CHAPTER TWO | HOW TO DECIDE ON THE KIND OF BUSINESS YOU SHOULD DO
If you want to make a mark in the business world, you should not be doing what everyone else is doing.
Don’t Create A Product or Business and then Look For Customers…Rather Look For What People Want And Then Create A Business Around It
I decide on what to sell only AFTER I have seen a market that wants to buy. Rather than create a product and look for customers, I discover customers (market) and then create a product or service for that market. I am not in love
with any kind of business or service. I am in love with the market. I will sell anything (legal) that will satisfy that market.
Sidenote: Selling information products is a very lucrative business. It does not require much money to start.
Let your daily experiences and interactions with the world decide which market you should go into. Don’t think about products. Think about markets. Don’t be a student of products. Be a student of markets.
Because if you have a starving crowd to sell to, your restaurant would be very successful even if your food is terrible. Look for your own starving crowd. Discover what they want and create a business around it.
Forget the ideas you currently have and let the demands of a market influence the kind of business you do.
People want the best deal. Give them.
I am more concerned about the market. About the “WHO”. What is that thing LACKING that people are ready to pay more money for?
Sell What People Want To Buy…Not Necessarily What They Need To Buy
You see, the truth about business success is that once you offer people what they WANT to buy, your business will make you more money than you can ever spend. Lack of adequate capital will not be an issue as customers and investors will literately beg you to take their money.
Sell what people WANT to buy not what they NEED to buy.
If you want to make a lot of money as a small business and if you want to give yourself a big chance at success with your business, you should sell what people WANT to buy and not what people NEED to buy. Products people
need to buy will make you decent money but products people want to buy will fly off the shelves…Faster Than Usain Bolt
You have a bigger chance of success when you sell wants. When it comes to wants, human beings do not make their buying decisions based on common sense. We tend to buy emotionally.
It is very important to consider people’s wants when you are setting up your small business. Even if people need your product, make sure they want it as well.
When it comes to wants people make decisions with their hearts and not their heads so it makes it easier to sell.
No one cares about what (the work) you put into a product, they only care about what your product can do for them.
You should not make decisions based on sentiments or charity. Your focus should be on profits. If you want to help, take some of your profits, form a charity or work with an existing one. Your job as a business man is to make as
much money as possible.
Find a market before you think of the product. Find out if people really want the product. Is there a starving crowd? Then you can choose a business.
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