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47 Comments

I just accepted a challenge to build and release a product in 30 days with a $5,000 penalty 🤯

https://twitter.com/vadymhimself/status/1412793930018562049
submitted this linkon July 8, 2021
  1. 3

    Inspiring! Good luck!

    1. 2

      Thanks! I'd appreciate it if you followed the challenge on Twitter https://twitter.com/vadymhimself

  2. 2

    Motivation == STRONG ! ! !

    1. 1

      Motivation == Number.MAX_VALUE 😅

  3. 2

    This sounds so hard. My gut advice is to go for B2B, aim for 10 sign ups charging them $10K for an annual subscription. Then pay $5K to that mastermind secret club, watch them flex, thinking you lost... then you drop your profit of $5K on the table.

    1. 2

      Nah, been in B2B before. Sales would crash my mental trying to sell it this early.

  4. 2

    Well, good luck then :)

  5. 2

    Wow I love the idea!

    1. 1

      Kind if crazy, but yeah :D Would you accept the same challenge?

      1. 1

        I would consider it if it was around 10x less the risk haha.

  6. 2

    Insane? Maybe.

    Now stop talking and go building :)

    1. 1

      On it 😎 Just needed even more accountability by announcing this in public😅

  7. 2

    I love a challenge! What's your plan for launch?

    1. 1

      Thank you!

      To be honest, I hope to quickly create a very good offer and collect the 50 sign-ups just for the waiting list :D

      But if this + friends/family won't work I will try to get the MVP ready by August 1st and launch on Twitter.

      Do you think it's a good plan?

      1. 2

        Curious what you have in mind for the "very good offer" to entice people to the waiting list?

        1. 1

          I am going to bundle pretty much all of my smaller products + guides + e-books into the early bird ticket.

          1. 2

            I'm a little confused - is the goal 50 people on a waiting list, or 50 people to buy an early bird ticket?

            1. 1

              To be honest, I’m not certain myself at the moment.

              Obviously I want to aim for paid users, but since the challenge was defined simply as “50 sign ups”, seems like I can fall back to just waiting list at any time.

              1. 2

                If you don't pick a goal, it's hard to make a plan to achieve it.

                Some questions I would ask:

                • do you have a reliable channel to reach potential customers (I.e. an email list of people who have a reason to trust you as someone who can help them?
                • you're not actually in control of people pulling out their wallets, or giving you an email address. Your potential $5k loss is in the hands of other people's decision. What do you gain for picking the harder of the options?
                • if you're doubting yourself, the best way to get over it is to set yourself up for a win. Business and life aren't video games, you don't win extra points for playing on hard mode. What's the best outcome you have evidence is truly achievable with the resources you have? Instead of moving the goal posts later, place them for your best chance at a win now. Small wins add up to confidence, as well as bigger wins.
                1. 1

                  WOW Alex.

                  That’s some extremely wise and useful advice. #BuildingInPublic is indeed the best choice I’ve ever made.

                  I liked this the most ->
                  “Business and life aren't video games, you don't win extra points for playing on hard mode”

                  You deeply touched me with this. It resonates a lot with my overall life tbh. It seems like I’m always playing it on the hard mode. Then failing to win big, failing to celebrate small, eventually tearing myself apart with self-doubt.

                  You are absolutely right, I need to set myself for an easy win with this.

                  In fact, I already had 3 or 4 signups to an old Airtable form that weirdest funnel I have right now: Twitter -> GigRadar.io (which just redirects to IH) -> Airtable form somewhere on the page. I should consider these the first sign ups.

                  Do you agree?

                  1. 1

                    Glad it resonated :) it's a big mental shift that lots of maker-y type folks struggle with.

                    Even the other comments on this thread cheering you on for taking on an extremely difficult challenge...I think it's valuable to interrogate why folks respond that way, and if that's actually healthy or valuable for you.

                    IME, for many people, it's not that they want to see you succeed or fail, they want to see a show. They're here for the excitement, and excitement is a very brittle foundation for a business.

                    If I were in your shoes, I'd be focusing on building my reach to potential customers. I'd offer a valuable and relevant incentive to sign up for the waiting list, e.g. look at those past guides, etc, and see what is most likely to attract the kind of person who'd benefit from and pay for the paid service.

                    Once you get 50 people on the waiting list, you'll realize that you can get 100. Then 500. Then 1000. And not just people on the list, but people who trust you enough to solve their problem that when you offer something paid, a larger % of them will actually consider taking out their credit card and buying. '

                    Once you have that list, and you know who's on it and why, it becomes SO much easier to do a 30 day challenge and actually make sales. That's how my partner wrote and launched a book in 24 hours that's sold nearly 10,000 copies since launch. Not only did she use every advantage she had, but she chose a difficulty setting that wasn't designed for "excitement" but instead, for effectiveness.

                    Challenges are great as long as you remember to set yourself up for wins instead of optimizing for "glory."

  8. 2

    Good luck! :D

  9. 2

    Good luck!

    What is the product?

  10. 2

    This is cool! What's the plan if you fail? Are you donating it to a charity or what?

    1. 2

      Thanks!

      I actually have to donate it to the private mastermind group that pushed me to this challenge.

      They promised to buy fancy stuff and flex around my eyes in it 🤦

      1. 2

        Hurts even more when the money is not going to a good cause lmao

      2. 1

        Would love to know how you went about finding or building a mastermind group. If you don't mind sharing.

  11. 1

    Wow! That's quite the level of commitment. How exactly does it work? Did you give $5,000 to a friend to hold on to?

  12. 1

    Excited to follow!

  13. 1

    Umm okay, yeah, you're not losing that challenge.

    However, the chances of you shipping a bad & rushed product are astronomically high.

    1. 1

      Better now than perfect! ✨

  14. 1

    Amazing and a little insane. But I think that's awesome and I applaud your dedication and all-in mentality. I'll be following your Twitter feed. Good luck!

    1. 1

      Appreciate your support so much! Thank you for the kind words 🙌 I hope to make it

  15. 1

    What are you planning on building? Is that 50 email signups or paying customers?

    1. 1

      Building a side project that stalled a little while ago GigRadar.io

      I plan on doing 50 paying customers. Do you think it’s realistic?

      When we defined the challenge we just used “50 users”, so I guess I have an easier way around.

  16. 1

    Yes you're insanse. But I love that insanity. I will have a look for your progress

    1. 1

      Thank you! Please follow the updates in Twitter 🙌

  17. 1

    Great challenge and good luck 😊

  18. 0

    Nope - you’re not insane. You’re driven.

    Best of luck!

  19. -1

    This comment was deleted 4 years ago

    1. 1

      I don’t have that much money, and $5,000 is a considerable loss anyway. It would hurt a lot ☹️