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1-Page Summary of Launch

Overview

The $100 Startup is a guide for people who are unhappy with their jobs and want to start their own business. The author uses case studies of 50 entrepreneurs who started businesses using only $100 or less, as well as advice on how to define your product and sell it successfully.

The internet is an amazing tool. It gives people the power to reach billions of people at little or no cost, and due to this, it’s a powerful place for business. However, there is one drawback: billions of other businesses are also using it. This makes the internet competitive and tricky to use effectively in your business endeavors.

This is where the Product Launch Formula comes in. The author created it based on his experience as an entrepreneur, and it focuses on what you do before sharing your product or business with the world.

You can build excitement around your product by using these key points: A mailing list is the most essential business tool you can own. You don’t need to hope that marketing will work, because it won’t. Scarcity helps products sell quickly and in record time.

Big Idea #1: The internet has made it possible to communicate instantly across the globe. This means that marketers can’t rely on hope anymore; they have to be able to prove their claims.

You’ve been thinking about a business idea for years. You’ve spent time thinking about its possibilities and dreaming of success. Then, you decide to go through with it.

So, you borrow as much money as possible to start your business and then present it to the world. You hope that people will buy it, but if they don’t, your business is doomed.

The only problem is that nobody agrees with you.

Many new businesses fail because they succumb to hope marketing—they make a product available and simply hope that it will be popular.

Yet, hope is not enough to build a successful enterprise. If you want to succeed, you must be in control of your chances for success.

It’s easier said than done, but luckily we have the tools to overcome this issue.

The best way to build a successful business is to engage with your potential customers. The internet can help you do this.

In the past, you would have to wait a long time to get feedback from your customers. Nowadays, thanks to social media and other technological advances, people are able to give immediate feedback on their ideas.

Using email, you can discover how your idea is received by the public. The internet enables you to do this in a short amount of time. Finding out which ideas don’t work will help you figure out what does work.

And with this increase in speed comes a huge decrease in costs: sending an email or publishing a marketing article used to be expensive, but today it doesn’t have to cost you anything.

There are many tools available to use on the Internet, but it doesn’t mean that you’ll be successful by simply using them. You have to use those tools wisely and effectively in order to make money.

Big Idea #2: By using authority and scarcity, you can direct people to your products.

There’s a lot of talk about using online technologies to capture new markets. Such strategies are not entirely modern, however. At the heart of an effective launch is a time-tested strategy that has been used for years.

One strategy for marketing is to use mental triggers. Mental triggers exploit the brain’s programming, which directs us toward making certain decisions rather than others.

The brain tends to take shortcuts when making a judgment. It uses clues in the environment to influence our actions.

These are mental triggers. They’re so powerful that if you incorporate them into your marketing, you’ll be able to grab people’s attention. How do you do this?