Last updated on January 25th, 2021. Posted in Finding Profitable Ideas.
Most times, new business owners and entrepreneurs are so filled with certainty, excitement, and motivation early on, that they never stop to ask themselves a critical question: How can I be sure that my business idea will work?
Here are links and resources mentioned in today's video. Enjoy!
Rather than stop and ask themselves this critical question, they forge ahead, saying things like, "I'm taking the plunge!" "I'm taking a leap of faith!" "I'm jumping in with both feet!"
...these sorts of phrases create imagery of jumping off a cliff...or jumping into a deep lake.
Let me ask you: If your friend didn't know how to swim, and they told you they were about to jump into the deep end for the first time...would you say anything? Would you try to stop them? If you're a good friend, of course you would, right?
You know that they can learn to swim...but that it doesn't start with doing something as reckless as jumping into the deep end right off the bat.
And getting started in business is exactly the same. Very often, I hear new entrepreneurs, shortly after they've taken their leap of faith, say things like...
"I'm in way over my head!" "I'm floundering!" "I'm gasping for air"
My point here is that just like swimming, business principles are learnable. That taking a leap of faith and jumping in with both feet right off the bat is reckless and risky...and it doesn't have to be.
And so as a new entrepreneur, your business journey doesn't begin with leaping off cliffs or diving into the deep end for the first time or even coming up with some "magical big idea" that you're sure will work.
Instead, it all starts with figuring out 1) the sorts of people you want to work with -- that is, the audience or special interest group you want to serve, 2) finding out the pains, problems, and challenges they have, and 3) Determining if you can fix or solve any of their problems at a profit.
THAT, my friend, is the fundamentals of business!
Hope you enjoyed. See ya next time!