In this episode, we talk about how you should and shouldn't build an empire.
In this episode, we are going to literally talk about how to build an empire, and one of the ways to build an empire, I think what's really important to talk about is how not to build an empire. So when founders are focused on the product and they are looking to find product-market fit and they're chasing up for different customers. Well, this is the way not to build an empire.
The way you build an empire is with people, not with products, and in terms of people, if you are delivering value to someone's life and you're showing them how they can improve their life, then this is a community that you're building, the more value that you'll be able to deliver it to your community, the more value that will come back to you, this community is what will keep you fed when you focus on the community, that's what helps you build this empire.
So I recently had this one founder in one of my Clubhouse rooms and he's been listening to the vertical method talks and applying all the different principles and in terms of adding value so he can start building this community right away, one of his things is that he discovered that there was a way to solve the solution for his customers without even developing this product, and just by thinking about how he can add value before working on the product, he discovered that he can solve the solution.
So his next question was how does he water down this product so it doesn't solve the solution and that's where the mistake is. The mistake is trying to water down this product. Because the thing is if you're so scared that you can solve this solution so easily then what are you making this MVP for? What are you making this product for?
Because what's going to happen is that your competitor is going to see that, "Oh, I can pretty much destroy your entire business with this very simple solution that you could have released but you held back because you were too scared that it was going to take away business from whatever you're building".
The way to actually look at this, if you are building an empire, is if you discover a solution that you can immediately give away for free and it solves people's needs. Well then this is a great way for you to start building a community and as you build this community this gives you an opportunity to start selling other things because you've already changed their life so much, just with this free thing, they're going to see that you're probably going to be able to do more for them once they actually start paying you money.
So this is an opportunity for you to start building an empire. You build an empire by creating communities. You don't build an empire by focusing on the product. So as this person is focused on the community and if he solves the solution with that first minimum viable mock-up that he created, then so be it. Then, the next steps for this person are to be able to take his community up the value ladder with some kind of added value or services where he is charging them money. So this is the way you build an empire. You don't focus on the product, you focus on the customer.
And if you're more or if you're interested about how we're actually building businesses in a way where we build an empire. Because the Vertical Liftoff accelerator program is essentially giving you an operating system for you to build an empire. Go check out the free 65 minutes talk at theverticalmethod.com. So, don't forget the t-h-e, that's t-h-e, theverticalmethod.com. Theverticalmethod.com. It'll take you to the 65-minute audio course which will basically spell out this entire strategy. So, I hope this helps. This is Robin Copernicus. Boom bam. I'm out.
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