Struggling with Business Ideas? Do This One Thing to Never Run Out of Fastlane Opportunities

[vkass]

This is ridiculous, read how Noah did 3,500 from events and 1,000 in 24 hours, it's like he lives in a different reality.
Thanks for actual examples MTP.
Seems like ideas are worthless unless they are yours and you keep them a secret

 

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[MTF]

Ideas are always worthless, simply because 99% of people who would hear a genius idea wouldn't take any action. There's a very slight chance someone will steal your idea, and even if he does, it still doesn't mean you can't go through with it.

 

[IceCreamKid]

IMO, ideas are only a small part of the success equation. Ideas are a dime a dozen, but where most people fail is in being able to create a compelling and convincing offer.

The art of selling and persuasion, my friends!

 

[vkass]

I can see why after reading all the comments.
I see all those great ideas that people shared, yet I all I hear in my head is "this wont work", "too simple", "somebody is doing this in my area", "I cant do that" etc...
Even after seeing Noah succeed, his ideas still look "silly". Just gotta plow through the negativity and internal resistance I guess.
Reading does help but it can only show the general direction, it's worthless unless we translate it into action.

edit:
Maybe someone should start an accountability service; you give them money, embarrassing photos\secrets and lose it if there's no consistent action.

 

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[workingtitle]

Maybe someone should start an accountability service; you give them money, embarrassing photos\secrets and lose it if there's no consistent action.

No. If you're not responsible enough to hold yourself accountable you shouldn't be in business.

 

[vkass]

I understood from more experienced guys that after you gain momentum it gets much easier to keep going, so this might help new guys who are scared\overwhelmed\cry babies (like me) get a good kick start.
Then again it might just be mental masturbation

 

[jpa0827]

IMO, ideas are only a small part of the success equation. Ideas are a dime a dozen, but where most people fail is in being able to create a compelling and convincing offer.

The art of selling and persuasion, my friends!

I completely agree with this. I think where a lot of us get hung up is if we haven't found a problem yet to solve (idea), we can't even get to the point of working on persuasion and marketing. Execution is everything, but if you don't have something solid to execute on, then you can't really do much.

It reminds me of what JackEdwards said on his call. I believe he said something like...decide where you want to be and then make sure you choose a business that will get you to your goals, otherwise its not worth starting it to begin with.

@IceCreamKid are you saying that the idea isn't really anything necessarily different from what's out there, but just executed differently...for example, different finance terms or whatever?

I'm still in this idea extraction stage personally. Can't wait to be out of it with something viable to work on.

 

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[IceCreamKid]

It reminds me of what JackEdwards said on his call. I believe he said something like...decide where you want to be and then make sure you choose a business that will get you to your goals, otherwise its not worth starting it to begin with.

That sounds like a very Jack thing to say. That was actually the very first thing he said to me on our very first phone conversation.

@IceCreamKid are you saying that the idea isn't really anything necessarily different from what's out there, but just executed differently...for example, different finance terms or whatever?

When you take your business to its first $100k you will realize how insignificant the idea really is. Seriously. It's all in how you craft the message. Is it compelling? Is it convincing? Does it have that WOW WHAT THE F*CK factor?

There are 2 schools of thought:
1. Extract a very niche idea and grow slowly over time. Kinda like growing a weed from a small seed.

2. Take a product that already sells a lot then add your own twist to it sorta like Dollar Shave Club.

You can create a compelling and convincing offer with both schools of thought. Whichever path you choose largely depends on your goals. For me personally, I just want freedom. The founder of Dollar Shave Club might have less freedom than the guy with the SaaS business because he may have to oversee employees, the factories, distributors, etc.

EDIT: Just so you know, my product has been around for 100 years lol...nothing is new these days.

When you learn to write copy, you can convince world leaders to follow your instructions. You can convince the most beautiful women that you are Brad Pitt. You can convince your mother that the sky is purple.

You will have more power than Justin Timberlake...if only you learned copy.

 

[jpa0827]

That sounds like a very Jack thing to say. That was actually the very first thing he said to me on our very first phone conversation.




When you take your business to its first $100k you will realize how insignificant the idea really is. Seriously. It's all in how you craft the message. Is it compelling? Is it convincing? Does it have that WOW WHAT THE F*CK factor?

There are 2 schools of thought:
1. Extract a very niche idea and grow slowly over time. Kinda like growing a weed from a small seed.

2. Take a product that already sells a lot then add your own twist to it sorta like Dollar Shave Club.

You can create a compelling and convincing offer with both schools of thought. Whichever path you choose largely depends on your goals. For me personally, I just want freedom. The founder of Dollar Shave Club might have less freedom than the guy with the SaaS business because he may have to oversee employees, the factories, distributors, etc.

EDIT: Just so you know, my product has been around for 100 years lol...nothing is new these days.

When you learn to write copy, you can convince world leaders to follow your instructions. You can convince the most beautiful women that you are Brad Pitt. You can convince your mother that the sky is purple.

You will have more power than Justin Timberlake...if only you learned copy.

