This just in: “market research” shows that Readers of Shoestring 101 are more intelligent and overall attractive.
HEYA GORGEOUS!
đ
Validate Your Business Idea: WHY and HOW
Today’s post is about how to throw your idea out there for an internet biz, then “VALIDATE” it to see if it has real merit. Also, an update on the 30DC (30 Day, $1,000 Challenge) so you can see how I’m doing on Day Three.
Other posts on this site about validating business:
How to Validate Your Small Business Idea With Craigslist
Validate Your Business Idea With the 3 Most Overlooked Social Media Sites
What is validation, you might ask? One of the obstacles to small business startups has always been tainted data from your friends and relatives, even well-meaning business contacts. Because of their prior relationship with you, the feedback that they give about your “great new idea” is totally unreliable.
Jealous, close-minded friends or relatives may shoot down your perfectly good business idea.
And just as bad… maybe even WORSE… they might nod their heads vigorously saying, “Oh, YEAH… DO that… What a GREAT IDEA… I think it’ll sell oodles and oodles.”
Even when the idea is a complete FLOP.
I actually believe that this false encouragement is worse than naysaying. ‘Cause I almost NEVER pay any attention to naysayers anyway. If anything, it spurs me on to a greater endeavor when somebody says I can’t do something.
Faithful are the wounds of a friend; but the kisses of an enemy are deceitful. Proverbs 27:6
Of course, it does make sense to get feedback about your product or service. But even “market research” has proven to be flawed. Remember those guys that would stop you in the mall and offer you $5 for your opinion about something? I do:
An attractive young lady with a clipboard would have you try these new flavors of Skittles, then those. You were supposed to try one, eat a cracker in between, then try the other. Then give your “honest opinion” as  a consumer as to which of the two you might buy.
Know why this form of market research is flawed? Because young guys like me would be thinking which of the Skittle choices would be more likely to get me the girl’s phone number đ
Use Fiverr to see if what you’ve got is worth buying
A better way to get the right numbers for your market research would be to do some actual selling of your product. I’ve done this for dozens of business ideas. Most recently -the newest 30 Day, $1,000 Challenge is testing its legs first on Fiverr.
The Most Reliable Form of Market Research
Here’s how to really, for real do effective research for fun and profit:
Don’t ask your friends, “do you think people might buy this?”
Instead, ask them TO buy it.
Then ask strangers TO buy it also.
When the strangers (that don’t owe you a dang thang)… buy your product or service with their own dollars… then you’ll know that you have a real shot with your business.
And you can then begin to scale it and later, automate it.
If they don’t buy… then rejoice! You’ve been saved from a monumental heartbreak, hours of wasted time, oodles of startup capital.
Then you can say, “Whew. Close one. Okay, NEXT!”
So Tell Me About This Fiverr Thing
In case you haven’t heard about Fiverr, it’s time to catch you up a little bit.
Fiverr is only the 64th most popular website in the U.S., haven’t you heard? And it’s the number ONE platform anywhere for marketing services to and from people all over the world… all for just a “Fiver“, or $5.
Now, if you haven’t seen what you can get done on Fiverr.com it’s quite a treat. Best way is to send you there!
If you haven’t been, I recommend highly that you go to Fiverr.com and browse through all the categories. Fiverr has been a Godsend to me as a busy marketer and producer of books and blogs.
At Fiverr I got the cover design of my Kindle Book Get Paid TODAY! Structure Your Business Startup to be Profitable from Day ONE… done for only five smackaroos.
Someone in Bangladesh formatted that same book (about 40,000 words, plus charts and pictures!) for Kindle for just five clams.
Oh, and I was able to write said Kindle book by “speaking” a lot of the book into a microphone… which a lady from the Philippines transcribed into an editable Word doc for me for guess how much. Mmm-hmm. Fi’ dollah.
(Y’know? Editing about 25,000 already-captured  words and expanding on it is a helluva quicker process for writing a book than staring at a blank screen. I found that writing sucks! But it’s easy to simply edit your already-in-print thoughts… and clean ’em up. If you’re a writer the transcription gigs are worth their weight in fine chocolate.)
Anyhoo, the point is that I’m very familiar with the buying side of Fiverr, having gone there for a number of tasks that I was either not talented enough or had the time to do.
But on Fiverr You Only Make Chump Change..?
Aggh. Aww, Lordy Pete. You’re missing the point.
I’m not on Fiverr to become some kind low-pay lackey… making less than it takes to buy a good latte… and having to wait two weeks to get it.
(Fiverr takes one dollarr of your fiverr as commish, then escrows it for two weeks to avoid online scams)
No, I’m using Fiverr to see if the service(s) I come up with are worth paying anything for.
See, Fiverr will validate my biz idea(s)Â as well as the ad copy that I write for them by seeing if someone will actually fork over real cash for ’em.
MEANWHILE!
We’re deep in Shoestring Step TWO: Find Out the W’s. What people Want, Who they are, Where to find them, hoW to solve their problems.
