BRING A FRIEND TO THE MARKET. Invite 1 person, just 1 to listen to this episode
Great ideas
Problem solving
Employee 1st (garyvee concept)
Then customers
Profits will come
Business plan
Market Research - establish a need
Airbnb Co-founder Brian Chesky: "If we tried to think of a good idea, we wouldn’t have been able to think of a good idea. You just have to find the solution for a problem in your own life."
Demand: Is there a desire for your product or service?
Market size: How many people would be interested in your offering?
Market saturation: How many similar options are already available to consumers?
Pricing: What do potential customers pay for these alternatives?
Business plan
foundation of your business. It’s a roadmap for how to structure, run, and grow your new business. You’ll use it to convince people that working with you — or investing in your company — is a smart choice. (https://www.sba.gov/business-guide/10-steps-start-your-business)
The legal structure you choose for your business will impact your business registration requirements, how much you pay in taxes, and your personal liability.
Keep your business running smoothly by staying legally compliant. The licenses and permits you need for your business will vary by industry, state, location, and other factors.
Plan for the future: lay out goals and metrics for success
how to stand out from competitors
financial projections to make a strong start
Create your buyer persona and determine your product/marketing fit (https://blog.hubspot.com/sales/small-business-ideas)
Marketing - Attention
Location: Where do your customers live and where can your business reach?
Mindset
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WHAT’S THE KEY: Learn → test → “perfect” → Scale up = $$$
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