Hi!
What do you think about starting a business ?
Many people who want to start an entrepreneurial journey get stuck in a place where they feel they need a brand new idea to start a business. Good ideas are important, but not necessarily for starting a business.
Most of the time, we see new ideas being exposed in the media. The media loves stories about how a simple idea changed everything and there is a lot of demand for such stories in the market. It gives people hope that they can start something - if they had the right idea.
Truth be told, having good ideas leads to higher rankings.
Sometimes people come up with "fantastic" ideas but they don't do it right. You can succeed in business if you know how to act well. An idea is useless without implementation.
Google is not the world's first search engine. Before Google there were many search engines like Ask.com, Excite.com, Yahoo etc. Google did a great job with ranking your website and today Google has become the most used search engine in the world.
Facebook is not the first social network in the world. Orkut, MySpace, Friendster, High5, and many other social networks benefited from the first mover. Facebook was able to defeat them all because they carried out the project well.
There are so many opportunities in the world that can be exploited. If you keep your eyes open and explore the problems of the world, you will find ideas on how to solve problems and how to pay for them.
You have to do what people want. This may sound like a simple idea, but many people marry an idea and don't let it go. People create what they think people want and try hard to persuade the market to buy their products.
Instead of creating something and then convincing people that they need it, you can go ahead and spend time in market research, understand what people want and then create a product that So you can be sure that people will pay the price.
Competition is a good thing.
If you are entering a category where there is no competitor, it will not be as interesting as you think it could be.
Many new entrepreneurs feel that they have to enter a market where there is no competition.
They think it will be easier for a startup to succeed in a market where you are the only player.
Nine out of ten times, the competition does not exist in this category only when there is no opportunity in that category.
If you want to make money, there must be at least some players who are already in the market.
When I started selling my digital marketing courses, there were a lot of people out there who were already selling digital marketing courses.
I came and innovated the value that helped me enter the crowded market.
One in ten, it could be an opportunity no one else has seen. You may be lucky.
In such cases, you may benefit from the first mover and you may benefit from it.
If you're a first-timer, you shouldn't get too excited about it. As soon as you enter a new market that has a lot of potential, others will start competing with you if they see that you have to make money.
You need more than luck to succeed in affiliate business.
Many enter the market and then lose the competition because of lack of resources and poor execution skills.
It is unlikely that you will find the market segment that is yet to be tapped.
Make sure you get a gold mine before you get too excited about a new opportunity. 90 The time, if you want to make money in the market, you must find competitors.
Observe what they are doing, what their customers lack and serve them.
If you can find a place in a market, you can be a leader in that market segment and stay in touch with your competitors. For example, Facebook and LinkedIn are social networks, but one focuses on personal life and the other on professional life.
People prefer LinkedIn for professional networking. The two social networks can coexist as they focus on different segments and needs in the same market.
Create value.
No need to think too much about what you are going to do to earn income and profit. Whatever product or service you create, all you have to do is make sure your customers are getting more in return for what they are paying for.
If you can pay 10x the price for your products and services, you will stay in business for the foreseeable future. If someone pays you Rs.1000, what you get in return should be worth at least Rs.10,000.
Once you learn how to create value for your customers, you won't have to worry too much about competition.
You will be able to rise above your competition and create a crazy price for your customers that they will become your marketing machine.
A good product is naturally talked about and it will be the key to your success as a business person.
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