Friday, July 25, 2014

Useful tips on how to create successful business for less than 100$

Based on an article by Tim Ferris: http://fourhourworkweek.com/2012/05/24/six-figure-businesses-built-for-less-than-100-17-lessons-learned/. I just wrote down few interesting moments to sum up the article.

1. Create something, that people don't know how to do (or its hard to understand), but they are interested in this. Provide your product with results (photos, videos, experience etc.)
2. Make things simple. Provide articles with detailed explanations, images, how-to videos.
3. Start quick and start cheap.
4. You always can find money, just be smart. Use kickstarter like websites, try to find the solution. "No" is not always the end answer.
5. Add payment functions to your website. Make them simple.
6. Take a look on something, that people love and hate. This can be a good business model. Make things for those, who love it.
7. Don't work hard, work smart.
8. Try to make things better. You can base on your previous experience and do better experience for your potential customers.
9. Be open to change, test new ideas and new ways.
10. "Make your offer so compelling that buyers have no reason to say no. Give them an offer they can’t refuse."
11. Give people what they really want. Dig deeper into the problem, try to figure out what people really want, not what they say they want.
12. Sell happiness
13. Focus on your actual customers
14. Offer a strong guarantee. Make people trust you, be open.
15. If you have no money on marketing, try to self-promote your product, "hustle" around.
16. Plan your product launch long before actual start. Make people excited, make people want your product like "movie trailers and so on"
17. Learn from mistakes. Learn from your mistakes and other people mistakes too.

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