My blog post on Idea Extraction has been going nuts. There’s a ton of information and specific questions on that post if people would like to read through it.
If people are trying to use me as a substitute for the Foundation, they’ll be having a really hard time. There’s NO way I have the capacity to help much more than give a rudimentary answer to a few questions. There’s so much more to the Foundation than just providing some email copy to get phone calls. It’s a step-by-step process with accountability built in, interviews, examples, detailed problem/solutions with your peer groups, and expert coaches from people that have done this before, the hard way.
Also – in case people were not aware I taught a course on Mixergy of my experience at the Foundation and how I went through the pre-selling process. If you don’t know Mixergy already, it’s BRILLIANT. I basically use it for anything that I need or want to know about, and the premier membership is like $29 a month. A MUST for any entrepreneur because you can learn about anything there – how to set up facebooks ads, google ads, how to sell better, how to do idea extraction, how to build lean products, how to do pre-sales, how to start a content blog, how to find keywords, how to build a list. Sign up, it’s got it all.
OK – Here is a copy of an email that I used to get Idea Extraction interviews. Dane and Sam Ovens used the strange question email – but since that content is not mine, I’m not going to post that email. I believe it’s out on the Internet somewhere, but the concept is the same as this one.
It’s critical that you personalise each email as much as possible so the people know you took the time to look them up. If you don’t put in the company name and the name of the person, your response rates will go way down. As always, track everything, and tweak for your own country or industry to get the best results. You should be looking for around +5-15% response rates. Ideally, each IE call will last 30 mins to 1.5 hours.
So, here are the goods:
Subject: Chat about [company name]
My name is xxx and I came across the [company name] website while searching for successful companies in your [industry]. I was wondering if I could ask you a few questions about working in [industry name]?
Why do I want to speak with you? I am a software developer and entrepreneur. I’m trying to learn about the pains and frustrations in the industry, to see if I can identify any common problems/frustrations that I could solve with a software solution. Don’t worry – I’m just a normal person, not affiliated with any company and not selling anything. I’m just driven by solving problems and making people’s lives a little easier, and I’d love to have a chat with you about the challenges and boring or unpleasant tasks you face.
Is there a time that’s convenient that I could call you?
PS. I’d be very happy to share with you what I’ve learnt about the industry (the challenges and problems companies are currently most commonly experiencing) in speaking with approximately x businesses so far.