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How to Go from an Idea for an Invention to a Profitable Product with Meghan Alonso

November 1, 2016

Meghan Alonso, who owns Imua Services, is known for her medical device podcast, videos, and industry connections. She’s a patriotic military wife, pet parent, and has founded 4 businesses. After guiding several companies through medical product development, she just launched her program “Invention Idea to Profitable Product” to help thousands more.

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Resources Mentioned:

  • Audible – Get a FREE Audiobook & 30 day trial if you’re not currently a member!
  • Infusionsoft – Meghan’s small business resource
  • The Purpose Driven Life – Meghan’s Top Business Book
  • Connect with Meghan on Twitter, LinkedIn, Facebook .
  • The Freedom Journal – Set & Accomplish your #1 goal in 100 days!
  • Skills on Fire – Get quick and powerful tutorials on Snapchat, Instagram and Facebook Live!

3 Key Points:

  1. An entrepreneur’s scope of work is always going to change.
  2. Look at adding value in other peoples’ lives.
  3. Make any partnership or business relationship formal.

Sponsors

  • MVMT Watches: Classic design, quality construction and styled minimalism. Get 15% off plus free shipping and free returns at MVMTWatches.com/fire!
  • Tommy John: The revolutionary men’s underwear brand that is literally redefining comfort for guys everywhere! Visit TommyJohn.com/fire and get 20% off your first order! Tommy John: No adjustment needed.

Time Stamped Show Notes

(click the time stamp to jump directly to that point in the episode.)

  • [01:14] – There’s always a need out there
  • [02:19] – Value Bomb Drop: Focus and do market research. Spend time defining your product requirements
  • [04:10] – Before showing people you can boil the ocean, boil a cup of water first
  • [05:10] – What is something you’ve changed your mind about in the last 6 months? Getting into first class. A colleague gave some advice: Try to get in first class as much as you can when you’re flying
  • [05:40] – You should always talk to people on planes
  • [06:09] – Always be looking to add value to other peoples’ lives
  • [08:38] – Worst Entrepreneurial Moment: I helped someone start a company a few years back and I was overly optimistic. I worked with this guy building a $2.5M biz, but had nothing formalized. It ended up not working out
  • [11:08] – You can make things happen
  • [12:14] – Entrepreneurial AH-HA Moment: When I first started, I was the big connector. After a while, I realized I should become the resource
  • [13:53] – What is the one thing you are most FIRED up about today? Spending time meeting peoples’ needs with a system
  • [14:13] – Meghan’s system and program that gets people from bootstrapping to knowing whether the idea is business worthy
  • [14:57] – Beta version of Invention Idea to Profitable Product available for Fire Nation
    • [15:05] – There are 10 slots FOR FREE
    • [15:15] – Once the program is refined, persons with slots can go through it again for FREE!
    • [15:17] – If you’re listening, go to Imua Services to sign-up – (Sorry! This link was active when this episode was first published in 2016 but is no longer an active offer.)
    • [15:43] – Text the word Invention to 44222
    • [15:52] – The first five to send an email to Meghan right after signing up get a signed Freedom Journal!
  • [18:10] – The Lightning Round
    • What was holding you back from becoming an entrepreneur? – The confidence to lead the charge
    • What’s the best piece of advice you’ve ever received? – Not everyone you meet will respect you right away
    • What’s a personal habit that contributes to your success? – Setting and accomplishing goals with The Freedom Journal
    • Share an internet resource, like Evernote, with Fire Nation – Infusionsoft
    • If you could recommend one book to our listeners, what would it be and why? – Put a Shark in Your Tank (coming out this winter!) & The Purpose Driven Life
  • [21:21] – Find out what your purpose is and always go after that
  • [21:32] – Connect with Meghan on Twitter, LinkedIn, Facebook.

Killer Resources!

1) The Common Path to Uncommon Success: JLD’s 1st traditionally published book! Over 3000 interviews with the world’s most successful Entrepreneurs compiled into a 17-step roadmap to financial freedom and fulfillment!

2) Free Podcast Course: Learn from JLD how to create and launch your podcast!

3) Podcasters’ Paradise: The #1 podcasting community in the world!

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