quick business notes

Just a quick jot down of some thoughts I was just discussing with a co-worker:

1. don’t create a website or furnish an office (or even worry about a name, logo, letterhead etc.) until you know what you want to sell.

2. don’t choose something to sell unless you know what your target market wants and how they get it. (you have to be bigger than tv networks to create a demand for something that no one knows they want.)

3. Once you decide upon a product/service/information etc. that you know is in demand, figure out:

who your target buyer is (age,gender,situation,income,etc.)

why do they buy

where do they look to buy (including what words they use in search engines to find and buy it.)

how do they buy (cash, paypal, credit card, payments, etc.)

how you can get in front of them. (amazon kindle categories, counter tops of gas stations, ads on websites they frequent, billboards, advert insert of utilities bills, radio add, newspaper classifieds, online classifieds, joint venture with someone who sales to the same people or has a complimentary product. etc.

Don’t be stuck on “website” or “e-commerce” or any of that. the internet is just a tool, and often your most effective way to sale is on ebay or amazon or even local craft fairs and yard sales.

4. create and sell your product quickly so if you fail you fail as quick as possible and move on – don’t waste time setting up your office until you have something that you know sells.

5. Don’t quit – This doesn’t mean don’t abandon a sinking ship, rather it means fail quickly and often and learn from your mistakes.

Now I just need to go apply the above myself 😀

If you think I am wrong about anything (or missing something important) please let me know in the comments below.

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