John Rush

speaker

297 appearances 3 recordings 1 series first heard Jun 2024 last heard Nov 2024

John Rush’s voice in public audio — every appearance, attributed to the second.

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The Startup Ideas Podcast · I can't believe he shared these $1M+/year startup ideas · 12 Jun 2024 podcast

And usually they're just looking around for random stuff and they just kind of build that stuff. And usually that fails because like you promote this, you know, build community first and then the audience, then from audience, you go to, um, to the, to their needs and then to the product. Right.

And I had this idea that if someone actually does this job of coming up with ideas, validating the ideas with the users, and then collecting a waitlist, maybe collecting prepayments, and then you have the whole thing. Like there's an idea, there are like 100 people who want it, maybe five paid for it. then you have, you know, all the risks, not all the risks, but a lot of the risk is gone now.

And then if there is someone who can build stuff, they could actually buy this little, you know, like rough draft. It's like startup draft. You can call it, right? You buy the startup draft and you can build it and you go from there, which is... Hey, everyone.

I was surprised to see that most people actually fail right at the start. They just don't get any traction at all, like not even one sign up. And here you can solve that problem. And I think people are willing to pay for that. I think people are willing to pay. Like my economics there was that basically people would pay up to $1,000 for that.

And if that works and there is some word of mouth, people can pay like two or three or 5K for that. just to save this first period. They could skip. And it's pretty low cost to do this. So one could just make a machine that does all the steps. So the first step is coming up with idea.

And if that's kind of your whole value proposition coming up with ideas, then it's easier to put that on scale and to come up with a lot of ideas just by doing things like research on keywords, research on hot topics on Reddit, on Twitter, et cetera. So there are a lot of tools for that. And so you do one part of the job, you come up with ideas.

And then the second stage is that you validate the ideas using technical methods. So you check their traffic on organic, you check the potential, you check the free domains on .com, et cetera. So you do these simple things and that can be automated. You can actually make a little tool for yourself that automates this.

And then the stage number three is that you have to now validate with real people. And to do that, you create a wait list and you promote the wait list using either ads or you pay influencers. I actually like to pay influencers more than the ads because it's just cheaper. Like from my experience, it was like you can pay $300 and have 100K views on the post now on Twitter. And you do that.

And then eventually, if your pipeline is 100 ideas coming at the beginning, And then like 30 ideas go to the next stage after this technical validation. And then out of those 30 ideas, maybe 10 ideas go to the next stage after being validated by people, like they joined the wait list. And then those 10 people,

you explain them the value, and eventually you ask them to pay 70% discount, like a prepayment or something like that. And then let's say three ideas survive. So you have three out of 100, and then you have these three ideas you can sell basically now with the little audience, with the prepayments, with the idea itself, with the landing page.

Let's say you sell it for $3,000 or $2,000, and that's like $6,000. And to do all this, if there is a system for that and you build a little tool for that, to do all this, you would spend maybe $1,000 or $2,000. So the margins are pretty good, and the margins get better and better as more ideas and things you do in the system. And everything can be automated, literally everything.

You can buy domains. The APIs, you can make ads the same way. Landing pages can be generated using some builders that have APIs as well. So this can be turned into a tool, and then basically just turn this tool on, and it keeps doing the job. And even the ideas, it can find the ideas based on the same algorithm you did by hand, but now you can automate that as well using AI and using scraping.

And now the system can do 1,000 ideas a month, right? And then you have 30 winning ideas and you sell them.

Yeah. If you go to a startup marketplace and they check the prices there, so you would have no users and no revenue and no validation products for the same price. just because they can build something there. But it's not the part that's important. You can build stuff. Building stuff is easy. It's the easiest part of the startup.

And if there are users, prepayments, and certain validation, then it's at least 10K.

Yeah, so there are a lot of influencers now, a lot more than there were a year ago. I think AEI has helped and the new Twitter algorithm has helped. So there are a lot of people doing that for a living. And I was looking at that segment two years ago as well, and I was checking the prices, and it was at least $1,000. And they would guarantee maybe 30,000 views.

And then I kept asking the same people price again every few months. And now it's way lower just because there are more people doing the same thing. There's competition and they drop the prices. So now it's $300. Sometimes it's $100. So I have some deals for $100 just because I buy often. So if somebody sells for $300 and you buy... five times they drop the price, right?

And in my case, I have a lot of products and I buy very often. I just reach out on Twitter and LinkedIn, just direct messages. Sometimes they reach out to me. It's more often that they reach out to me than I reach out to them. They offer their service. So it's pretty simple to find, but usually they start with really high price.

So you would get like, you know, 700 or 800 at the start and you should just bargain that down to a few hundred and that usually works. Even if they say no, So that's how it works for me. They say no, but then they come back four weeks after because they have this one week slot that's not taken and 200 is better than nothing. So they say, you can take it.

And if you have enough of influencers in your pipeline, in your list, then there's always a week open for one of them or a few of them. And you You buy and then eventually when you bought five or 10 times, you agree on fixed price that's pretty low. And what I do now, I'm doing new things. So I'm experimenting and it's pretty interesting. So I pay influencers fixed amount every month.

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