From the archive: This episode was originally recorded and published in 2022. Our interviews on Entrepreneurs On Fire are meant to be evergreen, and we do our best to confirm that all offers and URL’s in these archive episodes are still relevant.
Narek Vardanyan is a serial entrepreneur, author, and keynote speaker. He is the co-founder and CEO of The Crowdfunding Formula (TCF), one of the most successful crowdfunding marketing agencies.
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Guest Resource
Prelaunch – Launch Your Product With Confidence!
3 Value Bombs
1) Each customer thinks and behaves differently. When the data is out there, you can move forward confidently and increase your chances a lot.
2) The common reason products fail is because of a lack of market demand. It is hard for creators to predict which products will fly, and which ones won’t.
3) Pre-launch your product or idea as soon as possible; don’t rely on what your consumers are saying, but what they are doing.
Sponsors
HighLevel: The ultimate all-in-one platform for entrepreneurs, marketers, coaches, and agencies! Learn more at HighLevelFire.com!
Freedom Circle: A powerful community of entrepreneurs led by JLD! Are you ready to go from idea to income in 90-days? Visit Freedom-Circle.com to learn more.
Intuit QuickBooks: Transform your cash flow and your business this year! Check out QuickBooks money tools today! Learn more at QuickBooks.com/money! Terms apply. Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services.
Show Notes
**Click the time stamp to jump directly to that point in the episode.
Today’s Audio MASTERCLASS: How Pre-Launching can Help You Validate Demand and Save Resources with Narek Vardanyan
[1:17] – Narek shares something that he believes about becoming successful that most people disagree with.
- You can be wrong a lot. You’ll experience your gut feelings and your genius ideas in the shower, but it’s nothing if you don’t have reliable data that you can trust
[2:13] – The reason why 80% of product launches fail.
- The common reason products fail is lack of market demand. It is hard for creators to predict which products will fly, and which ones won’t.
- When creators pass through ideation, design, prototyping, and production, and then launch it into market, by the time they meet their consumers they’ve already spent a significant amount of time and money.
[3:28] – What do the 20% of successful product launches do differently?
- Pre-launch your product or idea as soon as possible; don’t rely on what your consumers are saying, but what they are doing.
[4:41] – Meeting actual customers before you launch.
- Recreate and imitate this real life procedure and create a website, as simple as the real website, and start testing it with real customers.
[7:07] – Validating the idea and the customer’s willingness to pay.
- There are two types of fallacies. False negatives and false positives.
[9:13] – A timeout to thank our sponsors.
- Intuit QuickBooks: Transform your cash flow and your business this year! Check out QuickBooks money tools today! Learn more at QuickBooks.com/money! Terms apply. Money movement services are provided by Intuit Payments Inc., licensed as a Money Transmitter by the New York State Department of Financial Services.
- HighLevel: The ultimate all-in-one platform for entrepreneurs, marketers, coaches, and agencies! Learn more at HighLevelFire.com!
[11:35] – Narek talks about Prelaunch.
- Prelaunch is a product validation platform. It’s a platform designed for creators to prelaunch, showcase, and validate their product
- If you see that things are good, then you’re more confident to move forward, launch in the market, and succeed.
[14:02] – How can consumers and customers benefit from this process?
- For the consumers, it gives access to the products that will come soon, and gives them the opportunity to reserve those products even before they launch into the market.
- You can give feedback and customize the products
[16:59] – Narek’s key takeaway and call to action for Fire Nation!
- Your important decisions should rely on important data.
- Each customer thinks and behaves differently. When the data is out there, you can move forward confidently and increase your chances
- Prelaunch – Launch Your Product With Confidence!
[18:44] – Thank you to our Sponsors!
- HighLevel: The ultimate all-in-one platform for entrepreneurs, marketers, coaches, and agencies! Learn more at HighLevelFire.com!
- Freedom Circle: A powerful community of entrepreneurs led by JLD! Are you ready to go from idea to income in 90-days? Visit Freedom-Circle.com to learn more.
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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