Last updated on February 14th, 2021. Posted in Market Research For Online Business.
Practically all new business owners and entrepreneurs start out the same way (myself included!): They start by coming up with a "magical big idea" first. Nearly everyone believes that in order to be successful in business, you have to come up with a unique, original idea that's never been done before.
Here are links and resources mentioned in today's video. Enjoy!
Where do you think this belief -- that you need to come up with a completely original idea -- comes from? Maybe it's from "overnight success stories"...I dunno.
Truthfully though, starting with a "magical big idea" first fails practically 100% of the time. And this is due to a variety of reasons.
Here's one big reason: By starting with a "magical big idea" first, really what business owners are doing is working hard to fill their own needs...not their customers.
This is the biggest problem that artists, writers, musicians, and other creative-types have -- and I feel for creative-types cuz they're my people! The reason why creative-types have such a hard go of things is that they're filling their own creative needs first, not their audience's.
The definition of business -- real, true business -- is opposite to this. Here, it's all about finding out what audiences and markets want FIRST...and then to go create it for them in the form of a product or service.
Yet even though this is the true role of business, many new entrepreneurs and business owners start out just as artists, musicians, and creative-types do...by putting their needs first...with the needs and wants of their audience of customers being largely irrelevant.
That's why creative-types struggle...and why nearly all new business owners struggle so badly.
Now I'm not saying artists and creative-types should sell out. Not at all. I'm merely pointing out why they often struggle to find an audience to support their work.
It's important to always remember that audiences get to decide what they spend their time, attention, and money on.
Hope you enjoyed. See ya next time!