Sartre
Ignored a dispute resolution thread against them.
- Apr 1, 2010
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This is a structure I use when brainstorming new business concepts.
The fundamentals
These are my major criteria which I analyze when it comes to any idea:
Always start with the issue at hand and work toward a solution only after that. That's exactly what you should be doing: ignoring your product is the best strategy.
Why? The reason for this is because it is adaptable. You have the ability to create anything. There are, however, restrictions in this world. One must choose from a small pool of feasible issues to pursue using various methods and models. Defyning constraints is always a good place to begin. Everyone has constraints. It can be money, time, gender, a language barrier, or a lack of skills.
It's important to know where your limits are.
Identifying your target customer
You need customers with a problem. Niche down. This quantity doesn't need to be too large for small time hustlers like us. A few hundred plenty. Even 10 solid paying clients mights be all you need to make a living.
Because, if your business is solid, they'll be your clients for years. Ideally, you'll be able to sympathize with their situation since you've been there yourself. I enjoy talking to my clients. I've made several friends while doing business. It's OK.
Identifying a major pain point
It's time to look for an issue now that you have this information. Brainstorming will be necessary. Some suggest that you just wait for inspiration to strike while you do nothing. I don't believe so. The process might take years. Take action.
It's difficult to pinpoint the greatest spot to begin generating ideas since there are so many. Many excellent opportunities might be found, and they can be triggered by almost anything.
I like just... asking around. Going on BHW, on different forums and chatting up my friends, and other people and seeing what they need automated.
When it comes to solving an issue, don't spend your time on an issue that doesn't meet your initial criteria. Keep coming up with more ideas and write them down.
Problems that are obvious, but with creative solutions
The last step is to consider a solution. What plan do you have to assist your clients in resolving their issue?
Take a step back and look at what your competition is doing. Yes, it's OK to choose a solution that is simple and well-established. It's not that hard to differentiate yourself.
For example, people wanted to buy pre-built websites, so I figured out I will get very old domains and add them as a selling point.
In fact, you want to approach the issue in the polar opposite manner to that of your rivals. This is where you can be exceptional.
This is where you'll be able to come up with new ideas. Don't be afraid to let your individuality shine through. Many little things may have an impact.
Be the only person in the world that is doing it this way.
Adding it all up
You'll need to get busy, talk to people, and maybe even release a half-finished product and give it away for free in order to really validate your concept before going all in. However, it really is possible to sell and there is a lot of people out there who have money out there and want to invest in what you're selling. If you choose your product wisely.
If I could give you one advice, it would be:
Don't be afraid of niches with high competition.
3 years ago me and my partner started a white hat blog in one of the most competitive niches out there and, it looks like, in January 2023, we will be looking at a high-6-figure to low-7-figure exit.
The fundamentals
These are my major criteria which I analyze when it comes to any idea:
- the issue you're attempting to resolve and the individuals affected by it
- methods of reaching potential clients via various channels
- the answer to the problem
- your monetization method
- your competition
Always start with the issue at hand and work toward a solution only after that. That's exactly what you should be doing: ignoring your product is the best strategy.
Why? The reason for this is because it is adaptable. You have the ability to create anything. There are, however, restrictions in this world. One must choose from a small pool of feasible issues to pursue using various methods and models. Defyning constraints is always a good place to begin. Everyone has constraints. It can be money, time, gender, a language barrier, or a lack of skills.
It's important to know where your limits are.
Identifying your target customer
You need customers with a problem. Niche down. This quantity doesn't need to be too large for small time hustlers like us. A few hundred plenty. Even 10 solid paying clients mights be all you need to make a living.
Because, if your business is solid, they'll be your clients for years. Ideally, you'll be able to sympathize with their situation since you've been there yourself. I enjoy talking to my clients. I've made several friends while doing business. It's OK.
Identifying a major pain point
It's time to look for an issue now that you have this information. Brainstorming will be necessary. Some suggest that you just wait for inspiration to strike while you do nothing. I don't believe so. The process might take years. Take action.
It's difficult to pinpoint the greatest spot to begin generating ideas since there are so many. Many excellent opportunities might be found, and they can be triggered by almost anything.
I like just... asking around. Going on BHW, on different forums and chatting up my friends, and other people and seeing what they need automated.
When it comes to solving an issue, don't spend your time on an issue that doesn't meet your initial criteria. Keep coming up with more ideas and write them down.
Problems that are obvious, but with creative solutions
The last step is to consider a solution. What plan do you have to assist your clients in resolving their issue?
Take a step back and look at what your competition is doing. Yes, it's OK to choose a solution that is simple and well-established. It's not that hard to differentiate yourself.
For example, people wanted to buy pre-built websites, so I figured out I will get very old domains and add them as a selling point.
In fact, you want to approach the issue in the polar opposite manner to that of your rivals. This is where you can be exceptional.
This is where you'll be able to come up with new ideas. Don't be afraid to let your individuality shine through. Many little things may have an impact.
Be the only person in the world that is doing it this way.
Adding it all up
You'll need to get busy, talk to people, and maybe even release a half-finished product and give it away for free in order to really validate your concept before going all in. However, it really is possible to sell and there is a lot of people out there who have money out there and want to invest in what you're selling. If you choose your product wisely.
If I could give you one advice, it would be:
Don't be afraid of niches with high competition.
3 years ago me and my partner started a white hat blog in one of the most competitive niches out there and, it looks like, in January 2023, we will be looking at a high-6-figure to low-7-figure exit.
