No money ? Start $1 million Business in Only 48 Hours | SeeKen Finance book summary

Summary

In this inspiring video, the host explores the possibility of starting a million-dollar business in a weekend, debunking the notion as a myth while sharing valuable insights from Noah Kagan, a successful entrepreneur. The story follows Siddharth, a middle-class dreamer, who learns practical steps to business success from a millionaire businessman. Key lessons include embracing rejection, finding profitable ideas, and the importance of a customer-first approach. The video concludes with a '48 Hours Honey Challenge' for viewers to test their business ideas, promising a follow-up on growth strategies and offering a free PDF for further learning.

Takeaways

• 🚀 **Starting a Business Quickly**: The video challenges the idea that starting a business requires a long time, suggesting it can be done within a weekend.
• 📚 **Learning from Multi-Millionaires**: It emphasizes the value of learning from successful entrepreneurs like Noah Kagan, who started multiple businesses.
• 💭 **Overcoming Optimism and Delusion**: The script discusses the importance of being realistically optimistic and not just blindly hopeful when starting a business.
• 🔥 **The Power of a Compelling Story**: The story of Siddharth illustrates how a powerful narrative can resonate and motivate individuals to pursue their dreams.
• 🤝 **Networking and Seizing Opportunities**: Siddharth's encounter with a successful businessman at a college event highlights the importance of networking and seizing opportunities.
• 💡 **Identifying and Solving Real Problems**: The video stresses the need to identify real problems that customers face and solve them as a foundation for a successful business.
• 📈 **Market Research and Idea Validation**: It outlines the importance of market research and validating business ideas to ensure they have the potential to succeed.
• 💼 **Utilizing Business Tools**: The script introduces Odoo as a business management tool that can simplify various tasks for entrepreneurs.
• 💰 **Monetizing Ideas**: The '48 Hours Honey Challenge' is introduced as a method to test the market's willingness to pay for a product or service.
• 📈 **Iterative Feedback and Improvement**: The video encourages gathering feedback and making iterative improvements to business ideas based on customer input.

Q & A

What is the main theme of the video?

The main theme of the video is about starting a business and the strategies behind it, as told through the story of a young man named Siddharth who learns from a successful businessman.

Who is Noah Kagan in the context of the video?

Noah Kagan is mentioned as an author who has started multiple multi-million dollar businesses and whose strategies are discussed in the video.

What is the significance of the 48-hour timeframe mentioned in the video?

The 48-hour timeframe is significant because it refers to the challenge of starting a business in a very short period, specifically within one weekend.

What is the 'dollar challenge' mentioned in the video?

The 'dollar challenge' is a strategy to overcome the fear of starting a business by asking others to invest a small amount, like 100 rupees, in your business idea.

What is the 'coffee challenge' and how does it help in business?

The 'coffee challenge' is a practice of asking for a discount at places like coffee shops to build the habit of asking and embracing rejection, which is beneficial in business.

How does the video suggest one should approach starting a business?

The video suggests starting a business by adopting a customer-first approach, where one should test the market with a minimum viable product before investing heavily in infrastructure.

What is the '48 hours Honey Challenge' and what is its purpose?

The '48 hours Honey Challenge' is a task where one must find at least three people willing to pay for a product within 48 hours, even if the product is not built yet. Its purpose is to validate the business idea and gauge market interest.

What is the role of the businessman, referred to as Mr. B, in the video?

Mr. B is a mentor figure who shares his business wisdom and strategies with Siddharth, guiding him through the process of starting and validating a business idea.

What is the significance of the Rolls Royce in the video?

The Rolls Royce symbolizes success and wealth, and it serves as a backdrop for the conversation between Siddharth and the businessman, highlighting the potential rewards of entrepreneurship.

How does the video address the fear of rejection in starting a business?

The video addresses the fear of rejection by encouraging viewers to embrace rejection as a learning opportunity and a necessary step towards success in business.

What is the role of Odoo in the video?

Odoo is presented as an all-in-one business management software that can help entrepreneurs with various tasks such as document signing, website creation, and inventory management, making it a useful tool for starting and managing a business.

