on a product. We’ll let our product ideas sink in over night and save the product selection for tomorrow.