This sets us up to reach more and more of the same kind of customer, while getting paid to do it.
Most of any legit business’ income comes from repeat biz or referrals. I’ll bet you MORE than five bucks that this platform is the same. And while some tasks take some time to perform, others can be outsourced or even automated. So one five-dollar order may turn into ten, fifteen… even hundreds of dollars of revenue.
ALSO! Bonus:
Though Fiverr prohibits sellers from contacting buyers directly, or even making one’s email address available… I know that I’VE personally tracked down folks that have done services there and asked them to do similar things that they don’t have listed for sale.
F’rexample, say I audit someone’s sales copy for a Fiverr… that customer just might track me down later on to do some actual copywriting.
And for that I’ll charge more than one portrait of Honest Abe Lincoln. đ
So while the plan is NOT to break any rules, I’m on Fiverr to get paid to get leads for my business. Read about that principle here:
Reversing the Traditonal Marketing Model: Get PAID per Lead Instead of the Other Way Around
Turns Out I’m Not the Only Fiverr Fan
How do you eat an elephant? One bite at a time. Make a small fortune, five dollars at a time.
I just read an article by Nick Loper of Side Hustle Nation in which Nick used Fiverr to earn $920 in a ten day period. NOICE, Nick! If you want to check out a site that’s similar in its theme and mission to Shoestring101, go on over to Nick’s blog and start with his Fiverr post. Oh, and WHILE you’re there, consider leaving a thoughtful comment at the bottom of the page. We bloggers LOVE to hear from our esteemed Readers and Nick is no exception.
http://www.sidehustlenation.com/fiverr-homepage-earned-920-in-10-days
My First Fiverr Gig in the 30 Day Challenge
SO the niche I’m serving is folks that need help with marketing funnels.
This niche is one in which the customers can grow along with me; I help a newbie to internet marketing to make some actual bank, then I offer him more and more similar gigs from my handful of profitable, yet quick and easy-to-do services.
My EVIL marketing plans are taking shape…
Okay Steppers! Day THREE of this particular 30 day, $1,000 Challenge. I know you’re rooting for me. See you out there, and
Keep Stepping!
Kurt
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Fiverr is a good platform to start your freelancing career but remember nothing happens overnight so you go to wait for you turn to flourish on Fiverr.
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I’m writing an article for our blog on everything that you can get done on Fiverr for a small business. Wondering if you might like to contribute and would love to link back to your site as well.
I’m looking only for your first hand experiences (what you have actually done), a story of how it worked, a link to the Fiverr gig that you used and liked, and how it generally worked out for you. Also it would be great to link to your site and have a photo of you if possible.
Let me know if you would like to be part of the article. It’s for our blog http://biz30.timedoctor.com/
Thanks!
Awesome! Fiverr is how I got my foot in the door as a freelance online content writer! I have not offered that particular gig in quite a while because once I built up enough positive reviews & a decent customer base (yes, it IS possible to build business relationships through Fiverr) I decided to offer my writing services for a much more competitive wage. You’re right, the Fiverr marketplace is a great place to test the waters of an idea. Great tip!
Twitter: shoestring101
says:
Yayy!
Not only can you sell service business thru Fiverr, but info products and “real” products too. Get this: another blog post on this site, http://www.shoestring101.com/seo-ninja-7-ways-to-hack-local-search/ has actually SOLD on Fiverr to the tune of $180 (so far).
That’s a LOT of $5 chunks, but it only took me about the time it takes to reply to your comment to earn it đ
FIverr has shown me that there are a lot of people willing to pay for this information. SO I’m going to charge MORE for it. Muahahaha…
Keep Stepping,
Kurt
Kurt Frankenberg recently posted…5 Steps to YOUR Killer USP (Unique Selling Proposition)
Twitter: kimseasok
says:
Thanks for sharing…! this is really great post about small business marketing. I would agree with you. Using outsources is great to reduce small business marketing and performance cost.
You know..? I have tried some of Fiverr service, but I am not gain effective from those because they all spammy. However, I found that I did the mistake with choose those Fiverr’s gigs.
I start to learnt about those and I could do that better and I think using outsources is great ways for small business marketing.
Thanks for sharing..! đ
Kimsea Sok recently posted…How to Start Best Small Business With Blogging
Twitter: shoestring101
says:
Thank YOU, Kimsea!
Yes, just like with ANY site or service you have to wade through the bad to get to the good. But I’ve had a number of great experience with Fiverr providers and always remember to review and often tip them.
THIS article was less about using Fiverr providers than it was about using Fiverr to flush out your market. Once you know what verbage and tactics sell best to your particular market, you can seek them on other (better paying) platforms.
Plus, BONUS! You can use your reviews as testimonials.
If you can’t sell it on Fiverr, chances are that you don’t have a viable service or the way that you are selling is ineffective, but it didn’t cost you anything to find out this information.
