Are you starting a business for the first time? If this is your first foray into business you are much better of finding a concept that already works and improving on it then trying to launch your latest idea.
Look at how the Japanese identified the opportunity in the automotive industry. They imitated and innovated on an existing proven demand and are now the market leaders.
They did not try and create a new market for an unproven idea. They came, copied and improved on an existing concept.
Many of the most successful business men in the world have used already established formulae for making money and just done it slightly better or added a new twist. Adding your own "flavour" and thereby creating your own unique business will still be fun.
Banks are much more likely to look favorably at a proven business model than to back a new and unproven idea. This is probably the reason why when you buy a franchise you can get funding of up to 70%.
Have a look at the successful businesses operating in your local area that are already making money and see how you could do it better. Perhaps by choosing a better location, you might attract many of their existing customers to your business.
Maybe you can offer a higher level of service and charge higher prices thereby attracting the high value customers.
It is much more difficult to launch a brand new concept and create a new market than to create a novel way of supplying existing demand and just improve on the basic delivery.
Once you have experience in running and managing a successful business then perhaps the time might be ripe to test your own ideas.
Does higher reward come with higher risk? Perhaps it is better to set your sights slightly lower and build a foundation that can serve as a platform for more risky ventures?
Showing posts with label business idea. Show all posts
Showing posts with label business idea. Show all posts
Tuesday, May 3, 2011
Wednesday, July 14, 2010
Why People Fail With Their Online Business!
I don't think it's any one thing that causes people to fail but it's a combination of things. Here are some things people do wrong that hastens their failure...
They get "info overkill!" It is a bad habit that is very common. People will buy everything new that comes out and they will do NOTHING with it. They become "professional buyers" and become inactive. A lot of them will buy ebooks they never read. You don't have to know everything, you just have to know how to start. Take action and do something.
They have the wrong attitude. If you THINK you can't succeed, you won't! I am a firm believer that your mind believes what you continually tell it. If you think you are a failure, you will be a failure. If you think you can't write an ebook, you won't write an ebook. GIGO - Garbage In Garbage Out!
One word, "traffic!" You have to spend some time learning how to get traffic to your site. The only reason most people can't learn "traffic generation" is laziness! Yes, laziness! There are SO many resources out there that there is no excuse for lack of knowledge.
Desperation! Some people are just too desperate and want to make money too fast. Online success is not something that lends itself to desperate people. It takes time to become an online success. It takes at least SOME money to become an online success. If you are desperate, the internet is not the place to try to make quick money. Get a job and work on the internet part-time.
You CAN make money online. You CAN become a successful internet entrepreneur. The main thing is that it takes patience and that is not something a lot of us have.
Chris W. Sutton
Online Business Insiders
They get "info overkill!" It is a bad habit that is very common. People will buy everything new that comes out and they will do NOTHING with it. They become "professional buyers" and become inactive. A lot of them will buy ebooks they never read. You don't have to know everything, you just have to know how to start. Take action and do something.
They have the wrong attitude. If you THINK you can't succeed, you won't! I am a firm believer that your mind believes what you continually tell it. If you think you are a failure, you will be a failure. If you think you can't write an ebook, you won't write an ebook. GIGO - Garbage In Garbage Out!
One word, "traffic!" You have to spend some time learning how to get traffic to your site. The only reason most people can't learn "traffic generation" is laziness! Yes, laziness! There are SO many resources out there that there is no excuse for lack of knowledge.
Desperation! Some people are just too desperate and want to make money too fast. Online success is not something that lends itself to desperate people. It takes time to become an online success. It takes at least SOME money to become an online success. If you are desperate, the internet is not the place to try to make quick money. Get a job and work on the internet part-time.
You CAN make money online. You CAN become a successful internet entrepreneur. The main thing is that it takes patience and that is not something a lot of us have.
Chris W. Sutton
Online Business Insiders
Tuesday, July 13, 2010
Why People Fail With Their Online Business!
I don't think it's any one thing that causes people to fail but it's a combination of things. Here are some things people do wrong that hastens their failure...
They get "info overkill!" It is a bad habit that is very common. People will buy everything new that comes out and they will do NOTHING with it. They become "professional buyers" and become inactive. A lot of them will buy ebooks they never read. You don't have to know everything, you just have to know how to start. Take action and do something.
They have the wrong attitude. If you THINK you can't succeed, you won't! I am a firm believer that your mind believes what you continually tell it. If you think you are a failure, you will be a failure. If you think you can't write an ebook, you won't write an ebook. GIGO - Garbage In Garbage Out!
One word, "traffic!" You have to spend some time learning how to get traffic to your site. The only reason most people can't learn "traffic generation" is laziness! Yes, laziness! There are SO many resources out there that there is no excuse for lack of knowledge.
Desperation! Some people are just too desperate and want to make money too fast. Online success is not something that lends itself to desperate people. It takes time to become an online success. It takes at least SOME money to become an online success. If you are desperate, the internet is not the place to try to make quick money. Get a job and work on the internet part-time.
You CAN make money online. You CAN become a successful internet entrepreneur. The main thing is that it takes patience and that is not something a lot of us have.
Chris W. Sutton
Online Business Insiders
They get "info overkill!" It is a bad habit that is very common. People will buy everything new that comes out and they will do NOTHING with it. They become "professional buyers" and become inactive. A lot of them will buy ebooks they never read. You don't have to know everything, you just have to know how to start. Take action and do something.
They have the wrong attitude. If you THINK you can't succeed, you won't! I am a firm believer that your mind believes what you continually tell it. If you think you are a failure, you will be a failure. If you think you can't write an ebook, you won't write an ebook. GIGO - Garbage In Garbage Out!
One word, "traffic!" You have to spend some time learning how to get traffic to your site. The only reason most people can't learn "traffic generation" is laziness! Yes, laziness! There are SO many resources out there that there is no excuse for lack of knowledge.
Desperation! Some people are just too desperate and want to make money too fast. Online success is not something that lends itself to desperate people. It takes time to become an online success. It takes at least SOME money to become an online success. If you are desperate, the internet is not the place to try to make quick money. Get a job and work on the internet part-time.
You CAN make money online. You CAN become a successful internet entrepreneur. The main thing is that it takes patience and that is not something a lot of us have.
Chris W. Sutton
Online Business Insiders
Subscribe to:
Posts (Atom)