A great review for those starting a business or in the midst of next-level expansion.
Pointers:
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"Focusing on these 2 questions will eliminate the need for outside consultants:
--- Is the business making money now ?
--- If not, what can we do to fix this now ?"
"There are only 3 things you need to start a business, and there’s no need to complicate this list :
--- Product or service
--- People willing to pay for your product or service
--- A way for them to pay you"
"Find something people want, and give it to them. Give people what they actually want, not what you think they want."
"If you’re good at one thing, you’re probably good at other things too. Transfer skills and keep learning."
"Sell an emotion, not product. The success of a business is directly related to how good you make them feel about themselves."
"Could a side-project for this business also morph into a business?"
"Freedom is very close to value provided."
"Definition of value: Something desirable and of worth created thru exchange or effort."
"Help people. Ask: 'How can I help my customers more?' If you make your business about helping others, you’ll always have plenty of work."
"Make your customer a hero... Help clients become Microsoft rockstars... 'Our training programs make customers look like rockstars to their friends and colleagues.' ”
"Sell what people buy already."
"Give more: love, money, acceptance, free time. Take away: stress, conflict, hassle, uncertainty."
"Latch onto a popular hobby, passion or craze. Anything that attracts a huge number of followers and an equally huge number of detractors (to keep the buzz going) is a good business opportunity. If interested parties love the activity but lack the discipline to implement it into their daily lives, you then have a great business opportunity."
"After building a loyal following, your customers will (and should) pounce on the new offering with gusto. Ask 'Will you be willing to pay for what we’re offering? What’s your biggest problem with —-? What can I help you with —-? What is the #1 thing I can do for you?”
"If your mission statement is longer than this sentence, it could be too long."
“Plans are good intentions, but they immediately degenerate into hard work.” - Peter Drucker
"In the battle between planning and action, action wins."
"Do a marketable idea, and provide a solution to a problem. Think usefulness, rather than innovation. Do this quickly, so you can analyze your market better."
"You need to really care about this problem, and know how others care."
"Get the first sale as soon as possible."
"The problem you face is inertia."
"How will this business help people? What will you charge? How else will you make money from this project? How can you encourage referrals?"
“I will launch this project into the world no later than (A DATE YOU STICK WITH)."
"They gave the customers what they wanted without hiding their real lives."
"... a bias towards action."
"People follow you because that’s what they’re interested in : you. I follow Shaquille O’Neal’s tweets and posts because I’m interested in what he has to say. If he spent all his time talking about other people and mentioning his other fans, I wouldn’t be as interested. What should you talk about online? Talk about yourself and your business."
"You can price high if you make the value proposition extremely clear. Always make offers people cannot refuse. It should be like getting a marriage proposal from the man of your dreams.
*** 1. Sell what people want to buy
*** 2. Make sure you’re marketing to the right people at the right time
*** 3. Craft your offer into a pitch they won’t turn down"
"Most people like to buy, but don’t like to be sold to."
"People should say about you: 'They won’t let me give them my money.' Some companies brilliantly get customers to market them."
"Who will take immediate action on your offer? How do you get others to?"
"Whenever you spot an inefficiency in the market, you have another business opportunity."
"Emergency, fast solutions will garner quick money exchanges with zero haggling."
“ 'This thing is really awesome!' … is what your customers must say.' "
"Don’t be afraid.
" Offer an air-tight satisfaction guaranteed. This erases customer fears."
"Make people feel good about the action of paying money. Upgrade their purchase unexpectedly and immediately so that they feel good about giving money to you. Go way above their expectations."
“ 'My product is a game-changer.' If you can say this, you have a great business."
"A good business needs nurturing and continuous improvement. As your project grows, take some time to
(1) fix little problems
(2) identify small actions that will create significant results over time"
"ALWAYS focus on the money. If you aren’t making money, you don’t have a good business. Period."
"Don’t be a fire-fighter. Focus on working *on* your business as opposed to *in* it. Working on the business requires a higher-level approach."
"You don’t need anyone to give you permission to pursue a dream."
"If you know what you need to do, the next step is simply to do it. Stop waiting. Start taking action."
"Success is the ability to keep going, to keep the doors open."
"Crafting an offer, hustling, and producing a launch event will generate much greater results than simply releasing your product or service to the world with no fanfare."
"It only gets better as you go along."
"You aren’t alone out there."
"Failure is overrated—who says you’ll fail? You can just as easily succeed."
"More than competition or other external factors, the biggest battle is against our own fear and inertia. Thankfully, this also means we are in complete control of managing it."