The Worst Mindset for Starting a Business
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Summary
- I believe you shouldn't start a business just to sell it. That's not a good reason.
- It's important to create a business based on what people need, not for the potential of selling it.
- From my experience, those who aim to build a business with the intent to sell often fail.
- I advise anyone thinking about starting a business to question why they want it to be sellable in the first place.
Video
How To Take Action
I would suggest focusing on what people need when starting a business. It's not just about making something to sell later. This is how you can really succeed. To make sure you're on the right track, ask yourself why you want to start your business. Is it to meet a need or just to make something sellable? Here's a simple plan to help you build a business based on real needs:
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Understand Your Customers: Talk to potential customers to find out what problems they have that you could solve. Keep it low-cost by using surveys or chatting with people online or in person.
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Solve a Problem: Think about how your business can fix the issues your customers have. This is how you'll make something they really need.
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Test Your Idea: Before spending lots of money, try out your idea on a small scale. See if people are interested and willing to pay for what you offer.
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Reflect on Your Goals: Take some time to think about why you want to start this business. Make sure it's for a good reason, like helping people, not just to sell the business later.
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Build with Purpose: Every decision you make for your business should help your customers and make your business stronger. Avoid shortcuts that might make it look good for selling but don't really help your customers.
By keeping these steps in mind, you can create a business that's valuable to others and successful for the long term. Remember, it's about filling a need, not just creating something to sell.
Quotes
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