Episode-1793- How to Determine What Business You Should Start
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Photo Credit to uk.edubirdie.com
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
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Jack, your podcast had certainly been life changing for me! Thanks so much for all you do!
Very informative. Sounds like unhappy ducklings in the background.
Nope turkeys in the brooder, happy but noisy little guys.
Thank You Jack, great refresher! Thank you for your continued support. If people only knew that people pay 10’s of thousands of dollars for this information everyday. These are proven systems that have been and are continually being used by successful people.
If you enjoy reading, you might follow-up this episode of Jack’s with some of Seth Godin’s books. Short, easy to read, highly motivational, and a lot of it is in harmony with what Jack says.
I got to this link starting at tspaz.. so if you buy anything here, hopefully Jack gets the affiliate deal.
http://amzn.to/1TKJtwK
On track to netting ~$2500 this week.
It’s been a challenge, I’ve had to face a lot of my personal shortcomings, still working on them, I’m going to be for a while, and there’s definitely been some bumps, but it’s working itself out well.
I’m pretty proud of it because that’s more than what most people my age make in a month.
Awesome man.
Kudos for having the courage to point out where the real molestation problem comes from, and it’s not transgender people. You missed the boat (as did Alex Shrugged) when it comes to Bill Ayers. He was involved in anti-government bombings fifty years ago, and no one (except some bomb makers) was killed. But you overstate his relationship to Obama. I don’t know why you’re on an anti-Obama kick. He’s governed as what used to be called a moderate Republican (of which there are no more). If he was influenced by Ayers you sure can’t tell it by his Presidency. I certainly don’t agree with everything he’s done, but he’s a cool, smart and sharp politician, who would even more popular than he is if he was white. Hardly an ass-clown. If Trump becomes President you’ll what an ass-clown really is.
Republicans suck, Democrats suck, all of them in office are lying fucking traitors to the constitution, does that explain why I am hard on the current Assclown. How long have you been around here Dan? Did you know how hard I was on Bush when he was in charge?
And we do not over state anything Ayers is a fucking terrorist, he should have spent his life in prison, not teaching people how to teach children and Obama launched his political career in the mans living room.
Let me be clear….
Obama- Broke his oath to the constitution over and over
Bush II – Broke his oath to the constitution over and over
Clinton – Broke his oath to the constitution over and over
Bush I – Broke his oath to the constitution over and over
Regan – Broke his oath to the constitution over and over
Carter- Broke his oath to the constitution over and over
Do you get it yet, “moderate republican”, no sir they are all Neo Fascists and you likely have no idea what fascism is and think it is about killing Jews or something like that.
Fascism is an economic system of control. You live in a neo fascist state. Where the divisions between the classes are seen as advantageous to the state and industry and both are to be “mediators” (in other words agitators) between the classes to simultaneously advance both the goals of the state and of industry.
In classical fascism the state controls the money in cooperation with industry to control the people, in neo fascism the industry uses money to manage their relationship with the government to control the people.
You live in a fascist state dude!
You are also a victim of the false dichotomy, because you assume that if I attack Obama that means I like Trump. This is the brain washing of modern society.
I’d like to challenge you to listen to this old episode with an open mind, http://www.thesurvivalpodcast.com/episode-874-thoughts-from-jack-on-the-great-lie-of-dichotomy
Dan, all Obama has done during 2 terms is blame all of our problems on his predecessor (if that were true, then why did the ass-clown run in the first place?). He has gone overseas and complained about how much America sucks, but has done nothing to actually make this country better these last 8 years. “If I had a son, he would look like Trayvon Martin”. What kind of moronic president would say something like that? How does that help anything? That’s not promoting unity, that’s promoting divisiveness. All he did was rile up black folks so us common folk would be at each other’s throats instead of focusing our anger on the politicians.
You show your true colors when you mentioned “He was involved in anti-government bombings fifty years ago, and no one (except some bomb makers) was killed.”
Well, ok, but that is only because Ayers and his cohorts are complete morons and some of them died while trying to build a bomb they were going to use to kill a shit load of policemen and their spouses. His failure to actually be able to kill innocent people does not make him less of an evil dipshit, deserving of life imprisonment.
http://gawker.com/obama-secretly-partied-with-bill-ayers-last-summer-1684584845