Validate Your Offer Audiobook: Ch 1. The RVP Framework

Validating Your Business Idea: The Rapid Validation Product Framework

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In this episode, Jonathan Milligan introduces the 'Rapid Validation Product Framework' from his book series aimed at helping creators, coaches, and entrepreneurs build successful solo businesses without major investments. Jonathan discusses the critical steps to validate business ideas quickly, including creating, testing, and iterating offers based on market feedback. 

Drawing from historical examples like the development of the Super Marine Spitfire, he highlights the importance of a fail-fast approach. He also provides actionable strategies to implement the framework in just 28 days through four pillars: Decide, Design, Deploy, and Debrief. Additionally, Jonathan shares exercises to help you brainstorm and validate your own business ideas effectively.

00:00 Welcome to the Market: Introduction and Goals
00:08 Introducing the Book Series and Platform Growth
01:17 The Importance of Validating Your Offer
02:52 Chapter 1: The Rapid Validation Product Framework
02:59 The Spitfire Story: A Lesson in Rapid Validation
05:03 The Pitfalls of Creating Without Validating
06:23 The Power of Rapid Validation
08:05 The Four Pillars of Rapid Validation
14:44 Today's Exercise: The RVP Brainstorming Blitz
18:40 Key Takeaways and Next Steps

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Transcript

0:40

Hello, and welcome to the market. Your message show. I'm your host, Jonathan Milligan. And we have been over the last couple of months. Allowing you to hear the audio book of this book series. In fact, you can go to platform growth books.com and you will see at the time of this recording. We've got up to five books listed in this process. And so I've been really doubling down on trying to take what I've been teaching in my private coaching. And my online business insider program and packaging it in the form of books and audio books. And that's what you've been listening to. If you just found me welcome, glad that you're here. And our goal here is simple. We're trying to help messengers. Riders coaches, speakers, teachers. Content creators. To build an audience around their message and to earn multiple income streams. And do it in a way where you don't have to have a big business. You can keep it just to you. Nice solo preneur business. And just do what you love, make a difference and have more time. Freedom. And we've been going through the series of book. One was discover your message book to launch your platform. Which we just finished up. And this is book number three, validate your offer. Now, this is, let me tell you the reason why I brought this book up and why I decided to write it. Because I saw this gap between somebody knowing what their message was, setting up their website, and then. Not knowing how to earn a little bit of money with their message. Or validate this idea is even a worthy idea to build a business around. And so what you're going to learn over the next several weeks, one chapter at a time. Is you're going to learn. My rapid validation product framework, and I'm going to teach you four unique offers that you can create and actually sell before you create. And do you have the ability to make money faster than if you were to spend nine months building an online course only to find out nobody wants it. I don't want you wasting time. And so in this first introduction really it's chapter one. I want to teach you the whole framework. And then we're going to dive deep into what are these actual offers that you can sell before you even create? And the cool thing is you don't even have to have a large audience. To implement these as well. So all that being said, I hope you are enjoying this. If you want the book that goes with it. You can click on the link in the description. You can go to platform growth books.com. You can get the book. And then meanwhile, listen to the audio book as it's released one chapter at a time. All right. With that, let's get into chapter number one.

