If you are a full-time professional who has limited time
OR
If you are a person with limited funds
This letter is for you.
Do you remember about the person that I mentioned in my last letter who asked for a survey?
His client was looking to build an eCommerce marketplace for beauty products – without any relevant background. Just because he saw opportunity in it.
I won’t comment on whether it’s right or wrong in general.
But I can say it’s not the right approach for those who want to get started in this industry without sufficient funds or time.
It’s good to start with an MVP – Minimum Viable Product. It’s a basic version of something with just enough features for early customers to use and provide feedback on.
➡️ Instead of building next Dominos, it’s viable to have a food truck
➡️ Instead of building next Ola, it’s viable to have a fleet of few cabs
➡️ Instead of building next Byju’s, it’s viable to start with a simple course
➡️ Instead of building next Zomato, it’s viable to build a team of delivery guys for a restaurant
➡️ Instead of building next Nykaa, it’s viable to source a unique product and sell on marketplace
I can give endless examples.
3 BIG ADVANTAGES –
1) It gives you experience at a smaller scale by knowing exact problems you are going to solve
2) It helps you judge whether your idea is going to be a long term game for you or not
3) MVPs can save your time, money and resources.
This helps you to create SMART Goals.
✍ TODAY’S ACTION ITEM
Whatever you want to do, it can be as simple as
👉 One page website, instead of entire website
👉 One in-depth blog, instead of writing a book
👉 Side project, instead of directly looking to serve clients
👉 Simple Whatsapp group, instead of a community forum
👉 One YouTube video, instead of launching a complete course
👉 Freelance, instead of building tech products to solve a problem
👉 One Gumroad product, instead of making a full eCommerce store
👉 One Google Sheet database, instead of creating a directory website
👉 One Google Sheet with formula templates, instead of building a SaaS platform
Tell me your big idea and I can help you start it at a smaller level.
🌐 RELATED RESOURCES
I built most of my products using the same way. These are the tools that I mostly use –
Google Docs – for research, outlines and strategies
Google Sheets – for database and for noting things down
OBS – for creating videos and recording screen for my tutorial videos and courses
ClipChamp – for editing videos
Canva – for graphic designing for visuals
WordPress – for designing websites for projects
✔ WHAT I DID THIS WEEK
Remember I mentioned running Meta ads for the client? Happy to share that we got 10 leads from that. Client is happy for instant results 🤩
I won’t consider it as success till some leads actually get converted and we get ROI positive. If done, I will share the case study.
Took another small project and delivered it over the weekend where I just had to help a SaaS company to grow their Whatsapp community. Their target was easy so wrapped it up quickly 😊
Started with wedding shopping, peeps! 1 of the infinite tasks is done from the checklist. It was big though 🙃
Published a video about a product. And 1 social post talking about how social media algorithms are changing now.
Also, I also organized the playlists on my YouTube channel. As I am seeing the expected traction there, I am giving it a direction as I thought before starting it.
And finally, watched a Black Mirror episode.
Election results declared this week. What is your reaction? Happy or Sad? Or no reaction at all.
Anything exciting that you did this week?