Outlines

00:00

🚀 Introduction to the Million-Dollar Business Strategy

The video script begins with a rhetorical question about the feasibility of starting a million-dollar business in a weekend, which is affirmed as possible. The speaker introduces Noah Kagan, who has successfully launched multiple multi-million dollar businesses. The script then shifts to a narrative about Siddharth, a middle-class individual with big dreams, who is seeking guidance on starting his own business. Despite watching numerous business videos and learning from shows like Shark Tank, Siddharth has not yet been able to start his venture. His turning point comes when he attends a business event at his college where he hears a motivational speech from a millionaire businessman. After the event, Siddharth musters the courage to approach the businessman for advice, leading to a conversation that could potentially change his life.

05:02

📚 The Power of Business Books and Online Tools

In this segment, the businessman shares his journey and the pivotal role a book played in clarifying his doubts about business. He emphasizes the importance of learning from successful entrepreneurs and their strategies. The conversation then transitions to the utility of technology in business, specifically the use of online document signing and management platforms. The businessman introduces Odoo, an all-in-one business management software, and explains its benefits, including the first app being free for lifetime use. He demonstrates the Odoo signature application, highlighting its features for document management, digital signatures, and secure data exchange. The script also touches on the importance of embracing challenges and learning from rejections as part of the entrepreneurial journey.

10:02

💡 Overcoming Fear and Starting with the Customer in Mind

The narrative continues with the businessman, referred to as Mr. B, advising Siddharth on how to overcome the fear of starting a business and the fear of asking for investments. Mr. B introduces the 'dollar challenge' and the 'coffee challenge' as methods to face and embrace rejection. He then contrasts the 'founder's approach' with the 'customer's approach' to business, advocating for the latter. Mr. B explains that instead of perfecting a product in isolation, entrepreneurs should focus on understanding and solving customer problems first. He shares a personal anecdote about his failed 'founder's approach' with a fantasy sports betting app, which was later transformed into a successful payment processing service by adopting a customer-centric strategy.

15:04

🔍 Finding Profitable Ideas and Validating Them

In this part of the script, Mr. B guides Siddharth on how to find profitable business ideas. He suggests four methods: solving one's own problems, complementing a bestseller, scouring marketplaces for best-selling products, and researching popular Google searches. Mr. B emphasizes the importance of market research to validate the potential of an idea, including assessing market size, growth, competition, and using tools like Google Trends. He introduces the '48-hour Honey Challenge,' which involves finding at least three people willing to pay for a product that does not yet exist, as a way to test the market's interest and gather valuable feedback.

20:04

🌟 Conclusion and Call to Action

The video concludes with Mr. B and Siddharth reaching their destination, and Mr. B briefly mentioning the third part of the business strategy, 'Grow It,' which he says Siddharth does not need to know yet. Mr. B hands Siddharth his card, promising to stay connected and provide further guidance. Siddharth expresses his gratitude and determination to start a business. The speaker then invites viewers to take on a challenge to apply the strategies discussed in the video and shares a free PDF with additional insights on growing a business. The speaker also promotes the Seeken Book Summary club and encourages viewers to engage with the content, apply the lessons, and share their experiences.

Keywords

💡Clickbait

Clickbait refers to sensationalized or misleading headlines used to attract users to click on a link, often leading to content that does not fully deliver on the promise of the headline. In the video, the speaker initially poses a question that could be interpreted as clickbait, suggesting that one could start a million-dollar business in a weekend, but then clarifies that this is not mere clickbait and there is a genuine strategy behind it.

💡Optimism

Optimism in the context of the video is about having a positive outlook and expecting the best outcome. The video distinguishes between 'blind optimism' and being optimistic based on informed strategies. It suggests that viewers should learn to be optimistic in a way that is grounded in practical steps and strategies for business success.

💡Multi-million dollar businesses

This term refers to businesses that are worth several million dollars. The video mentions Noah Kagan, who has started eight such businesses, using this as a backdrop to discuss strategies for starting successful ventures. It serves as a benchmark for the level of success the video aims to instruct viewers on achieving.

