Refer to Part 1 here.
Next serious of exercises will concern so called "Business Creation"
Your goal will be to determine what you want to do as your main business
and to test if the business you have selected is a viable solution.
You will test if there is demand for it and how much competition you
All this will be done before you actually have your product or service
ready. (If you have product or service already, you can apply the same
techniques to ensure yourself that what you are doing is the right
If you had the chance to read "E-Business Success Blueprint" you know
that product or service creation is not the first item on the list of
tasks in business development process.
This here is the actual sequence.
1. Find a group of people to become your targeted audience.
2. Get to know your targeted audience by asking them what they need.
3. Develop solutions that they need.
4. Develop and implement an effective sales process.
5. Create and administer support and a customer friendly follow up
system that encourages clients to purchase additional products.
Also you should spend about 80% of your time on formulating, testing,
analyzing and promoting your business and only 20% on creation.
The first step in deciding what type of business to own is to figure out
what it is that you really love doing.
By doing this, you’ll be one step closer to discovering the perfect
business venture for you. If you skip this important step, you will be
missing out on a wonderful growth opportunity as it truly influences how
successful you’ll be in your business. Passion is the single most
important thing in helping you get over the hurdles of disappointment.
As a fledging business owner, you will be required to learn new things.
You’ll be forced to enhance and develop certain skills and you will
uncover many obstacles along the way. This will not be easy and as
such, you may even be tempted to give up. But, if you have passion, you
will keep going. You will not slow down and will stay focused in
developing your business and being actively involved in it. In essence,
your passion will get you through the tough times and will encourage
So now without looking what business you are already in and what you did
in recent years, think of what it is really you would like to be doing
even if you were not paid for.
What is the one or two things which would
get you from your bed early in the morning and keep you busy till the
end of the day and at the same time make you feel satisfied, focused and
create sense of purpose.
To help you with this assignment consider that you have only 24 months
to live. Assume that there is nothing you can do to live longer than 24
months. The only things you can do is to use this 24 months to the
maximum of its potential. Assume also that you have no money to travel
to distant countries and you need to make a living to support yourself
and your family. Determine 2 or three things you would be doing even if you were not paid
I hope this will be fun.
Go to part 3
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