What do you want to do?
If you were guaranteed success -
what business idea would you choose?
Think and Grow Rich Action Step #1)
Develop Definiteness of Purpose
Success and progress towards achieving your goals in life
begin with knowing where you are going.
Here is the first question you should ask:
How do I come up with My Business Idea?
If you could pick any business idea -
and be guaranteed that it would be a big success -
what idea would you pick?
So you have a business idea.
Maybe it’s something you have done all your life and you want to do more of it.
Maybe you just lost your job and want a new direction.
Maybe you will do anything to make money.
Whatever the motivation, you have to obey the Law of Compensation.
This “Law” is best explained with the following definition
provided by Earl Nightingale,
the pioneer of self development audio recordings:
The amount of money you receive will always be in direct proportion to
1) the demand for what you do,
2) your ability to do it, and
3) the difficulty of replacing you.
So – you want to be be in a business that
1) is in demand
2) a business where you can perform well
3) and a business that enables you to be indispensible -
where it is not easy to get a replacement for you.
So what do you do?
“When your marketing is done well,
your products virtually sell themselves.”
Joe Vitale – author, Internet celebrity and one of the co-stars of the movie “The Secret” was once homeless and broke.
After those dark days he succeeded as a writer and wrote a book titled “Life’s Missing Instruction Manual” where he advises those who are shy about marketing their services:
“Said another way, if you have something that would truly benefit a certain group of people and you don’t tell them, aren’t you doing them a disservice?
Again, marketing is basically sharing your love, your passion, your belief,
When you share it with someone who welcomes it – more often than not it leads to a sale, naturally, easily and effortlessly.”
So – just by being passionate about your product or service – you don’t have to worry about marketing or selling.
Think of who you can help.
Jim Edwards, also once broke and living in a trailer, now an Internet marketer and personal development coach and mentor explains:
“It always comes back to the basics.
People buy things to:
1. Make money
2. Save money
3. Save time
4. Avoid effort
5. Escape physical pain
6. Escape mental pain
7. Be popular / feel loved
8. Have fun
There are other reasons, but those are the biggies.
Sell people things that solve their problems in those 8 areas.”
Where does your business fit in?
Which of these 8 areas can you help?
You might be able to help in all eight, but one is enough.
Susan Ward, About.com proposes there are
7 Sources of Business Ideas
Part 1: How To Discover a Winning Business Idea
1) Examine your own skill set for business ideas.
To find a viable business idea, ask yourself,
“What have I done?
What can I do?
Will people be willing to pay for my products or services?”
2) Keep up with current events and be ready to take advantage of business opportunities.
3) Invent a new product or service.
The key to coming up with business ideas for a new product or service is to identify a market need that’s not being met.
Look around and ask yourself, “How could this situation be improved?”
4) Add value to an existing product.
Focus on what products you might buy and what you might do to them or with them to create a profitable business.
Part 2: Business Ideas Are All Around You
5) Investigate other markets.
6) Improve an existing product or service.
There are very few products (or services) that can’t be improved.
Start generating business ideas by looking at the products and services you use and brainstorming ideas as to how they could be better.
7) Get on the bandwagon.
Sometimes markets surge for no apparent reason; masses of people suddenly “want” something, and the resulting demand can’t be immediately met.
You don’t want to run with the first business idea you think of; you want to discover the idea that’s best suited to your skills and desires.
Dream, think, plan – and you’ll be ready to transform that business idea into the business you’ve always wanted.
There are many ideas to choose from – which is the best fit for you?
Dan Kennedy suggests in
The Ultimate Marketing Plan
Find Your Hook.
Communicate Your Message.
Make Your Mark.
Well, what is “marketing,” anyway?
My basic definition is that it is getting the right message to the
right people via the right media and methods.
Law #1 of The 10 Immutable Laws of Power Selling
Create High value – What Problems Do You Solve for Your Customers?
Law #1 of The 22 Immutable Laws of Marketing -
It is better to be first than it is to be better.
Discover the 7 Steps to Making Money Doing What You Love and Marketing it without Selling On the Internet right from your home town.
If I were a lawyer, I guess I’d have gotten used to lawyer jokes – after hearing the same ones year after year.
As a marketer I hear jokes about “salesmen” and “puffery” and other negative comments – as if marketing were bad or evil.
What is marketing, really?
And let’s say you want to start a business, or more likely get more business doing what you have been doing, perhaps for years, maybe even decades.
What do you know about marketing?
Were you in a business where you “did“– and somebody else “sold” –
like a union shop or something where you – like in an auto dealership -
the workers are separated from the customer by a salesman
Please think about and answer the following questions:
Do you have a business or a craft?
What do you love to do?
What business are you in?
What business do you think you are in?
What do you do well – can you teach it? What niche do you want to get into?
Do you have a plan to get Slightly Famous?
How about Regionally Famous?
How about World Famous?
If you were famous – do you think you would get more business?
Do you think you can run your business right from your own home or apartment or small business location?
Sometimes the hardest part is knowing what you want – here is a 3 part way to help you determine exactly what you want – this is a critical step to actually getting it.
Do you have the self-confidence to accomplish your goals – to achieve your dream?
Don’t be embarrassed if you don’t.
Napoleon Hill has a Self-Confidence formula to enable you to achieve anything you want from life
Have you always dreamed of doing a certain thing, being in a certain business, living a fantasy day?
Who do you admire in a business or job – is there someone you want to be like or do what they do?
After deciding on a business idea – or the general idea – it is time to decide what to call yourself.
HOW do you come up with Your Business Name –
and HOW do you register it so you can use it on the Web
Step #2 – How do you come up with Your Business Name?
Return to 17 Steps to Success
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