💡Business event

A business event in the video is a gathering or conference where business-related topics are discussed. In the narrative, Siddharth attends a business event at his college where a millionaire businessman is the chief guest. This event serves as a catalyst for Siddharth's motivation and learning, highlighting the importance of networking and learning opportunities in business growth.

💡Middle class

The term 'middle class' in the video describes a socioeconomic group that falls between the working class and the upper class. Siddharth, the protagonist, is from a middle-class background, which is used to emphasize the可行性 of achieving significant business success regardless of one's socioeconomic origins.

💡Mentorship

Mentorship involves a relationship in which a more experienced or knowledgeable person guides a less experienced one. In the video, the businessman becomes a mentor figure to Siddharth, offering advice and sharing his experiences, which is a key element in Siddharth's journey towards starting his business.

💡Odoo

Odoo is an all-in-one business management software mentioned in the video. It is highlighted as a tool that can simplify various business processes like document signing, website creation, and inventory management. The video uses Odoo as an example of a platform that entrepreneurs can leverage to manage and grow their businesses efficiently.

💡Document signing

Document signing in the video refers to the process of adding a signature to a document, often for legal or official purposes. It is used as an example of a simple yet significant business need that, when addressed effectively, can lead to the success of a business, as illustrated by the story of a software company that became highly valuable by offering online document signing services.

💡Idea validation

Idea validation is the process of confirming the viability and potential success of a business idea. The video discusses the importance of validating business ideas through market research and customer feedback, as exemplified by the '48 hours Honey Challenge' where Siddharth tries to secure advance payments for a product that does not yet exist.

💡Market research

Market research involves the gathering and analysis of data about consumers and their behaviors. In the video, market research is depicted as a critical step in the business creation process, where potential entrepreneurs assess market size, growth, competition, and customer needs to determine the potential of their business ideas.

Highlights

The video discusses a strategy for starting a business using insights from multi-millionaires.

Noah Kagan's strategy is highlighted, who started eight multi-million dollar businesses.

The video emphasizes the importance of optimism and learning from successful entrepreneurs.

Siddharth, a middle-class boy with big dreams, is introduced as a relatable character.

Siddharth's motivation from a millionaire businessman's speech at a college event is a key turning point.

The businessman agrees to mentor Siddharth, providing valuable business advice during a car ride.

The concept of starting a business is simplified through the story of Siddharth and the businessman.

The video introduces the idea that businesses can be started with simple solutions to common problems.

Noah's story of starting a business by providing a solution for online document signing is shared.

The Odoo platform is recommended as an all-in-one business management software.

The video explains the importance of starting a business without waiting for perfection.

The 'dollar challenge' and 'coffee challenge' are introduced to overcome the fear of starting and asking.

The founder's approach versus the customer's approach in starting a business is discussed.

The video provides practical steps for finding a profitable business idea.

Market research techniques like using Google Trends and analyzing competition are suggested.

The '48 hours Honey Challenge' is introduced to test the viability of a business idea.

The video concludes with a call to action for viewers to apply the strategies discussed.

A free PDF with additional insights on growing a business is offered as a gift to viewers.

Transcripts

"Hey friends, is it okay if I ask you a question and you give me a true answer?"

"What do you think?"

are you in 48 hours, meaning in just 2 days

"You can start a one-million-dollar business in just one weekend."

Well, if your answer is no.

It simply can't be done, and I've used clickbait.

So, let me tell you that this wasn't a clickbait video, there's no gimmick.

Instead, there's actually a strategy behind it, used by the author Noah.

Kagan has started not one, not two, but eight multi-million dollar businesses.

While on the other hand

If your answer was already yes, then this video is important for you.

because today you will learn to be actually optimistic instead of blindly optimistic.

how you can achieve exactly step by step like an author.

Very powerful insights directly from the books of multi-millionaires.

You are going to learn a lot.

but yes, before telling you these million-dollar things for free

I have a request, please do watch the video till the end.

I have also kept a gift for you all, plus subscribe so that our...

Seeken Book Summary is joining the Ten Million Subscriber Club in India, a dream

that only you can fulfill.

