Whether you currently own a business, or you
are trying to add additional streams of income
to the business you already have, you need
to give that idea the best chance possible.
I personally have started close to a hundred
businesses, but before you roll your eyes;
I started them only on paper.
You see, as entrepreneurs, we need a good
set of tools that will help separate out the
really good ideas from the really crappy
ones.
A simple “A-ha” moment in the car on the
way to work could either set you up for life
or it could bankrupt you due to NOT starting
it on paper first.
Here is the technique that I go through
before I start any business:
1. Is there a starving crowd? You have to
have a niche that is already asking for
what you have to sell.
2. Are you selling a WANT instead of a need?
Nobody skips a mortgage payment to buy toilet
paper (a need), but they will sell their
left leg to science in order to get that new
car (a want).
3. Is you idea a minimum 10% improvement
on a current hot-selling idea? Don’t INVENT
your market. It’s really expensive to have
to educate your customers BEFORE they even
want what you have to sell.
4. Do you have a marketing plan that will
bring in revenue from multiple sources?
5. Do you have a Unique Selling Proposition?
http://www.UltimateUSPCreator.com
6. Is the price of your product hundreds of
percent higher than your cost?
http://www.product-pricing-strategy.com
7. Do you have the backing of a group of
people that can help you through any problem
that may arise during your business-building
process?
http://www.how-to-business-network.com
8. Do you have at least 6 months of operational
expenses saved up, so that you can float your
business through its most fragile time? 1 year
is even better.
9. Is this something you LOVE more than oxygen?
You have to be completely obsessed about your
business in order for it to be successful.
Just ask my fiancée. I’m a huge nerd about my
business. I carry a notepad with me everywhere I
go and I’m always on the lookout for new ideas.
If you aren’t obsessed and excited about it, scrap
it BEFORE you start it. I don’t care if no one else
is excited about it. As long as YOU are, keep
going.
Until tomorrow,
Joshua Black
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Copyright 2010, Outer Limit Productions LLC.
All rights reserved.
Download these other great products to help
your business earn huge piles of moolah:
http://www.product-pricing-strategy.com
http://www.how-to-business-network.com
http://www.ranking-higher-seo.com
http://www.UnderdogMillionaire.com/blog
http://www.sales-letter-system.com
http://www.closing-the-sale.com
http://www.information-product-report.com
http://www.UltimateUSPcreator.com
http://www.underdog-success-formula.com
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