Are you looking for clarity on what business to start in times like today or maybe you’ve got so many ideas and you’re confused which idea to take? Well in the next five minutes I’m going to share with you Three Secrets that will solve the problem you’re currently facing.
You see, last year, when I started my business, I was in a job. I quit my job and started my business. I’ve got multiple businesses now. So because of what I’ve been through, I can feel what you’re going through as well. I found a way and that’s the three secrets that I’m going to share with you in this blog today.
Clarity Comes From Action:
Before I share that secret you must be looking for clarity. Right? You’re like, “Let me just work all this out, I’ll figure out exactly what I want to do then I’ll start a business.” Well don’t! Understand this! ‘Clarity comes from action’. If you don’t take action, you’ll never be clear what you should be doing in the future.
Let me give you an example on why I believe this! When you started a job, you took the job, you knew what job you wanted but when you went on with the job, so many things were not clear. What’s the procedure? What’s the policy? What do they want to do exactly day by day in the job? You were not clear but you figured that out while you were on the job. Right?
After a month or two you were really clear and by six months you were flying high and by one year you were doing great! You see you wouldn’t have reached that position of ‘great’ if you didn’t start taking ‘action’ the first day by going to the job and learning and understanding what it is and that’s why i say ‘Clarity comes from action’.
Hence, I’m going to share with you these three things that you need to take action on, without which you’re not going to get clarity.
So if you’re starting a business:
1.What problem are you solving in the marketplace?
Consider this. You see people don’t care about your passion, your dreams or what you want. They don’t care about the market. The market cares about the problem that they are having, so if you can find a problem out there that is really big that you can solve, then you’ve got a good business.
Now it’s not just the problem. You have to be passionate about solving that problem. Most people say ‘create a business out of your passion’ but like i said: ‘Market does not care what your passion is.
You want to be passionate? You be passionate about the problem that you are solving for the market because when times are tough, the people that are not passionate about solving the problem, they move on to something else and then when the market says “Ah I’ve got a problem, who’s going to solve it for me?” you will not be there then.
So I would encourage you; when you’re starting a business, find that one problem that you are passionate about that you want to solve for your market and you’ll do well!
2.Who are you solving this problem for?
Are you solving the problem for one person or are you solving it for like tens of thousands of people? Now, why is this important? You see, the bigger the problem; the more business you’ll have; the longer it will last.
The smaller the problem; maybe you want to change it… maybe you’re getting bored of this problem. Now that will happen! So find out who you are solving this market for? What is your niche? What is the industry? Be very specific.
You see, the problem is that a lot of people serve everyone. Now if you try to serve everyone you’ll eventually serve no one, so pick your market, pick your niche, pick the industry and go real deep because in a world like today the smaller your target the bigger your business!
By niching down you actually get more profit. Think about this as a doctor. Who earns more? A General Practitioner or a Specialist? Of Course a specialist!! Right? So ask yourself this question. Do you want to serve everybody in the market and be a generalist or do you want to serve one market and be a specialist?
Do you know what’s the advantage of being a Specialist? You can claim higher prices because you become the go-to person! So you want to find who you are serving.
3.What Is The Demand In The Market For That Problem?
You might be really passionate about what you’re solving, you know your market but the third question is KEY and the third question is “What is the demand in the market for that problem?” That’s very important because you see it’s all laws of economics: Demand and Supply.
If the demand is amazing and there’s nobody in the market that’s solving that problem then you’ll be in big demand but if there’s no demand at all but you’re really passionate about solving someone’s problem, Who’s going to buy your product? Who’s going to buy your services? Who’s going to engage you?
So, it’s really important where you look at the demand and if you see that the demand is high and supply is high as well, you explore it deeper and see if there is an area in that market that you can niche down on. Find a problem that is unique to you, that you are passionate about.
So do these three things but make sure you take action because like i said if you don’t take action you’re not going to know what it is and it could be many problems you’re passionate about! It could be many markets you’re really wanting to serve. There could be a demand in all the markets so which one will you choose?
Choose just one and stick with it for a few months and see how that lands with you. How that connects with your purpose! How does that connect with your passion! If it doesn’t, then you move to the second problem and then you do the same but give it time.
If you keep moving from one problem to another and so on, you’ll keep moving and you won’t have a stable business! So I would encourage you to stick to one for an extended period of time, at least one year, only then you’ll know if that’s really a business you want to be in!
CONCLUSION
So the three things you need to do are: Number One: ‘What is the problem you’re solving?’ Number Two: ‘Who are you solving this problem for? and Number Three: ‘What’s the demand of this problem in the market?’ and if you do these three very accurately, you take action then you will have the clarity and you’re going to have a great business. You see your success will go through the roof!
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About the author
Dev Sethi is the Founder & CEO of ‘Wealth On Command’. Dev is a Global Sales Award Winner and “Closer of the Year 2019” in High Ticket Sales across 150 countries. He is the 1st person across Australia, Asia, Africa, Europe and South America to ever win this award.
He empowers business owners and entrepreneurs to monetize their skills and maximize their sales by assisting them in building a high performance sales team. In the last 12 months alone his business has grown by over 560% and his clients have made over USD 5.2 Million in Sales. Dev is a Sales Champion and is now creating more Champions.
He speaks 4 languages fluently and is a loving father and a caring husband; born in Thailand, grew up in India and now living in Sydney, Australia.
