TipSet #3

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

Click Here to Listen to the Audio/PODCAST Version

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!”


Anonymous Anonymous said...

this was probably the best podcast so far on the site. 11 minutes worth of straight learning and motivation. these things are quality.

6:49 PM  
Anonymous Anonymous said...

What do you use to record this? Can i get a link for the mic?

11:01 PM  
Blogger Dr G said...

I use a Cyber Acoustics "cheap-o" mic. One day we will upgrade but for now it works pretty well for the $10 price tag. Here is a link

11:20 AM  

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