May 08, 2024

5 Tips for Entrepreneurs: Answering Reddit's Burning Questions

26 minutes

Ep. 48 In a Reddit-inspired episode, Merchon dives deep into 5 real-life questions posed by entrepreneurs, offering insightful strategies for blending professional expertise with personal passions, overcoming market saturation, and launching subscription services effectively.

She provides insights on leveraging current careers for side hustles, dealing with competition in the digital product space, conducting market research for an online business, and more.

Each answer is packed with tactical tips and seasoned advice, ensuring listeners walk away with practical steps for their entrepreneurial journey. The conversation spans critical areas such as market research for a print-on-demand business, and when and how to gracefully release less-than-ideal customers.

Key Takeaways:

Leverage existing skills and experiences when exploring new entrepreneurial endeavors, but also pay attention to what truly excites you.

Competition can signal market demand; use differentiating factors like pricing to your advantage.

Market research should go beyond online tools; engaging directly with your target audience can yield more personalized and actionable insights.

Subscription-based services should be developed based on direct feedback from potential customers to ensure viability and desirability.

Boundaries and clear expectations with clients are crucial, and sometimes dropping a customer is necessary for the health of your business.

Notable Quotes:

"Your market is out there. If price is a differentiator then, then lean into that."

"The magic does not happen in the comfort zone."

Resources:

Designing Your Life: A book recommended by Merchon Hargrave for listeners interested in exploring different career paths.

Credits: