Success is how you define it.
Finding the right idea to bring you that success takes a willingness to be patient, good timing, and a lot of research.
And there’s nothing wrong with taking your time, being careful trying to figure out which small business ideas are best.
If you rush this process, you’re bound to come up with a business that doesn’t excite you at all.
You’ll be bored.
You won’t reach goals and it will become more like a job … maybe even harder!
You’ll feel like you would working for someone else. (You don’t want that again, do you?)
First, Figure Out What You Really Want
Starting off, you really have to force yourself to relax. I know what it’s like being very, very unhappy at a job. And I can tell you from first-hand experience that walking away from a well-paying job and jumping into your own business is stressful.
But if you carefully plan your “escape,” it will make it that much better!
Set Your Short-Term Goals
Maybe you want to make a ton of money and drive around in a BMW.
Here’s the thing about pricing… it really doesn’t matter what the price of a product or service is. The only thing that matters is your belief in the price and your ability to transfer that belief to a customer.
I’ve seen two identical bottles of water selling anywhere from $0.99 to $4.99. It all depends on where you buy it. And there doesn’t seem to be a shortage of buyers at either price.
I’ve seen coaching programs priced from $50 an hour to $100,000 for a year.
It all comes down to how valuable the person who set the price sees their product or service.
Let’s look at the water. Some things to consider are:
- Availability: How easy it is to get and if there are other stores selling the same product nearby.
- Demand: How much demand is there for water. How badly did his potential customers want the water? Do they need to encourage clients to buy it? Would it be a quick add on “no brainer” type of purchase or would customers come into the store just to buy water?
- Quality or uniqueness of product: Was there anything special