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A while back I got a load of great advice here on this forum about selecting the right industry and starting my own business by discovering the needs of business owners in my local area.
I was told that when I do find a problem, to not do any R&D, and not much innovating, but rather sell and repurpose something that already exists.
But when they say repurposing a product, does that mean to take something existing, and recreate my own version of it, or do I resell it just as it is, under the brand that I sourced it from? The main idea is to sell it to a new/under-served market.
And the most important thing is to get traction as quickly as possible, leaving my own innovation and experimenting until later. In the beginning would I be operating as a consultant/sales person, simply connecting people with the right products and services? If so, I wonder why would they bother to buy through me if they could get it themselves?
I’m just trying to map out the right strategy, because after all, I do like the idea of starting out in business by doing nothing more than connecting people with the right solutions, services, even ideas, and from there, develop my own products and services naturally, as and if ever needed.
And the last thing is, I need to find mid-sized businesses that earn less than 1 million, and sell products within the 1000 dollar price bracket. Basically businesses who can afford to pay for solutions, and would be reachable I think. I tried Googling this stuff for my local area, but I can't find anything. How would I go about finding this out, would it be all through word of mouth, I mean, should I start by just joining entrepreneur groups and networking events?
Thanks
I was told that when I do find a problem, to not do any R&D, and not much innovating, but rather sell and repurpose something that already exists.
But when they say repurposing a product, does that mean to take something existing, and recreate my own version of it, or do I resell it just as it is, under the brand that I sourced it from? The main idea is to sell it to a new/under-served market.
And the most important thing is to get traction as quickly as possible, leaving my own innovation and experimenting until later. In the beginning would I be operating as a consultant/sales person, simply connecting people with the right products and services? If so, I wonder why would they bother to buy through me if they could get it themselves?
I’m just trying to map out the right strategy, because after all, I do like the idea of starting out in business by doing nothing more than connecting people with the right solutions, services, even ideas, and from there, develop my own products and services naturally, as and if ever needed.
And the last thing is, I need to find mid-sized businesses that earn less than 1 million, and sell products within the 1000 dollar price bracket. Basically businesses who can afford to pay for solutions, and would be reachable I think. I tried Googling this stuff for my local area, but I can't find anything. How would I go about finding this out, would it be all through word of mouth, I mean, should I start by just joining entrepreneur groups and networking events?
Thanks
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