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The Idea Factory

Action Steps

(Keep a Word Document, Google Doc, or a Digital Journal to answer the Action Steps.)

 

 The Idea Factory (It all Starts with an Idea)

 

1-What are your top 5 Ideas for best  products or services?

 (-Create an Ideas list that contains ideas with 1 product or service. 

  -Ideas can be a bundle of products or services but only one SKEW.

   -Ideas can be new Ideas or an existing product or service you currently sell.)

Question 1 video link

 

2-What's your Best Idea on your top 5 list? 

Question 2 video link

 

3-What is the Largest Problem your product or service solves?

(List the problem and solution)

Question 3 video link

 

4-What are 3 other problems your product or service solves?

(List the problems and solutions)

Question 4 video link

5-Who are your top competitors found on Google?

(Paste links to their website)

Question 5 video link

 

6-Who are your top competitors found on YouTube

(Paste links to their videos)

Question 6 video link

7. What are the top Facebook groups where your potential customers will join?

Question 7 video link

8-What do you currently or will do better and different from your competitors?

Question 8 video link

9-Is your product or service Local, Regional, or National?

(The more potential customers you can serve the easier advertising will be to gain a positive return on Ad spend)

Question 9 video link

10-What does your product sell for

(Lower cost Items gather market share and create remarketing opportunities)

Question 10 video link

 

11-According to your above answers on your product or service price, how many units would you need to sell to generate $1million in sales?

Question 11 video link

 

12-How many units are you currently selling?

Question 12 video link

 

13-What is your product margin?

(Needs to have at least a 50% margin)

Question 13 video link

 

14-What question will your most likely customer be asking when searching YouTube for the answer?

(Write the question out exactly as you would be searching it if you were your own perfect customer. Describe)your customer avatar.)

Question 14 video link

15-When you copy and paste the question your customer will ask in YouTube search, what are the videos that are most applicable to your product or service?

(List the links to the top 3 most applicable videos here.)

Question 15 video link

 

16-How many views have the most applicable top videos received and how old are the videos?

Question 16 video link

 

17-What are your potential earnings from one YouTube campaign?

Math equation: 

    The average # of views of the top 3 most applicable videos multiplied by .1 equals your potential customers.

    Multiply your potential customers by your product price for your potential earnings on one build-out.

 

# of Views x .1 = Potential Customers     

 

Next  

 

Potential customers x Product price =  Potential YouTube campaign earnings

Question 17 video link

 

18-Does the Product or service pass the 7 figure test?

Question 18 video link

19.Does your product or service have a potential audience in Facebook groups and does it show up clearly as a problem and solution on Goggle

Question 19 video link

 

 

 

 

 

 

 

 

 

20-Why do you want to build this 7 figure business with this specific product?

(After answering the above question, ask why, to the response you have written. Continue answering the Why question with the answer you discover 50 times in a row.)

Question 20 video link

 

21-After seeing the potential customer size from one market and asking yourself WHY 50 times in a row do you still feel like this is your best Idea and do you want to spend time building out the machine that will sell 7 figures of this product or service?

 

(if you answered Yes, I want to move forward then let’s go to the next section!)

 

If you answered No, that's no problem just start over in this exercise and choose your next Idea.)

Question 21 video link

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