Keep Stepping,
Kurt
Twitter: JefferyWSchultz
says:
Do you run the risk of someone stealing your ides?Jeff
Twitter: shoestring101
says:
Not really! As Lewis Howes once said, “There are no million dollar ideas… only million dollar execution.”
Everything I talk about here on Shoestring101 has existed before in one form or another, and someone some day will put what I have said more simply, more nobly, and be more inspiring. But until the day comes and the torch is passed, I’ll be one of the voices telling people, “You can do it. YOU can start your own thing and be your own boss, and not just you but the world will be a better place for it.”
If you see someone “stealin my ideas” just tell them to run with ’em better than I have and go inspire more people to escape the rat race.
Keep Stepping,
Kurt
kurtf recently posted…Use Fiverr to Validate Your Small Business Idea
Im still a little green about all this but get it. I think I would try using your gig in the future. Thanks for time and effort to share this info with us…………….terryindallas
Twitter: shoestring101
says:
Thanks Terry! Here’s are my present gigs on Fiverr:
https://www.fiverr.com/funnelvision/write-or-rewrite-a-high-converting-sales-page
https://www.fiverr.com/funnelvision/make-a-quick-video-with-a-clickable-call-to-action-button
Either of these should help you with getting sales or conversions.
Keep Stepping,
Kurt
kurtf recently posted…Use Fiverr to Validate Your Small Business Idea
Twitter: shoestring101
says:
Hey those Gigs have been changed and the account closed. So here are the links you would want to use:
https://www.fiverr.com/shoestring101/analyze-your-sales-funnel-and-make-it-perform-better
and
https://www.fiverr.com/shoestring101/analyze-your-web-copy-and-make-it-perform-better
also,
https://www.fiverr.com/shoestring101/make-your-web-copy-convert-better-by-20-percent-or-more
Thanks!
kurtf recently posted…How to Get What You Want
Twitter: francivile
says:
Kurt, I would really like to place an order at your Fiverr account! I submitted an offer and was told that I would have a better chance for results by listing with a video
I’m offering a digital report after finding out that’s a time saving way to fill orders, except I haven’t received any orders!
Fran
Fran Civile recently posted…Advertising Your Home Business
Twitter: shoestring101
says:
Order away Fran! Here are the current gigs:
https://www.fiverr.com/funnelvision/write-or-rewrite-a-high-converting-sales-page
https://www.fiverr.com/funnelvision/make-a-quick-video-with-a-clickable-call-to-action-button
I also post one with the title, “I Will Write or Rewrite a High Converting Sales Page” but it was suspended for reasons I don’t know (yet). If you need a sales page written or rewritten, hit me up at kurt at shoestring101 dot com đ
Keep Stepping,
Kurt
kurtf recently posted…Use Fiverr to Validate Your Small Business Idea
Twitter: dkendrafran
says:
Usually there’s a short message with the suspension. Often it’s a minor (to us) reason. I had a gig suspended once. Turned out the photo I submitted “didn’t match the offer.” Well, no; it was a pic I’d created, thinking I could use it on all my gigs. Nope! So, the reason is likely there on the page.
D Kendra Francesco recently posted…âIn Todayâs Competitive Marketâ Doesnât Exist
Twitter: shoestring101
says:
Hey those Gigs have been changed and the account closed. So here are the links you would want to use:
https://www.fiverr.com/shoestring101/analyze-your-sales-funnel-and-make-it-perform-better
and
https://www.fiverr.com/shoestring101/analyze-your-web-copy-and-make-it-perform-better
also,
https://www.fiverr.com/shoestring101/make-your-web-copy-convert-better-by-20-percent-or-more
Thanks!
kurtf recently posted…How to Get What You Want
Twitter: dkendrafran
says:
Oh dear Goddess… Apparently, I missed the point, just as ol’ Petey did. I saw Fiverr as a failed money-making place (I failed). Now, thanks to your decidedly different mind-set, I can say, “Yes, I failed to make any money, but I succeeded in finding ideas that didn’t work.”
And, the best things? Those unworkable ideas cost me only a minimal amount of time to set up, AND no actual cash whatsoever. (Unlike some other sites, which charge you no matter what you list, and regardless whether it sells or not.)
I’m definitely staying tuned in to THIS bat-channel!
D Kendra Francesco recently posted…âIn Todayâs Competitive Marketâ Doesnât Exist
Twitter: shoestring101
says:
YES! Again, it’s about validation. That is, testing your idea to see if indeed it will sell. If it does, AWESOME. Now start tweaking and improving the efficiency, the price, the conversion rate… whatever needs improving. But if it’s a dead horse don’t beat it.
I’ve used Fiverr, Craigslist, eBay, and other platforms as much to talk me OUT of an idea as to pursue one. Like you said, it’s free to do on Fiverr.
Thanks for following along D Kendra! We’re on day FIVE and no $$ yet, but I’m not swayed from the mission. See you on the blogs.
Keep Stepping,
Kurt
kurtf recently posted…Use Fiverr to Validate Your Small Business Idea