Starting a business is EASY.
I’m not being facetious.
You could get a profitable business up and running this week…
But you think it’s HARD. So, you let those voices in your head stop you from living the life you want and making the income you deserve.
I get it. I was there once too, but I kicked those freeloading voices out once and for all.
And that’s when I started making real money. Money that does buy happiness (or at least gave me the means to find happiness).
Are you ready to get that dream income of yours?
There’s no time to waste…
There are 3 legal ways to make money. If you follow me closely and have been to any of my seminars, you’ll know which 3 I’m talking about.
Right now, we’re going to focus on business.
If you can answer the following 3 business-related questions, you’ll be well on your way to making that income of your dreams… and you can start making it THIS WEEK!
Question 1: What Should I sell?
Question 2: How Should I sell it?
Question 3: What Price Should I sell it for?
Let’s break those questions down and get you on your way…
Question 1: What Should I sell?
I was talking to a student the other day who said he so desperately wants to start a business.
He knows the tools he can use (answered in the next section), he has a little bit of capital to get started, but he’s stuck on one thing… he doesn’t know what he should sell.
I laughed and I think it initially offended him.
“That’s the easiest part!” I told him.
I asked him what he loves. What his hobbies are when he’s not working.
To protect his niche, I won’t reveal his answer. But that question set him on his way to setting up his business.
So, I ask you the same thing…
What do you love? What are your hobbies?
Answering those questions will answer the main question at hand.
You should sell what you love – what you know.
Doing so will make your business NOT feel like work.
Since you’ll be selling something you love learning about, you’ll be able to push through the hurdles of business ownership much easier.
Once you have that answered, we can move onto the next question.
Question 2: How Should I sell it?
Well, there are many ways to sell whatever it is you’re selling.
Is it a service? Is it a product? Is it an idea?
There are so many tools on the internet that you can use to market yourself.
If it’s a service, take a look at websites like Fiverr.com and Upwork.com to get started.
If it’s a product, you can sell on ecommerce websites like Shopify and WooCommerce (there are plenty of simple tutorials to get started once you’ve found the right one!).
If it’s an idea, like a design for example, check out RedBubble and Society6 where you can list your designs for people to buy.
My point is, the answers to “How Should I sell it?” are endless, but the most important way to answer that question is to pick 1 and grow that avenue before moving onto other platforms.
Question 3: What Price Should I sell it for?
This is my favorite part.
Probably because it’s the question that stumps entrepreneurs the most, but it has the simplest answer.
The real answer is What the market is willing to pay.
When answering this question, I always refer to nuts at a hotel mini bar.
You know those snacks in the hotel rooms? Yes, the overpriced ones.
Like me, you’ve probably wondered why they’re so overpriced when you can go to the store and get them for much less.
But the reality is, they are priced a penny less than they’re worth to the traveler in that moment.
If there are no other options and you’re feeling hungry, you’re going to pay that price. Or at least somebody will. That’s why they’re priced that way.
So, the only true way to figure out how much you should sell your product for, is to test it out.
Launch it at what you think is a fair price. Take notes of sales, then run another promotion to a different group of people at a different price.
Go up and down.
You may find you’re better off selling 100 units at $10 than 50 units at $15, thus choosing how much YOU profit.
Whatever the price is, the market will tell you!
And that wraps up the 3 questions that allow you to choose how much YOU profit!
Take them for a spin and let us know how you are answering these questions!