Speaker 2: 3:35

Chapter 1. The Rapid Validation Product Framework. In the late 1930s, with the threat of war looming, the British Royal Air Force faced a daunting challenge. They needed a fighter plane that could outperform the German Luftwaffe. And they needed it fast. Enter the Super Marine Spitfire. The Spitfire's journey from concept to combat ready was a masterclass in rapid validation. The British didn't have the luxury of time. They couldn't afford to spend years perfecting every detail. Instead, they embraced a fail fast, learn faster mentality. Reginald Mitchell led the design team. They started with a clear vision, a sleek, but It would give the Spitfire unmatched speed and maneuverability. But they didn't just rely on theory. They built prototypes quickly, testing and tweaking as they went. Each iteration brought new insights. Wind tunnel test revealed areas for aerodynamic improvement. Pilot feedback highlighted the need for better visibility. With every rapid cycle of design, build, and test, the Spitfire evolved. The result? In just 12 months, the Spitfire went from a paper sketch to a force to be reckoned with in the skies over Britain. It proved instrumental in winning the Battle of Britain, turning the tide of the war. The Spitfire story is a powerful reminder of the importance of rapid validation. When you're starting a new idea, like a fighter plane or a business, you can't get stuck in endless planning and perfection. Instead, take a page from the Spitfire playbook. Start with a clear vision, but be ready to test, learn, and adapt quickly. Embrace the power of prototyping. Seek out feedback from your target audience. And most importantly, don't be afraid to fail fast. Because that's how you learn faster. In this chapter, we'll dive deep into the art and science of rapid validation. You'll learn a powerful framework for testing your ideas quickly and efficiently, so you can bring your vision to life with confidence. Get ready to strap in and take flight. The pitfalls of creating without validating. You've got a groundbreaking idea for a new product or service. You're convinced it's going to change lives and disrupt industries. So, you pour your heart and soul into creating it. Late nights, gallons of coffee, countless hours of toil. Finally, after months, or even years, of hard work, you unveil your masterpiece to the world, waiting for the accolades to roll in. But then, crickets, tumbleweeds, silence. It turns out the market just doesn't want what you've built. Despite all your efforts, you've created something that nobody is willing to pay for. Ouch. Sadly, this scenario is all too common. Entrepreneurs and creators often fall into the trap of building first and asking questions later. They assume that just because they think their idea is brilliant, everyone else will too. But here's the hard truth. Your opinion doesn't matter nearly as much as the market's opinion. You must solve a real problem for your target audience. If not, they won't pay for it, no matter how clever it is. The result? Wasted time, money, and effort. Not to mention the emotional toll of pouring your passion into something that falls flat. But here's the good news. There's a better way, the power of rapid validation. What if you could test your idea quickly and cheaply before investing tons of resources into it? What if you could get real feedback from real potential customers and use that data to guide your creation process? Enter the rapid validation product, RVP framework. The RVP framework is all about creating a small, quick to launch version of your product or service. Think of it as a minimum viable product, MVP on steroids. The goal isn't to create a perfect polished final product. Instead, it's to create something just good enough to test the waters and see if there's real demand. Launch a basic version of your idea. It will help you learn what your market really wants. You can see what features they love. What they could live without and what problems they're really trying to solve. With this data, you can then iterate and improve your offering. You can be confident that you're moving in a direction the market will support. You can avoid the pitfalls of creating in a vacuum and instead create with the voice of the customer guiding your every move. Best of all, you can do all of this quickly and with minimal investment. Instead of spending months or years building something that may or may not succeed, you can validate your idea in a matter of weeks. So if you're tired of wasting time and resources on ideas that flop, it's time to embrace the power of rapid validation. In the rest of this chapter, we'll dive into the nitty gritty of how to apply the RVP framework to your own ventures. Get ready to fail fast, learn faster, and create products that the market truly craves.

