In 2014, I collaborated on and launched a premium mastermind program.

What started as just an idea several months prior culminated in a launch that brought in $40,000+ allowing us to fund our startup operation without a loan or investors.

In part 1, I wrote about “The Open Loop Product Development Framework” - a process I use to thrash an idea until it’s clear.

What exactly needs clarity?

• what’s the goal of the business or project (impact, revenue, etc.)?
• how will you find and reach your first 10 customers (and then first 100)?
• do you have the resources to fund and create this?
• can you launch this within 30 to 60 days?

“The Open Loop Product Development Framework” allows us to systematically find this clarity as we thrash and build out a basic (but useable) business plan.

The fundamental principle of “The Open Loop Product Development Framework” is this:

Great ideas don’t matter without great execution.

Next Step After You Clarify Your Business Plan

At this point, you have a clear idea of:

• what you’re building
• why you’re building it
• and who it’s for

Now we need to focus on turning this basic outline into a shippable product.

This means:

1. building the product (or at least the shell of the product or service)
2. leading people to your offer
3. getting people to pay for your offer (product or service)

In next weeks blog post, I’ll explain in more detail how to build a product wireframe you can sell on proof of concept alone (as well as how to sell it). Today, I want to focus on building everything around your offer - the stuff that determines if your product or service ends up a success or failure.

In other words: how to create a sales funnel.