Tuesday, 9 October 2012

The Foundation Review Day 2

Okay, so today is the big day and I am super excited. Now there are many people who may be skeptical about the foundation and the values that it instills. I ask those people one thing.

1. Over your lifetime, how much money have you spent on the next big thing, the quick money scheme and the bright shiny objects; and if you have spent all that money, what was your return on investment ?

If you look at what the foundation brings to the table, it runs much deeper than any product you will have purchased in the past. The foundation does not tell you it will make you $1,000,000 working 5 minutes per day and spending the rest of the day drinking mojitos by the beach. It does not fool you into making a quick emotion based purchase, well maybe a little. What it does offer you is, a structured work your ass off way of creating a sustainable business that will be around for years if done correctly.

What I like about the foundations model is, that you are held accountable and have others vying to become the best at whatever market they choose to enter. Now if that doesn't make you want to better yourself by becoming better than everybody else, then the foundation is not for you.

So what have I done to date that constitutes taking action and allows me to believe that the foundation is a good fit for me.

When I first heard Dane talking about idea extraction, this notion blew me away. I had, for years, watched shows like Dragons Den, or Shark Tank or any other show that showed entrepreneurs pitching what they thought would be the next big thing that would make the investors even more money. So the thought of turning this on its head was fascinating. Many of the people that you see on these shows mentioned above, have done very little, if any at all, market research before spending thousands of euro or dollars creating their product.

Imagine this then, going to a market, talking to some business owners within that market and letting THEM TELL YOU what they need. It is remarkable how simple it is, and how most people do not do it. In fact Dane was the first person I have ever heard even talking about it.

So what have I done thus far?

I have emailed almost 200 car dealers in Ireland asking a couple of questions about their biggest pain points. I have been blown away by the responses, although not a huge amount, VERY insightful. I have a meeting with a car dealer who has a huge dealership in Ireland and he has already given me the idea for this product. It has a huge market both here and the UK and is a very painful problem both here and there.

Alright, I'm out for now. Please leave a comment below letting me know what you think or if there is anything I can do to help you on your journey. Remember one thing.

Everything is scary the first time you did, but you learned to ride your bike right

For Now


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