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without watching this - just the title resonates with me. A buddy and I have been working on a "portfolio of business concepts" along similar lines. Here's how
by andyidsinga 8y ago
without watching this - just the title resonates with me. A buddy and I have been working on a "portfolio of business concepts" along similar lines.
Here's how we're doing it:
1. we have a bunch of ideas we're nominally interested in.
2. an idea rises to the top of a sort of "lets do this" sentiment by virtue of us simply getting excited about it enough to have 2 or 3 solid hours of excited discussion about it; else they just fade away
3. for a idea that converts into a business we want to put out; we spend a short and intense period of time - a solid week maybe - working out the business vision, customer personas, reverse financials, basic financial model and how we want to do sales and marketing.
4. we quickly develop a "2 pager" website to represent the business and use as a landing zone for marketing.
5. goto 1
So far I'm both very excited about this - and its proving astonishingly difficult (marketing and lead generation!) - we've put out only one biz out so far, but have 2 more at stage 3.
edit/addition:
Why?
The theory is this: together we have a set of skills that we can apply to a variety of tech products and services and we have desire to build and run our own money making business.
That said, any single product service is likely to fail; but knowing if its failing or succeeding will take time - likely many months (or even a couple years?). The hope is that putting several businesses out there quickly will allow us to see momentum in 1 or 2 over that same period and then allow us to put more effort in the right place.
Separately, having several businesses out there provide for great conversation fodder when doing face to face marketing - hopefully increasing the odds in detecting interest and concepts that are permutations of the existing portfolio.