As an entrepreneur, how to develop yourself when you have no money, no team-part 1

In fact, we must not think about making money to be a too complicated and heavy job, and we do not need to bet on all your assets. I have tried to lay out three business plans and spent two weeks preparing product and one month on business models. After that, an automatic business established, and this business now brings me a steady stream of income every month. And I only need to spend less than an hour each week to take care of this business. With or without money, the first thing an entrepreneur must do is to use his brains. When I was doing this business, I thought about a very interesting idea and spent a day doing it. Now about a year has passed and someone is still sending me money for this idea. In fact, business is so simple. Does it sound mysterious? Do not worry, I can decrypt some of the secret for everyone, maybe after you see it, you can set up your own exclusive business immediately. In fact, doing business do not need to be complicated. As long as your direction is correct, you can quickly establish an effective business model in a simple way.
First: Positioning, and looking for customers.
The first thing we did at the beginning of our business was to look for customers. It’s impossible for ordinary people to start a business and making money from all kinds of people. We can only quickly find our way into a certain business scenario, and find a specific group of people and solve specific problems. For example, at the beginning, someone put forward the concept of shampoo and began to make money. Later, the types of shampoo on the market increased, and the competition slowly formed the Red Sea. In order to stand out in the competition for homogenization, a new company has put forward the concept of anti-dandruff shampoo so that it is easy to distinguish it from other shampoos and solve another problem of different customer groups. Slowly, some companies have put forward the concept of shampoos for infants and young children. We imagine that if a company proposes its shampoo, it can be used as a hairdresser, it can also be dandruff, and it can also maintain the scalp. It is suitable for people of any age. It is a product that can be used by all human beings. Its strategy is to cover all the people. Such a product seems to be able to do anything. However, there is no clear target customer. Nothing works at all. There is no distinctive features. How would it be?
Therefore, we must have a clear positioning, at the beginning when you look for the users, you can first do a user portrait, such as the user’s academic qualifications, working hours, age groups, common problems and so on. At the beginning of the automated business that I did, I thought about the characteristics of the customers. According to these characteristics, I arranged the business plan. The results were similar to what I had expected. About 70% to 80% of the customers had their features in line with my previous judgments. There are even a lot of customers whose working hours, age groups, and problems are exactly the same as what I expected. Again, the first thing a successful business owner needs to do is positioning.
Second: Determine the market size of this business.
There are too many market segments in the world. Some business seems to have great chances at first glance, but when you do it, you only discover that the number of customers and the capacity of the market are very few. Maybe this business is a worldwide one. And only got one person, you doing it, but you may even get several dollars a day and the market size is just too small. When forecasting the market size, do not trust any industry reports or industry trends. Someone took the industry report of a project and told me that the prospect of this industry was huge, but later we analyzed it and really down into the real environment, you will find those markets that are at a scale of hundreds of millions, was just a shredded market, there may be only one thousand shares of the total in a certain area, and you will also face competition from unlimited businesses. For example, in the breakfast market, the breakfast market in X city has a scale of a few hundred million dollars. This is the prospect of the industry, but we generally cannot completely take away all the shares of X city. It may just start at a certain area. In a street with a service radius of no more than 1 kilometer, you may find that perhaps the market share that you can really get is only a few thousand dollars, but there are 7 or 8 similar restaurants that compete with you. The scale of the breakfast market for several hundred million in the X city did not have a relationship with us.
OK, anyway, you must understand this truth. Before you do business, be sure to investigate and consult on how much market share your project can get clearly. This is a decisive factor in judging whether your business is worth doing or not. (to be continued)

Leave a Reply

Your email address will not be published. Required fields are marked *