Why I green-lit the Email Love project

Building Email Love - Last updated 15 Nov 2018

This article (and video) is intended to act as a checklist when validating your next idea. I go through each step using Email Love as context. Hope you find it useful!

 

Here is the checklist download link – rad to print out, sit outdoors… with coffee. It’s all about being realistic with our expectations and promises on side-projects. If you don’t steer too far from your passion, you’ll be just fine!

1. How passionate are you about the side‐project subject?

  • Rate from 1‐10. 8 or above is Green. Go. Now.
  • Will I have a ton of fun building it?

2. Why exactly are you building this side‐project?

  • To get known as a Maker?
  • To make more money?
  • To quit my job now?
  • To grow a business and hire people?
  • To solve my own problem/need?
  • To learn a new skill?
  • To potentially help my existing projects?
  • To form a contingency plan for my current project?
  • To build something of value that can help people?

3. Will you use your own side‐project?

4. Opportunity costs?

  • Why don’t I improve my existing projects with this time?
  • Am I procrastinating on a bigger, more important project?
  • Have I considering ridding of a side‐project I am less passionate about, to make space for this new one?

5. Will your side‐project solve a real problem?

  • Does my idea solve an easy or difficult problem?
  • Have I researched if there are already solutions to my problem?
  • Are there still pain‐points in the industry?
  • How light can I test and validate that my idea is actually solving a problem?
  • Are people willing to pay for my product or service?

6. Is the side‐project market progressive?

  • Will my idea be relevant in 1,2,3,5,10 years?
  • What does my gut say?
  • Have I spent an hour in Google Trends?

7. Competition

  • No competition = bad.
  • Ton of competition = ok.
  • Ton of competition but not much within my niche = good. Can I target a niche within the broader industry?
  • Do I know how big this industry is?
  • How big are the social media followings of my competitors?

8. Are you able to build everything?

  • Do I have time to build this side‐project while you are working on your main project or day job?
  • How much do I need to outsourcing?
  • Do I have savings to outsource?
  • Without outsourcing, can I launch at lighter version of this side‐project idea to validate outsourcing?

9. Who is creating content and how often?

  • Am I building a community?
  • Am I building a standalone tool?
  • Does my side‐project promise timely content?
  • Does my side‐project need moderation?
  • Can I walk away from the idea for a day, week, month, year?

10. Are you fit for the hustle?

  • Am I mentally strong enough for the inevitable dip?
  • Am I in it for the short or long game?

If you found this useful please pass it on to a friend. It’s all about being realistic with our expectations and promises on side­-projects. If you don’t steer too far from your passion, you’ll be just fine!



Hit me up on Twitter or email with what you would like to know? I’m trying to share as much as possible.