#49: How to Know If Your Idea is Profitable with Joshua and Jill Stanton

Udemy Strategy

Joshua and Jill Stanton emphasize the importance of using Udemy to validate business ideas. By sorting courses by price and sales, they suggest looking for products priced at $50 or more with at least 200 sales, indicating a potential market worth pursuing 1. Jill shares an example of a divorce lawyer who successfully transitioned to teaching online, highlighting the value of testing ideas across multiple platforms 2. This approach allows entrepreneurs to gauge demand without financial investment, as Jill notes, "You haven't even spent a dime yet. Like, this is all just previous or prior research before you" 2.

   

Amazon Insights

Amazon serves as another powerful tool for assessing market demand, particularly through Kindle book sales. Jill advises examining the Amazon Bestsellers Rank to determine how well a book is selling, suggesting that a rank under 100,000 indicates strong sales potential 3. She explains that while reviews can be manipulated, sales rankings offer a more accurate picture of market interest 4. As Jill puts it, "You're not looking for the amount of reviews or how many five-star ratings they have. That's not what we're interested in here" 3.