17-06 Inspiration First
Sometimes I get inspired ideas before I’ve done any market research. In those cases I can still do some research after the fact to validate or invalidate the idea. Maybe I’m excited about it in the moment, but the question is: Will it sell?
For instance, I got the idea to offer personal coaching in creating passive income, but I didn’t know exactly what to offer or what to charge for it. It felt like an inspired idea that I should pursue, but I had a lot of uncertainty about it.
It’s a risk because I really don’t know how to sell myself, where we’ll be going with the flow of whatever inspires us in the moment. Part of me still thinks it’s a crazy idea, but this is another case where I feel the coolness factor of doing something new outweighs the certainty of having semi-predictable sales. For all I know, the idea might turn out to be a home-run. The only way to know is to try.
This is actually another way to conduct market research. Dive in and test your idea in the real world. Then you’ll know. The benefit to this approach is that you might just stumble upon something that works really well. Then you can build around it.
Our goal is to find multiple income streams, and the more passive the better.