Tweet
Today we continue with the shows that won the May voting for just Jack Tuesday shows. As a reminder voting is still open for another week for Junes shows, you can cast your vote on that here.
Today though we dive into one of my favorite topics, entrepreneurship. Namely determining what business to start, or more to the point what type of business to start.
There are a seemingly endless array of businesses out there but actually we can break them down into just a few true types.
First the most obvious break is
Products
Services
Once we do that then we can split those into the following
Products
Physical Products
Non Physical/Electronic Products
Services
Functional Services – accounting, mechanics, design work, etc
Educational Services
Entertainment Services
There are some gray areas, if you sell and entertaining video that educates people and also is downloaded as a non phyical product, what is that? It is a combination of a educational and entertaining service and a non phyical product. The key is that will dictate how you do the following…
Market it
Sell it
Deliver it
Support it
Up sell it
Develop the next product for your customer base
It will also have a huge impact on where you will have to spend most of your time. In this case once the product is developed it will all be about the sales, marketing and follow up.
If you were in a product based business and you physically make the product say soap, you have to then add manufacturing, packaging, inventory management to the list.
Next up, we need to look at the driving reasons people buy products, there are only two…
They need the product
They want the product
Finally we look at the driving motivation for buying wanted vs. needed products, there are only three…
Because they are Entertaining
Because they are Profitable
Because they are Life Changing
When you develop a product that does all three we call it the golden trifecta of marketing.
We can then ask the three most important questions about our perspective customers, these are…
Who are they
What do they want
How do they want it (packaged/delivered/etc)
It is in all of this that you determine what the right business/product/service is right for you and your life style.
We marry the above with the following questions for ourselves…
What are you good at
What do you love
What do you hate
What amount of money can you invest
What amount of time can you invest
What are your biggest weaknesses
This leads us to determine some things about how to proceed such as…
What do I need to learn and how can I learn it
A small “starter business”
Taking a job more what it teaches then pays
Self study
All the above
Today we examine all of this and begin the path of entrepreneurship, a path not everyone will take but the path that creates more freedom than any other path in our modern world.
Resources for today’s show…
Join the Members Brigade
The Year 1793
Join Our Forum
Walking To Freedom
TSP Gear
PermaEthos.com
TspAz.com – support TSP when you shop on Amazon
Part Time vs. Transnational Businesses from FMWJ
Special Price on the TSP Genesis II Knife
Love Like Crazy – Lee Brice
Sponsors of the Day
Fortress Defense Consultants
TSP Business Directory
Audio Imagery Design
Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK (866-658-4465) and you might hear yourself on the air.
Join the MSB Today
Want Every Episode of TSP Ever Produced?
Remember in addition to discounts to over 40 vendors who supply stuff you are likely buying anyway, tons of free ebooks and video content, MSB Members also get every edition of The Survival Podcast ever produced in convenient zip files in blocks of 24. More info on the MSB c[...]