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Sellnow, 2 Frederick Street, London (2026)

Name: Sellnow
Address: 2 Frederick Street, London, WC1X0ND, GB
Telephone: +447700182364

23/05/2022

How to start selling a product if there is no product?

These are common judgments of novice startups. And such a policy usually leads to the fact that the project remains only on paper. If you look at most successful company stories, they don't all start with development, investment, or even marketing.

They start with a problem. Our task is to find a problem for which the client will be ready to pay us money. Having solved this problem and taking money from the client, we will make the first sale of our MVP.

MVP is the minimum viable product needed to test our business idea. It should solve the client's problem and not bother us with development and expenses. There are several popular MVP methodologies.

One of the fastest and most efficient is Concierge service.

Concierge service is an MVP methodology that allows you to check the demand for a paid product. Its meaning is that you and your employees manually solve the problem that the potential product faces and sell it to the client as the final product.

Examples of "concierge" for products of leading companies:

- Order a taxi by phone (Uber)
- Selection of cheap air tickets by phone (AviaSales)
- Group for renting and renting real estate by the day with the administrator (AirBNB).

Now they look like banal products for which there is definitely a demand. But many years ago, when these companies were just emerging, this was not clear. Tickets were bought at the box office of Aeroflot, accommodation was rented in well-known hotels or with friends, and a taxi was caught on the road.

Therefore, by creating such an MVP, we can first check the presence of demand, and subsequently check the possibility of scaling sales.

In the process of scaling sales, you will create a sales traction - the main thing that any venture investor pays attention to.

16/05/2022

Who is the founder of SellNow?

Pavel Belogursky - founder of SellNow, professional product manager, entrepreneur and business consultant

Throughout his career, Pavel has worked on large projects in Western Europe and the USA, with his experience and background, he provides effective business consulting for businesses to increase profits.

If you are an entrepreneur and you have questions about its management, please contact in the comments or in private messages (Pavel Belogursky), and we will provide you with professional business advice.

16/05/2022

Entrepreneur, what is your main strength?

The main skill of an entrepreneur is the ability to accept that a hypothesis has not worked. This distinguishes successful entrepreneurs from mediocre ones, is the first manage to test much more hypotheses than the second.

Everything we do, say or think is a hypothesis or part of it:

- New business idea
- Advertising channel
- Marketing creative
- Hiring an employee
- Attracting an investor

Testing hypotheses takes time and money, and, according to statistics, 1 out of 10 works. And despite the fact that most of the resources will be spent without the desired result, the number of hypotheses tested is the main booster in the process of creating successful companies.

But what happens when a business idea doesn't work, and the entrepreneur still wants to finish it? - An entrepreneur spends even more resources investing in selling a product to an audience that has never needed it.

Trying to survive the failure, the psyche takes us through 5 stages of acceptance: denial, anger, bargaining, despair and, subsequently, acceptance.

Why, then, do so many businessmen get attached to one hypothesis and trash it for months, or even years?

This is because in addition to the rational principle, there is also an emotional one in a person. We attach ourselves emotionally to each hypothesis and expect an emotional response during the verification process. Because of this, the adequate perception of specific final data is replaced by the pursuit of fullness of the expected sensations.

Such is the "emotional casino" that many of us are hooked on without realizing it.

In my personal life, the same thing happens. For example, we tend to get attached to a partner and try, at all costs, to build a relationship, even when it becomes obvious that your couple has no future.

It works the same way as with hypotheses: a person causes us a feeling of attachment, which encourages us to commit contradictory actions.

But not everything is so scary: as a rule, the ability to accept comes with experience. Experienced entrepreneurs can "skip" the 4 stages of acceptance and, based on the numbers, immediately "kill" the failed hypothesis and immediately move on to a new one.

Successful businessmen also have, on average, 1 hypothesis out of 10.

No one has the innate skill of making super hypotheses. The winner is simply the one who does not rest his head against one wall, but tests 100 hypotheses in the same time that others test only one.

The ability to constantly accept failures is an emotional skill that can and should be developed in order to continuously test new hypotheses and create successful companies. And the absence of despair accelerates the process of achieving goals, and also just helps to live happily and peacefully.

If you need a free template for weekly planning of staging and testing hypotheses, write in the comments and I will send you a private message.

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2 Frederick Street
London
WC1X0ND

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+447700182364

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