Now let's start, there is a boy named Siddharth who belongs to the middle class.

But his dreams are very big.

He wants to achieve something big in life.

He wants to start his own business.

That's why he keeps watching many videos related to business.

He learns from Shark Tank.

The personal problem is that he hasn't been able to start his business yet.

And he was living in such a delusion.

One day, there is a business event in his college where a chief...

guest comes, a millionaire businessman, who goes on stage and shares his story.

Now, the thing is, that person's story is very powerful.

which connects with Siddharth a lot, that person's story and Siddharth's story.

Somehow, they resonate with each other.

He also comes from a middle-class background.

Today, he is super successful.

After listening to this speech, Siddharth gets very motivated, and that's when he...

realizes that the speech is over and the business owner is about to go.

Meaning, his golden chance is slipping away.

His heart starts beating faster than 200 beats per minute.

He starts sweating profusely.

He gathers courage and goes to that business man and says

"Sir, can I talk to you for just two minutes?"

The businessman initially ignores him a little.

He says again, "Sir, please just two minutes."

After this, the business owner stops and asks.

how can I help you?

He says, "Sir, I have a lot of ideas and I want to become like you."

Please help me

After hearing this, the businessman hesitates a bit.

He thinks for a second or two.

But then, when the businessman sees the sparkle in Sidd's eyes and the hunger for success,

he remembers his own childhood.

After which, he smiles and says, "Son, the next meeting I have from here..."

is 15 minutes away at a location nearby.

I can't do an equal to your question-answer.

If you want, you can come with me there, and along the way, whatever questions...

you have, you can ask.

After hearing this, Siddharth can't contain his happiness.

Then he sees a Rolls Royce coming towards him.

Shining, he looks at it and is even more impressed.

Dude, the Rolls Royce that he...

had never even dreamed of, today he gets the opportunity to sit in such a car.

As he gets into the car, he feels like he has entered another world.

The atmosphere is different.

He is enjoying that feeling.

Suddenly, the businessman asks, "Tell me, how can I help you?" and Siddharth is so overwhelmed.

He feels shocked and good at the same time, not understanding what to ask for.

He manages to say something after a struggle.

"Sir, I want to become like you in any way possible. Please tell me how I can start a business."

The businessman understands his nervousness and says, "Look,..."

The good thing is that you asked me, and are you lucky too?

because the thing is

A few years ago, when I was like you, no one explained to me as a mentor.

I got a book.

That book cleared all my doubts related to business.

and to be honest

That book itself...

is the reason why today I have been able to build such multi-million dollar businesses.

And today, I tell you the same things.

One by one, the business owner explains the principles to Siddharth.

Just then, he receive an urgent call.

In the call, they find out that they need to sign an urgent document.

for a business, so he take out his tablet

and check the document, then start signing it.

Suddenly, Siddharth asks,

"Sir, can business work by directly signing online as well?"

Mr. B, smiles at him and says yes yess why not?

In fact, there was a story related to this thing. The thing is...

that Noah had to start a business in 48 hours, so Noah noticed one thing

There was a software company, particularly.

that used to work for the business by getting online documents signed.

The company that was there to get a small job done

used to charge a monthly subscription fee of 50 dollars.

By just doing this simple thing, the company had become a 12 billion dollar company.

This problem, of signing documents and sending them to someone,

was actually a genuine problem, which Noah himself noticed in his life.

That's why he launched a software.

He offered lifetime access for just 100 dollars without any subscription

The business did quite well, and this thing he...

had done in 48 hours, so this is also a lesson for you, what you should do

Siddharth asks, "Sir, are you also using Noah's software?"

Mr. B smiles and says, NO

"I am using a better platform than that."

"For many tasks," he says, "look...

"Siddharth, signing documents is just one thing."

"There are many other things like this."

"When you start a business, you will realize things like website creation."

"Invoice accounting, project management, inventory management, and much more."

"I use the same platform for all these things because it's quite good."

Its name is Odoo. You should definitely use it too.

Odoo is basically an all-in-one business management software that helps entrepreneurs with their day-to-day tasks

It simplifies the management process.