Gee @IceCreamKid I think I should learn copy

Thanks for the well thought out response. I like how you distinguished the 2 schools of thought. I can see very clearly what you mean.

 

[IceCreamKid]

Gee @IceCreamKid I think I should learn copy

You should learn copy, but I wouldn't recommend doing the 30 Day Challenge while being in the extraction phase because the challenge takes up exorbitant amounts of time. Perhaps stretch it out to a 90 day challenge if you really want to get it done.

Calling people and extracting ideas=Active action
Copying sales letters=Passive action

Focus on active action as much as possible because it's too easy to get stuck in the passive action loop convincing yourself that you're getting closer to the money. Bro, trust me on that...I stayed in passive action for years before finally admitting that I was lying to myself.

The truth will set you free.

 

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[KLaw]

@IceCreamKid . What is your product? Just curious.

 

[AllenCrawley]

@IceCreamKid . What is your product? Just curious.

I can't believe people still ask this question.

 

[KLaw]

I can't believe people still ask this question.

Why. If it is not about the product but about the process. Y would one b afraid to present their. Product.

 

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[AllenCrawley]

Why. If it is not about the product but about the process. Y would one b afraid to present their. Product.

I almost didn't dig this up as you should have read it by now but here it is from @MJ DeMarco himself:

Why all the secrecy? Here's Why...

 

[biophase]

Why. If it is not about the product but about the process. Y would one b afraid to present their. Product.

Just wait until you have a business.

 

[KLaw]

I almost didn't dig this up as you should have read it by now but here it is from @MJ DeMarco himself:

Why all the secrecy? Here's Why...

Understand but...if u got the goods, who cares. Its about execution - right? I read on here all the time about the idea doesn't matter. Its about execution. So what's the big deal about posting the actual product?

 

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[biophase]

Understand but...if u got the goods, who cares. Its about execution - right? I read on here all the time about the idea doesn't matter. Its about execution. So what's the big deal about posting the actual product?

Because people will research, and they will copy, then they will F*ck up their own shit... which will in turn F*ck up your business model in many small ways which will cause you to ultimately lose some money.

 

[AllenCrawley]

Understand but...if u got the goods, who cares. Its about execution - right? I read on here all the time about the idea doesn't matter. Its about execution. So what's the big deal about posting the actual product?

Did you even read the post I linked to? Cause the answer is there...

"The result is new competitors that enter the space, most of which, cannot execute on the idea.

So what's the problem with that? Competition is good, right?

While these competitors aren't a threat in the long term, they threaten the short term in the form of:

1. Increased PPC / ad costs (they flood the same ad space you're in, driving costs up.)
2. Increased customer service (Hey, did you see xxxxyyyy.com? Is that you guys?)
3. Business model damage (After they poorly execute the same business model you're doing, it can impact your business model -- "Eh, we tried that shit, it don't work.")"

 

[KLaw]

Just wait until you have a business.

Good point

 

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[KLaw]

I guess I don't understand. I will keep working on it though. F*ck the competition. We will crush them. Y would one be scaired to actually show their product. Copy cats can't compete.

 

[biophase]

I guess I don't understand. I will keep working on it though. F*ck the competition. We will crush them. Y would one be scaired to actually show their product. Copy cats can't compete.

Ok let's say you sold Iphones online. You tell your friend, so he wants to sell Iphones. What's he going to do? He's going to make a website and find your supplier. Then what? He's going to PPC Iphones or SEO Iphones or blog about Iphones. So now your PPC is more expensive, your SEO keywords are harder. He could piss off your supplier or even offer to pay more for them. He could buy up inventory causing you to be out of stock. He's probably going to sell Iphones for a markup of $5 instead $150, because he's 15 and lives at home and $5 is alot of money to him. Now all Iphones go from $300 to $155 because you have an idiot blowing money on clicks at $1 each, making a bunch of 1 page stupid websites to clog up Google and selling a product at 50% of its MSRP. In a few months he may give up, but how does that NOT affect your business?

 

[throttleforward]

I guess I don't understand. I will keep working on it though. F*ck the competition. We will crush them. Y would one be scaired to actually show their product. Copy cats can't compete.

(In addition to what was said above) because sometimes the product isn't proprietary, but the process is.

I sell a certain product on Amazon. If I laid out on this forum how I sell that product, you would learn a lot about selling on Amazon in general terms, but you wouldn't be a competitor.

If I then told you what I sold, you could combine that with the stuff I laid out on this forum, and directly compete with me, taking money from my pocket. In fact, you probably would do exactly that...after all, we are all here to figure out how to make money.

Sometimes it's not the product that's proprietary, but the process. And the cold reality is that a lot of people here have built businesses by exploiting small loopholes that anyone could exploit given a description of both the process and product. So we only give one, in the interest of sharing most of what we know, without torpedoing our business.

For others here, they invent/create products or content that is proprietary, so they have no problem showing pictures/videos/descriptions of their product, because you can't copy it legally even if you wanted to. That's why (in my opinion) some progress threads are very general, while others specifically lay out their product, process, etc.