8:45

The four pillars of rapid validation. Every time I want to test an idea, I follow four simple steps. When followed closely, these steps will help you save time, money, and resources. It will also help you to get feedback as quickly as possible. Remember, we launch, then we learn. Pillar one, decide, lay the foundation. Every great structure starts with a solid foundation. In the RVP framework, that foundation is built on three key decisions. Choose your validation product type. Will it be a low content book, a mini course, group coaching, or a virtual workshop? Each option caters to a different type of creator, writer, teacher, coach, or speaker. So pick the one that aligns with your strengths. Select your topic. Don't try to be everything to everyone hone in on a specific problem that your target audience is itching to solve the more focused You are the easier it will be to create a compelling offer Set your timeline the beauty of rapid validation is that it doesn't have to take forever Challenge yourself to complete your validation offer in 28 days or less This tight time frame will keep you focused and prevent scope creep. Think of these decisions like a blueprint for a house You An architect wouldn't start building without a clear plan. You shouldn't start your offer without a solid foundation. By making these three key decisions up front, you set yourself up for success in the rest of the RVP process. Pillar 2. Design. Create an irresistible offer. Now that you've got your foundation in place, it's time to design an offer that your target audience won't be able to resist. This is where the Offer Clarity Grid comes in. The Offer Clarity Grid is a simple but powerful tool for crafting a compelling value proposition. It consists of four key questions. Plot What does the hero want? Your target audience, want, problem, what's stopping them from getting it, promise, what can you help them achieve, Path. What are the three to seven steps they need to take to get there? By answering these questions, you can create an offer that speaks directly to your audience's desires and needs. You'll be able to clearly communicate the value of your product and how it will solve their problems. The importance of a clear value proposition can't be overstated. A 2018 study by the Nielsen Norman Group found that products with clear value propositions had a much higher conversion rate. The rate was 69 percent higher on average. By using the offer clarity grid, you can tap into this power and create an offer that practically sells itself. Pillar 3. Deploy. Launch with a bang. You've laid the foundation and designed an irresistible offer. Now, it's time to bring it to life with a strategic launch. As marketing guru Seth Godin famously said, if you build it, they will come only works in the movies. Social media is a build it, nurture it, engage them, and they may come and stay medium. In other words, launching your offer isn't a one and done affair. It requires thoughtful planning and execution. To maximize your chances of success, focus on three critical elements. Build anticipation. Start teasing your offer before it's even available. Give your audience a taste of what's to come and get them excited. Generate buzz. Leverage your existing networks and reach out to influencers in your space. Get people talking about your offer. Create urgency. Use scarcity tactics like limited time bonuses or a closing cart. To encourage people to take action. Now, as you deploy these tactics, keep in mind the four types of buyers, spontaneous buyers, methodical buyers, social buyers, and deadline buyers, tailor your messaging and offers to appeal to each group by executing a well planned launch, you'll be able to cut through the noise and get your validation offer in front of the right people at the right time. You'll also gather valuable data and feedback. that you can use to refine your offer going forward. Pillar 4. Debrief. Learn and Iterate. Congrats! You've launched your validation offer and gathered some initial results. But the RVP process doesn't stop there. The final pillar, debrief, is where the real magic happens. The debrief phase aims to turn your validation experience into insights. You can use them to improve your offer and your business. To do this, you'll use two key tools. The business validation decision tree and the debrief strategy. The decision tree helps you objectively assess if you should accept the offer as is. It can also help you see if you should make tweaks or pivot in a new direction. It takes the emotion out of the equation and gives you a clear path forward based on the data. The debrief strategy, on the other hand, is all about gathering qualitative feedback from your audience. What did they love about your offer? What could be improved? What questions do they still have? By actively seeking out this feedback, you can gain a deeper understanding of your market and how to serve them better. The power of this iterative approach can be seen in the story of Zappos. When the online shoe retailer first launched, they offered a wide range of footwear, but based on customer feedback, they quickly pivoted to focus solely on shoes. This focus let them offer unmatched service and selection that led to their sale to Amazon for a billion dollars. By embracing the debrief pillar, you too can turn your validation experience into a launchpad for success. You'll be able to continuously improve your offers, better serve your audience, and build a thriving business that stands the test of time, tying it all together. The RVP framework is a powerful tool for bringing your ideas to life quickly and efficiently. Follow the four pillars, decide, design, deploy, and debrief. They let you validate your offers with confidence. You will know that you're creating something your audience truly wants and needs. The journey of a thousand miles begins with a single step. The RVP framework is that first step, the launch pad that propels you towards your entrepreneurial dreams. So what are you waiting for? It's time to decide, design, deploy, and debrief your way to success. Today's exercise, the RVP brainstorming blitz. Are you ready to take the first step toward bringing your entrepreneurial dreams to life? Welcome to the RVP brainstorming blitz. It's a powerful exercise to help you generate many potential validation offer ideas using the RVP framework. You have 30 minutes in that time. You'll brainstorm many validation offer ideas. They will cover the four pillars of the RVP framework. Decide, design, deploy, and debrief. By the end of this exercise, you'll have a list of exciting possibilities to explore and validate. But before we dive in, let's address the elephant in the room. You might be thinking, but I don't have any good ideas or. What if I can't come up with anything in 30 minutes? Trust me, I've been there. The beauty of this exercise is that it's designed to silence your inner critic and unleash your creative potential. So grab a piece of paper, a whiteboard, or your favorite digital note taking tool. Divide your space into four quadrants, one for each pillar of the RVP framework. Set a timer for 30 minutes and let's get started. Step one, decide five to 10 minutes. Begin in the decide quadrant. Your goal is to brainstorm five to 10 potential validation offer topic ideas. These could be problems you've seen in your industry. They could be skills you're passionate about sharing, or they could be topics your audience has asked for help with. Don't worry about perfecting them. Just get them out of your head and onto the page. Step two, design five to 10 minutes. Next, move to the design quadrant. For each idea you generated in the decide phase, jot down the specific problem it solves. Remember, the key to a compelling offer is a clear value proposition. By identifying the problem up front, you'll be able to craft an offer that resonates with your target audience. Step three, deploy five to 10 minutes. Now let's shift gears to the deploy quadrant for each idea. Brainstorm two to three ways you could promote your validation offer. Here's the kicker. I want you to do this. Even if you have little to no existing audience, the goal is to start thinking creatively about how to get your offer in front of the right people. Step four, debrief five to 10 minutes. Finally, move to the debrief quadrant. This is where the magic happens. For each validation offer idea, write down two to three survey questions you'd love to ask your target audience. These questions will help you gather valuable feedback and insights to refine your offer. For example, you might ask, What's the biggest challenge you're facing? Or what would make this offer a no brainer for you? When the timer goes off, take a step back and assess your ideas. Which ones feel the most exciting and feasible? Circle them, star them, or highlight them in your favorite color. These are the ideas you'll want to explore further. Now, I know what you might be thinking. This is great, but what do I do with all these ideas? Don't worry, we'll dive into that throughout the rest of the book. The RVP brainstorming blitz is just the first step. It opens you to new possibilities and helps you find your best opportunities. Remember, the key to success with the RVP framework is to take action. By doing this exercise, you've already taken a powerful step. You're moving towards validating your ideas and building a thriving business. So, give yourself a pat on the back. Take a deep breath and get ready to dive into the rest of the RVP process. Your entrepreneurial journey is just beginning, and the RVP brainstorming blitz is your launchpad. So buckle up, stay curious, and enjoy the ride. The world is waiting for your brilliant ideas. Key takeaways. The RVP framework provides a quick, low risk way to test and validate your product idea before making a major investment. The four pillars of decide, design, deploy, and debrief give you a step by step roadmap to execute your validation offer in 28 days or less. Put the RVP framework into action. It will give you the insights to build products your audience desires. You'll also avoid the pitfalls of creating without validation.