And the good thing is that the first app of Odoo is completely free to use for you.

it's free for lifetime.

Where you don’t need any credit card or free trial.

You won't need to pay anything.

For you, it's even better. This is something you should definitely use when you start.

now, for example.

I am currently working, so I can show you this as well, the Odoo signature application.

You can access it online.

It helps in sending documents, getting them signed, and approving them.

That's what I'm doing right now.

As in, for example, you can mention in the document

You would need to enter details such as name, date, email, signature etc.

You can select the fields related to whatever you need here

You can easily insert your signature in your documents wherever you need it

you can also drag and drop

Which fields are mandatory, which are not, what needs to be filled in by whom.

You can mention everything.

You can also set the order of document filling.

After you sign and add your data, the document will be sent to your client.

For signing as well, you have three options.

automatic signature

You can either draw your signature yourself or upload a picture of your signature.

Then you

Odoo will automatically send the document to anyone whose signature is required.

You can see it in the Odoo Sign app dashboard.

You can also monitor the status of all the documents you have.

And when you receive the other party's signature, you will be notified in the notifications.

I use Odoo here because all exchange operations are completely secure.

Your data is also very private.

Where I use two-factor authentication to keep it secure.

According to me, you should definitely check out this platform.

There are many features that you as an entrepreneur

You can use features in odoo that you should use too.

It will help you get started, alright

link in the description

The business owner says, "Look, to create a big business..."

You only need to understand three parts.

first is start it

2nd is Build it, and 3rd is Grow it

The biggest challenges that come when starting, how to face them, how to start.

Then, in the second part, how to select an idea.

How to work on it?

What challenges to take on and third, how should you grow your business?

All these things are important.

To become a businessman like me, I will teach you step by step.

The first thing I realized, which is also your problem, is the starting.

So far, why haven't you started your business yet?

I haven't started my business yet because...

I'm not finding any good ideas.

I'm not sure which idea to work on.

There are many ideas, but which one would be the best for me.

I'm not understanding that.

The business owner we'll refer to as Mr. B from now on, Mr. B tells him

The biggest problem is waiting for perfection.

I was stuck in the same thing too.

we all think that

The thought is that we'll start the business when we have a really great idea.

You need the perfect idea, but to be honest, all the big businesses that exist, like...

Take Facebook, for example. The Facebook we see today wasn't like that in the beginning.

Facebook was initially a "hot or not" website where people voted on attractiveness.

Who is hotter?

And then Facebook evolved to become what it is today.

When many businesses started on Instagram, they were quite different.

But then they changed according to the customers.

That's why the first solution to your problem is this.

"Just Start" and this is also the first chapter of this book.

"I had learned that whatever idea you have, it doesn't seem perfect to you."

You first need to start.

That's why we can't start.

There are only two reasons behind it.

The first is fear of starting, and the second is fear of asking.

We all fear rejection a lot.

We fear that we might have worked hard, done a lot of work.

If people reject it, they won't like us.

If we don't achieve success, what will happen?

So, for solutions to this, there are two options.

The first is the dollar challenge, which will end your fear of starting

This is something the authors of this book also do many times to end people's fears.

They say to go to your family members or anyone else.

You can also approach a random person and tell them about your business idea.

Any idea you have!

And just ask them, "Will you invest a hundred rupees in my business?"

And the challenge here is to make sure that you...

If we look at it in terms of dollars or in terms of India, we typically say "We take a hundred rupees."

100 rupees should be invested in your business by someone

"Whatever your idea is, invest in it."

"Now, it may seem like a very small thing, but every small thing is not insignificant." because

"This will lead to something."

"This will take you out of your comfort zone."

"It will teach you responsibility because you are taking money from an investor."

"Which is less but good."

"There is something, and from here, there will be one more important thing."

you will learn “The Power Of Embracing Rejection”.

"Mr. B says

"The author's father was a door-to-door salesman."

"he showed the author something."

"It taught him something that helped him set up many businesses later on."

what was that? it was To Love The Rejection

"His father always used to tell him that..."

"You shouldn't see rejection in a negative way; rather, you should love it.”

"You should treasure rejection like a treasure."

