TipSet #3

TipSet #3
If at first you don’t succeed…maybe failure is your thing.


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Finding a Niche
6 Tips
1) Look at where you spend most of your money
-Where there is money there are business opportunities
-Look for ways to cash in
2) Look at where you spend most of your time
-That is the basis behind lawn mowing
-What kills your weekends and spoils relaxing evenings
3) Look for a lack of knowledge
-“What I wish I’d know in…” books
-Class for HS grads about entering the real world
4) Look for complaints
-When people say, “I wish that…” take notes
-People create business ideas but joke about it, take those seriously
5) Look for ways to make things better
-You don’t have to invent a new lawn mowing system to mow lawns
-Basis behind fast food, people want to eat out but don’t have the time
6) Look for ways to connect two parties with similar needs
-FedEx is a classic example
-Delivery service from all restaurants w/ “to go” service

From Idea to Income
1) Create a plan
-Write down a sketch of everything you will need to get started
-Make goals, plan a timetable for finishing things
2) Do research
-Starting a dog teeth brushing service, find out if people actually care about that
-Do surveys, talk to friends, neighbors, and relatives
3) Simplify
-Since we focus on keeping costs down, keep things simple
-Eliminate unnecessary equipment, costs, etc.
4) Test if Possible
-Look for ways to perform real-life tests
-Pass out a couple thousand flyers to test the return rate
5) When You Start, Dive In
-I call this the “cold pool principle”, jump in or don’t touch the water at all
-Commit 100% to making your business work
6) Don’t Give Up
-Realize that your company will not become a trusted, household name overnight
-Trust your research, trust your instincts and your niche; and do as Winston Churchill said, “Never, no Never, give up!”