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.
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.
**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.
- 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.
[13:02] – 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
[14:59] – 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!
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