Test Your Business Idea Without Wasting Time & Money With Pat Flynn

Online Entrepreneur, Author and Host – Pat Flynn

How to validate your biz idea even if you don’t have an audience. Why it’s not enough to do just product market validation. How to prevent being at the top of the wrong ladder. The simple Market Map exercise you should do before entering any niche. Why entering a market later can be a huge advantage.

Resources Mentioned in the Podcast:

Check out SmartPassiveIncome.com for more info!

Thanks so much for listening!

Transcript: Download

Video Transcription provided by GMR Transcription Services

 

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Hi I’m Jaime. Each and every week I bring you the top business advice from the people who know best.

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12 responses

  • As usual, a great interview. Thanks to both you and Pat for sharing your knowledge with us. Jamie, you asked for one take-away from this interview and this is mine. I’m nearing the end of my first career. I have enough time to retire from my government position, but really not enough passive income due to my sophomore daughter in college. More than that, I have a lot of energy still and have wanted to be an entrepreneur for as long as I can remember. I have had many, many ideas for businesses and some I’ve tried out with moderate success. The one thing that I’m looking forward to learning from “Will It Fly” is the concept of validating a business idea. Yes, I’ve read 4HWW several times but it doesn’t get deep into the methods of validating a business idea. I know people in my business of interest, I have a website, a blog, and some followers. But will this business idea have the potential to allow me to move to the next phase of my life? I love the concept of the book and am looking to get deeper into its methods. Thanks, Jack

  • Great interview! Pat said it well: survey, survey, survey! You can’t know enough your customer. And even when you think you’ve figured them out, it changes again. Segmentation is key. Isn’t marketing the action to present the right offer at the right time to the right people! Yes the right people.

  • Jaime, I love your interviews and the value they contain. Thank you once again for giving us an awesome interview with awesome content!

  • The big takeaway for me was when you both spoke about the need to step back and have a team! OMG! I have been hearing that for a while and this was like a huge wake-up call for me.
    Again, thank you Pat Flynn and Jaime (Tardy) Masters for all that you do. Fan for life!

  • Great interview and the biggest takeaway for me was to survey you current audience or those in your potential audience. AND if you want a “certain” mentor ask at least 3 times….or stalk until they say yes! Kidding. Great episode!

  • The biggest take-away from Pat Flynn is “the big differentiator . . . was just being completely open and honest, sharing my failures”.

    I am a real estate agent. How many of them EVER say something went wrong? They are always the leading-this or award-winning that. How about just being a human being?

  • Jaime, I was SO thrilled to finally see Pat on your show. It’s crazy, you talk about him so often that I think I convinced myself that he’d already been on. LOL

    He’s one of the first businesses that I came across when I started fumbling through this world of online businesses. Pat’s super smart so I was definitely listening attentively.

    My biggest takeaway was (because I work with people on their branding and a lot of times the brand doesn’t exist yet) the market map. I love how easy the concept of the three P’s was to grasp, which will in turn make it super easy for me to explain to someone else. For example, my client who’s launching a line of men’s accessories, specifically bowties and is feeling a little defeated because there’s a lot a players in the luxury bowtie market (who knew?!). I love how Pat positioned it as a benefit and advantage. And how by using the market map and the three P’s you’ll get a view and perspective of the market that even the people in it don’t have. Good stuff!

  • And yet Again… Wow!!!!!!!!!!!!! It seems like every time I get my Millionaire Monday, it is always hitting on the very thing I am needing to address on my journey. You have such a keen sense of what is needed. For instance, Mr Flynn’s quick note about using Google Docs for his book.. separating out the chapters etc. was 100% awesome and useful. I feel like each episode has Arrows pointing me in the right direction and leading me right where I need to go in order for me to obtain my goal of being an Eventual Millionaire.

    Awesome!!!!!!!!!!!

    Make it a Great Day Jaime

    • aww thats so awesome to hear!! 🙂

  • Great interview. The biggest take away for me was how to validate an idea with actual purchases, not just people saying they are interested. I’m trying to do this now and have many people who have “raised their hand” and showed interest, but I’ve made exactly a grand total of only $84 in purchases in 3 months. haha So, I’m excited to get Pat’s book to help me learn how to better validate and where to go next when I have a very small number of purchases, all from cold traffic. My guess, based on what he said, is perhaps I need to do more surveys. Once again, great interview. Thanks Jaime!

  • This was a great interview with so many great take-aways…as usual. My biggest was when Pat said, “You do and you learn and that’s what entrepreneurs do.” Few words…but loaded!

    Jaime, you and Pat were obviously on the same wavelength from the masterminds…almost finishing each other’s sentences. That brief interplay hit home to me that you’re both cognizant of something that isn’t so obvious. At all levels we all know heaps that we SHOULD be implementing, but we’re NOT for one reason or other. And acknowledging that… and getting comfortable with it…is part of the growth process.

    There is a huge nugget that neither of you spelled out but was right there staring me in the face from what you guys were NOT saying: Getting comfortable with that little nuance propels you to implementation FASTER. It helps you to identify what’s blocking you. You can stop ignoring it. It becomes less of a blind spot…which liberates you to haul ass.

    Precious!

  • I enjoyed this interview and look forward to reading Pat’s new book. My biggest take away was the notion that “fear” or self-doubt (Steven Pressfield)should make you stop, realize its relevance, and push you forward. Many times during other interviews and webinars Jaime, you talk about the need to work outside one’s comfort zone to make progress. The connection between these two ideas really “clicked” for me this time. It is my one action to address this week……

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