Launch Tomorrow Triangle Audit
The Triangle Audit focusses on helping you define the fastest path to success with a new product or offering,
You can explore:
· How to identify your riskiest assumptions, and how to test it using a minimum viable product
· How to reach your target customers to validate your business idea
· How to choose metrics that will be helpful to monitor your own progress
· Bottlenecks which need to be cleared in order to speed up your progress
· Anything else related to getting an early stage business idea off the ground
Identify thousands, perhaps tens or hundreds of thousands of dollars of waste, untapped potential, and opportunities for profit in the product you are chasing.
You see, nearly all product ideas don’t arrive in the world in ideal and perfect form. With droves of customers just lining up around the corner, to find out more.
It’s not just marketing we’re talking about here. It’s having a solid product idea…and matching it cleanly to a specific market. This is pretty much the definition of innovation, yet many innovators feel more comfortable avoiding the market.
Myself included, when I first started out.
I tried creating a number of products which came from a well-meaning place of what people should be doing. Because many of the challenges they had existed because they weren’t. Well, the fact of the matter is…nobody wants to eat their broccoli. Even if it’s covered in chocolate.
If you spend a significant amount of time or money pursuing a business or product idea, you owe it to yourself to smoke test it thoroughly before committing fully. Whether you realize it or not, there are a number of chicken-and-egg logical loops you need to overcome, in order to start a new business.
Assumptions can be expensive
In an article in Harvard Business Review, researchers identified that most startups fail because of un-validated assumptions around customer, channel, or value proposition. Plowing in your life savings or years of your life into building a product without really thinking through these three aspects of a new product offering is risky, to say the least.
But there is a better way. Test those assumptions. Systematically. And the easiest way to do it is this:
The Launch Tomorrow triangle was designed to help you get beyond what “should” work, and into the world of what “will” work as an innovation.
By constructing tests like a landing page test, you gather actionable feedback from your market. There are loads of other tests you can run, so part of the discussion will be narrowing down exactly what would be most valuable to confirm. Your riskiest assumption. Here’s just a few from the demand side:
- Who the market is exactly.
- What their main challenges actually are.
- What they care about, enough to actually do something about it.
- How you can reach them.
And the riskiest assumption might be elsewhere anyway. Like in your product idea. Flying cars like the Jetsons? Anyone? Anyone?
While the language of the Triangle is based in B2C digital marketing, the principles can be adapted to pretty much any type of business. Doesn’t need to be consumer. Doesn’t need to be software. Doesn’t need to be using a landing page, as long as you are communicating the product idea effectively.
How this works
The audit process is designed to uncover and prioritize areas of your product vision that require validation. In preparation, you’ll fill out a questionnaire designed expressly for the purpose of helping your product achieve success. It is based on close to a decade of working with innovators and founders, to isolate the key areas of focus required to move ahead.
Later…during your 1 hour audit conversation, you will get expert feedback from Luke about how to test your product or business idea, and how to plan a test program before you launch it fully. The Triangle Audit focusses your attention. It helps you find the fastest path to success, by structuring your line of inquiry and defining where your riskiest assumptions are, as well as identifying the next steps for your process.
You can explore:
- How to identify your riskiest assumptions, and how to test it using a minimum viable product
- How to reach your target customers to validate your business idea
- How to choose metrics that will be helpful to monitor your own progress
- Bottlenecks which need to be cleared in order to speed up your progress
- Anything else related to getting an early stage business idea off the ground
If you are keen on getting on call with Luke to rattle some cages and really plan out a successful product launch, now is your chance.
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