Archive for July, 2013

July 17, 2013

Don’t Get It Backwards

One of the common mistakes aspiring entrepreneurs make is to come up with a product idea before they figure out who to sell it to. They fall in love with some concept they’ve been thinking about, perhaps to solve a problem they personally have. Then they create a product to address that problem, and maybe even come up with a good solution for it.

But if very few other people have that same problem, the potential market won’t be very large. The¬†entrepreneur could experience¬†what I call “terminal success”: achieving 100% market share after 10 sales. You’re awesome if you reach 100% market share, but if your market consists of only 10 possible sales, you’re sunk.

Don’t get it backwards. Focus on finding a potential problem to solve, figure out if it’s a big enough market, then create a product to address it. It’s way cheaper to change your focus before you build a product, then to build a product first and find out the market’s too small.

July 8, 2013

The Best Time to Plant a Tree

The Second Boom has arrived, for Baby Boomers who want to start their own businesses. It’s not too late — I talk about it in my series of 3 training videos that are absolutely free just for opting in. Go here to find out more:

http://www.TheSecondBoom.net

Some people say that Boomers are past their primes. I say, baloney, it’s not too late to figure out a business that fits your passion and knowledge. And an old Chinese proverb says, “The best time to plant a tree was 20 years ago. The second best time is now.”

Start your Second Boom. Make it big.