Create a business in 24 hours

Experiment – 24 Hr Business Challenge – Can It Scale?

If you’ve been reading my blog you know I’m quick to test a new idea.

A secret goal of mine is to make 1 million dollars by the time I turn 30. I am a stronger believer that if you get off your ass and take shots, eventually you will score. Let’s do a quick recap of things I have created and how they did.

  • 12 Hr WordPress (did ok)
  • The Import Crash Course (success)
  • Consulting (success)
  • Anti Wantrepreneur (Success – I don’t make money from it but it has hit all the goals I set for it)
  • The C-Guard  (did well in the beginning, bombed long-term, got little attention)
  • Membership Crash Course (still validating)

My latest project is a software as a service for the medical field. Very challenging but rewarding. I have some cool people mentoring me like Josh Isaak. Great guy and gives me valuable advice when I ask. He create SaaS called My Sky, a customer management system. He pitched his idea and got $22,000 in pre-orders. Check out his story here.

You can see my progress of the SaaS Challenge here.

We are in the pre sale phase and I am still pitching the solution. I also got a Wipe Book 2.0 and have been sketching out a lot of simple apps I can create. A lot of inspiration from Product Hunt.

WIpebook 2

But I came up with another business idea.

The idea

To get clients I usually do video reviews of their websites. I point out things they can do to fix their sites. Pretty informal but full of information and actionable steps.

My goal is to give them as much value as possible before I sell them on my consultant services. If they really want to, they can take the information I give them and use it to fix their sites themselves.

This technique as landed me multiple website/marketing gigs. Usually a couple days work and priced high. But I noticed a lot of my readers just wanted someone to review their site. How could I monetize this?

So I went to reddit and asked a bunch of entrepreneurs if they want website reviews. I did some for free and others I charged $25.

When I asked the how much they would pay for the service and the price ranged from $50 -$150. So I jumped on it.

I used my trusty Optimize Press 2 (I love this damn theme/plugin) and created a website in a couple hours.

Then I went to PowToon and created a quick explainer video. Check it out.

Look over it
Look Over It
was done.

Pricing

I triple tiered the pricing. Low, mid, and premium pricing. Premium being a  subscription. I want to build a list of happy customers who are excited to pay me monthly. At $99 a month, I make  10k month with only 100 customers.

I will be doing majority of the work and reviews myself until it scales and I can bring people on board.

What’s Next?

I let some friends see it and give me feedback. I have to tweak the copy some more based on good critiques.

I’m going to create a script and cold local businesses in here in Jacksonville. A lot of people need their sites reviewed. Businesses have the income to justify $99 a month as long as there is a return on their investment.

I’ll also be sending out daily emails to prospects, telling them about the service. 10 email minimum. I will find the prospects in the comments sections of popular blogs I read. I’ll also check Technorati. A good service you can use to track your opens and clicks on regular emails is Bananatag.

Shouldn’t you focus on one thing?

A buddy of mine told me that my focus was spread too thin. For a split second I thought it was too. But I remembered people like Richard Branson and Elon Musk. They have multiple projects going on at the same time.

This article by my old boss, Vishen Lakhiani explains it all in detailed. Simply put, it asks the question, what if you can focus on one thing and be successful AND also focus on multiple things and be successful. As long as you believe it and stay organized, it can happen.

I split up my time wisely so I rarely feel overwhelmed.

The challenge

If you are game, I challenge you to create a business in 24 hrs. Don’t procrastinate.

I will continue to update you on my progress here.

What are you thinking about creating? Tell me in the comments.

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Comments

  1. Good Morning Eugene. My name is Josue and I am fascinated with your blog and website. You’ve really got me focused in on a few points on going full entrepreneur. Taking it a stepstone at a time. I see your into Medical Software. I have been studying the field and am currently looking for someone that can help along the way in partnering and really just creating something magnificent. I have gathered ideas and comments from patients since i work in a hospital. I’m into the future of technology and have experienced feed back from a few businessmen themselves and now I really have a chance to speak, thanks to the help of you and all the support of business mentoring I’ve been guided with. Hope to hear from you.

  2. Got some great ideas from this… hopefully I can come up with a great idea to take u up on the challenge.

  3. Great powtoons video! You must be a designer :D

    I love your focus on validation before building… very neat concept for the “review” business.

    Quick question: what was your response rate when you used to send out videos reviewing sites? I’d like to know because I used to do the exact same thing with virtually no results… but maybe I wasn’t approaching it in the correct way..

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