 

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[throttleforward]

Also something I've learned about selling other people's products online is that more sellers doesn't always equal better for them. Most manufacturers aren't stupid - they know that unless you have an amazing ecommerce presence with top SERP rankings, you're selling on Amazon or ebay. The more people they let do that, the more hassle it is for them. So, if they get pissed off enough by people copying their existing, long term accounts that have been selling online for 10 years, they might cancel everyone's account except for a few chosen ones. If you aren't one of the few, your business just went to 0. By introducing competitors who might piss off the manufacturer, you are risking shutting down the entire ecosystem.

 

[IceCreamKid]

Hey @KLaw I understand you just want to learn by observing other people's successful businesses. You want an idea? Here you go bro:

1. Make a list of a bunch of industries that you want to contact...food, construction, plumbing, roofing, anything that comes to mind.

2. Contact the TOP 2 players in each industry.

For example, dive into the construction industry and ask the top 2 players, "Hey what machine part breaks down the most often for you? Which part needs replacement the most often?"

3. Find out what that part is then offer to send them a batch of orders FREE. BUT the key is that the part you offer to them MUST be of higher quality than the part that consistently breaks on them. This is where process comes into play. Many will enter, few will win LOL. It's about giving value, my friend. If you can provide a better quality product, you better believe they will want to deal with you...even if that means paying you slightly more.

4. Repeat this process for as many industries as you like. When you deal only with the TOP 2 players in each industry, you will receive massive amounts of orders simply due to the fact that they operate on a massive scale.

5. You can even pull off a JackEdwards style business and hire a bunch of women to contact these big players. Get creative with it.

 

[KLaw]

@throttleforward . That makes sense. Thanks for the perspective.

 

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[KLaw]

Hey @KLaw I understand you just want to learn by observing other people's successful businesses. You want an idea? Here you go bro:

1. Make a list of a bunch of industries that you want to contact...food, construction, plumbing, roofing, anything that comes to mind.

2. Contact the TOP 2 players in each industry.

For example, dive into the construction industry and ask the top 2 players, "Hey what machine part breaks down the most often for you? Which part needs replacement the most often?"

3. Find out what that part is then offer to send them a batch of orders FREE. BUT the key is that the part you offer to them MUST be of higher quality than the part that consistently breaks on them. This is where process comes into play. Many will enter, few will win LOL. It's about giving value, my friend. If you can provide a better quality product, you better believe they will want to deal with you...even if that means paying you slightly more.

4. Repeat this process for as many industries as you like. When you deal only with the TOP 2 players in each industry, you will receive massive amounts of orders simply due to the fact that they operate on a massive scale.

5. You can even pull off a JackEdwards style business and hire a bunch of women to contact these big players. Get creative with it.

Wrong. I just want to understand where you are you coming from. You talk about dropping two dollar bills off of the roof top during a mayors speech but I can't find any evidence of that. Why

 

[KLaw]

Wrong. I just want to understand where you are you coming from. You talk about dropping two dollar bills off of the roof top during a mayors speech but I can't find any evidence of that. Why

Legit question. Right?

 

[IceCreamKid]

Wrong. I just want to understand where you are you coming from. You talk about dropping two dollar bills off of the roof top during a mayors speech but I can't find any evidence of that. Why

I think it's a fair question to ask if you saw me selling a $1,997 educational course or a $97 e-book on this forum. If someone is selling something then I want to see tons of factual evidence to back up their claims since I'm putting my money at risk.

I'm a bit amazed that you have no questions regarding that short 5-step action plan that I posted above. I hope someone on this forum uses that plan and turns it into gold.

I'll make a deal with you, become a major contributor here and I'll be more than happy to tell you what I do. A lot of the major contributors here know exactly what I do: my products, marketing strategy, distribution channels, everything.

OP, please forgive me I sincerely apologize for this thread losing its focus to some degree.

 

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[biophase]

Legit question. Right?

Problem is that you can't put that stuff into context because you don't know his business... You should see some of the crazy stuff I get to do in mine. It would just look ridiculous if you didn't know my market.

 

[HarryR]

Hey @KLaw I understand you just want to learn by observing other people's successful businesses. You want an idea? Here you go bro:

1. Make a list of a bunch of industries that you want to contact...food, construction, plumbing, roofing, anything that comes to mind.

2. Contact the TOP 2 players in each industry.

For example, dive into the construction industry and ask the top 2 players, "Hey what machine part breaks down the most often for you? Which part needs replacement the most often?"

3. Find out what that part is then offer to send them a batch of orders FREE. BUT the key is that the part you offer to them MUST be of higher quality than the part that consistently breaks on them. This is where process comes into play. Many will enter, few will win LOL. It's about giving value, my friend. If you can provide a better quality product, you better believe they will want to deal with you...even if that means paying you slightly more.

4. Repeat this process for as many industries as you like. When you deal only with the TOP 2 players in each industry, you will receive massive amounts of orders simply due to the fact that they operate on a massive scale.

5. You can even pull off a JackEdwards style business and hire a bunch of women to contact these big players. Get creative with it.

Thank you yet again. I need to start writing industry specific need questions.

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