Note from Editors:
Book in a Box is a new startup that raised $200,000 two months after launching. The author details how Book in a Box assists any individual to write a book, without actually keying a word in one’s laptop. He shared four repeatable steps that any #entrepreneur can follow to ensure startup success.
by Andrew Medal
Within the first two months of launching, Book in a Box generated $200,000. That’s impressive #growth for any company, let alone a company that just started. Book in a Box helps anyone write a book, without actually #writing a word. Interesting, right?
I’m currently in the process of writing a book, and reached out to Tucker Max for some advice (and, yes, I used my cold email approach). For those who don’t know, Max is the New York Times best-selling author of I Hope They Serve Beer in Hell. The book, which subsequently was made into a movie, has sold more than 1 million copies worldwide. He has gone on to write a slew of other books, and documents his sexual escapades and drinking adventures on his blog TuckerMax.com. He is also the founder of Book in a Box.
The product provided immediate value to my writing process, which triggered me to figure out how he’s been able to create such a valuable product. Upon further research I learned more about the #business and back story, and found four repeatable steps any entrepreneur can follow to drive startup success. These are not revolutionary, and anyone that has heard of the lean startup method can see some of its foundational principles.
1. Solve a real problem.
The idea for Book in a Box came to Max when a fellow entrepreneur approached him with a simple question:
“I want a book, but I don’t have the time to write it, and the normal publishing process is too frustrating. Is there another way to solve my problem?”
As Max explains, “I chuckled at her, and arrogantly explained ‘how writing actually works’ and proceeded to give her a condescending lesson in literary history. I sounded exactly like one of those snobbish articles that I would usually make fun of, where a ‘serious’ writer decries the ills of blogging. I even went so far as to question her work ethic.”
He then obsessed over the problem for weeks until he arrived at a possible solution. Too many entrepreneurs waste time creating products nobody want. The easiest way to build a valuable business is to solve a problem.
Richard Branson says, “Find a problem lots of people have, and you’ll create a big business lots of people want.”
2. Test the idea with an MVP.
Max explained that he played around with the solution and called his friend.
“What if I told you that you can spend about 12 hours talking to me, and I can turn that into a completely finished, professional book for sale on Amazon and everywhere else,” he told her.
She loved the concept. Max created a very simple product outline. Then, instead of wasting hundreds of hours developing a product, he threw together some resources and figured out a way to “hack” together a simple product.
3. Validate with paying customers.
Nothing validates a business more than paying customers or active users. Not investment dollars, not partners, not the team (although all of these things can help), paying customers and/or active users are the holy grail to validation.
As Max was working through the process and creating his MVP, he told a few other people about the idea, who all loved it.
“Everyone loves every startup idea until it comes time to pay, right?” he says. “Except two of them bought packages, with real money, right then.”
A few weeks later he was on a podcast and sold four more packages before a formal product offering was created. It was at that point that he and his co-founder knew they were solving a real problem people would be willing to pay for.
Read the full article:
Curated from The 4 Steps a Startup Used to ‘Book’ $200K in 2 Months
Note: Featured Image credit to cdn1.tnwcdn.com