A lot of people want to become entrepreneurs just to make money but building a successful business that helps people is a better focus.
This mindset shifts the focus of your efforts from self and the short term, to others and the long term.
Here's how I start a business...
This mindset shifts the focus of your efforts from self and the short term, to others and the long term.
Here's how I start a business...
When I start a business I always start with the problems I want to help a few people solve.
The article "1,000 True Fans" written by Kevin Kelly back in 2008 talks about help a focused group of people
kk.org/thetechnium/10…
The article "1,000 True Fans" written by Kevin Kelly back in 2008 talks about help a focused group of people
kk.org/thetechnium/10…
One trait that all business people should build is the concept of Servant Leadership.
Focusing on why you want to serve your audience/market, helps you grow your company effectively.
Starting with what can be improved and building up your people is essential for success.
Focusing on why you want to serve your audience/market, helps you grow your company effectively.
Starting with what can be improved and building up your people is essential for success.
Truly groundbreaking businesses and technologies start with what's wrong with and can be improved in existing products and practices.
I use forums, reviews, user/customer research and articles to get to the heart of the problem my business solution should solve.
I use forums, reviews, user/customer research and articles to get to the heart of the problem my business solution should solve.
Niche down. Differentiate. Build your moat.
Don't do exactly what everyone else is doing because it looks easy.
And if you're gonna start a business around products/services that are widely available you need to differentiate either your offer, target audience or both.
Don't do exactly what everyone else is doing because it looks easy.
And if you're gonna start a business around products/services that are widely available you need to differentiate either your offer, target audience or both.
Prior to choosing your business, step back for an hour to a day to look inward.
Assess your goals, skills, interests, finances, free time, networks and other resources.
This life assessment will help you determine whether you should start a Lifestyle, Growth or Value business
Assess your goals, skills, interests, finances, free time, networks and other resources.
This life assessment will help you determine whether you should start a Lifestyle, Growth or Value business
Lifestyle businesses often generate revenue as soon as they start.
Growth businesses may not generate income immediately, but can be scaled massively.
Value businesses generate revenue immediately but require lots of capital to start and grow.
Growth businesses may not generate income immediately, but can be scaled massively.
Value businesses generate revenue immediately but require lots of capital to start and grow.
I've talked about Lifestyle and Growth businesses before in the tweet below.
Value business were recently added to my mental model due to them being in areas with well established market demand but without the growth rate of Growth businesses.
Value business were recently added to my mental model due to them being in areas with well established market demand but without the growth rate of Growth businesses.
Value businesses would be categories like the list below:
Franchises
Insurance companies
Industrial/Manufacturing companies
Product/Materials suppliers
Land leases
Agriculture
Imports/Exports
Infrastructure
Utilities
Franchises
Insurance companies
Industrial/Manufacturing companies
Product/Materials suppliers
Land leases
Agriculture
Imports/Exports
Infrastructure
Utilities
I share other great insights like this in my email list.
