Acquire Venture

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Own this venture

verify ~ due diligence ~ acquire


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Using the scientific method to incrementally launch a podcast venture that makes an impact.

The intention of this post is to unpack the steps I am going through to launch the Podcast Venture and my thought process behind why I take each step along the way.

I am launching the Podcast Venture using three phases: Prototype, MVP, and Beta. For example, the idea to package this Podcast Venture was influenced by specific people, places, and things within my learning environment. 

Prototype

The intention of this phase is to quickly publish the concept to the web to see if anyone cares. In three days, I brought the idea from within my heart, mind, and soul out into the digital world as a microsite that clearly outlines the problem, solution, customer, etc.

Podcast Venture prototype

The above is the home page of the microsite. To get a better understanding of how I embed the strategic thinking of “Prototype” into this microsite, here is the userflow. A userflow is basically the steps a person will walk themselves through on the path to acquiring the Podcast Venture. The userflow for the Prototype is the first row in the sketch below.

Podcast Venture user flow and wireframes

As you can see from the flow listed above, during this phase, I did not create the entire product just yet. Sure, I had all the assets from the podcast I launched in 2020, but, I had no reason to go through all the work of packaging it together in a format that is ready for someone to purchase. My hypothesis was that there is no person that is interested in this product. Until proven wrong, it’s important not to build anything else.

On Sunday, November 21st, I shared one status update on my personal Facebook and LinkedIn. I could see a slight spike in traffic to the Podcast Venture microsite. On Tuesday, November 23rd, I received notification of the first person to land on the Podcast Venture and submit their email address to start the process of reviewing the assets.

Minimum Viable Product

The intention of this phase is to continue laying down product a few steps ahead of the people who are interested in acquiring the Podcast Venture.

As I mentioned, I had not built the next steps yet. Once I received this email notification, it informed my next steps. I setup a Calendly account, created a 15-minute meeting option, and shared the link with the potential acquirer to schedule a time with me. The intention of this call is to walkthrough the assets and be there to answer any questions. I also updated the form on the Podcast Venture microsite so that after it is submitted, the user automatically receives the link to schedule a 15-minute call with me on Calendly.

The userflow for the Minimum Viable Product, or MVP, is the second row on the sketch listed below.

Podcast Venture user flow and wireframes

This version of the Podcast Venture will contain everything it needs for an acquirer to complete the purchase transaction and setup the Podcast Venture on their own server, on their own time, and without my involvement in the process.

In order to get this far, I will need to go from 0 customers, to 1 customer. The journey of going from 0 to 1 is how to see the path that will be eventually be automated. Otherwise, without a first customer, there is no path.

Beta

The intention of this phase of the Podcast Venture is to provide ongoing service and support in exchange for a recurring fee or monthly subscription of some type. I have not yet decided if this is something I will offer for the Podcast Venture. At this point, I have no reason to believe this is necessary. If I am proven wrong, I will reconsider by reviewing my options and packaging the monthly offers based on the data I gather from interactions with the people who acquired the self-hosted option.

Next steps

My intention is to continue documenting my process of launching the Podcast Venture.

— Daniel D.



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