"In fact, you should set rejection as a goal, like for example..."

"This week, there will be 100 rejections."

set such goals, instead

"This means I will close ten people in this regard."

"When will you reverse this?"

"Then you will become even more thick-skinned."

"And what will be the goal of getting these rejections, that some people will also say yes."

"So, this is the first challenge.

"And the second challenge you have to take is the coffee challenge, which will teach you."

Practice of Asking

"What do you have to do in this challenge when you go anywhere?"

"Like, for example, if you are going to a coffee shop to buy something."

goin to MC Donald

"If you are going to eat anywhere, then politely ask people."

"That I want a 10 percent discount, and don't give any justification."

"I have also tried this thing."

"Just with a smile, you have to make the request."

"The maximum chance is almost always you will get rejection in this thing."

"But the point here also is that you have to take rejection."

"As I mentioned earlier, this exercise is something that big professionals are afraid to do."

"If you do this thing, as I did too, then your fear of"

"Starting and fear of asking, you will overcome both difficult things."

"Three percent of people never let others start."

"After hearing this, Siddharth gets quite excited and says,"

"Sir, you are absolutely right."

"I am very afraid of rejection."

"I am afraid of asking anything from people."

"This might be the reason why I haven't started yet."

this is the reason, exactly

"99 percent of the time, people can't start because..."

"They are afraid, and these two challenges are the best way to eliminate that fear."

Sir, i will surely

"I will definitely do both of these challenges."

"After this, let's move on to Part Two, “Build it”.

"Whenever a person starts a business, they take one of two approaches."

"The first one is the Founder’s approach, and the second one is..."

Customer’s approach

"In the founder's approach, people usually..."

"The maximum mistake people make is that they..."

"They take a good office space, renovate it very well, often on rent."

"They buy new things, purchase computers,"

"Buy ingredients, do good packaging, make it beautiful."

"They create a website."

"They make everything perfect according to themselves."

"The day their product launches, they realize one thing."

"Or even after doing all this, customers are not coming."

"Yes, what they thought of selling cookies, the student to that student."

"Customers are not even coming to buy their cookies, and this approach is not correct."

"Instead of this, the approach you should use is the customers first approach,"

"Where you have to open a bakery, take rent, hire people for all these things,"

"Before doing all that, the product you have," for example

"You have thought that you will sell an energy cookie, which students will use."

to be energetic

"So go ahead and try to sell directly to a student by making one."

"Look, when you try to sell directly to them, you'll realize that maybe..."

"They may not want cookies that are so expensive, so you'll realize that..."

"Whatever you were thinking of making such expensive cookies, students won't buy them."

"Instead, it's better if you make a small packet of cookies,"

"sell it cheaply, and then deliver that thing directly to them."

directly from your house

"And this is what we call the customers-first approach."

"The author also made this mistake once with bet arcade."

"A business was launched where he thought that..."

"They would create a fantasy sports betting app."

"Now, this concept was quite trendy. It was quite good."

the thing was

"When they launched that thing, they saw that no one..."

"The users were not coming to use it. They were not betting."

"But that was their founder approach which proved to be wrong."

"Then they didn't give up after this, and they started focusing on the customer approach.

"Meaning they started to see..."

"Exactly what the pain points of the customers were."

"And how they could solve them.

"When they focused on this, it became apparent that there were many high...

"businesses with high payment processing fees in the market, and there were many such companies."

"who made deals with Facebook and had to pay them a lot of fees."

"These businesses, he saw an opportunity here."

"So they changed it to Gambit and started a payment processing service."

"Where they took a much lower commission rate for Facebook games."

by existing solution

"Then what was it, because they were providing better services to people."

"With their lower prices, their business started to skyrocket."

"They did this within a week."

"Similarly, you too always keep a customer-first approach."

"Now Siddharth enjoys listening to all these things."

"But he says, sir,"

"All these things are quite powerful. I've also noted them down."

"Exactly, step by step, how can I start?"

my business idea? can you tell me

Mr. B says ok I’ll tell you

"So, the first step to setting up your million-dollar business is to do step 1."

Find your profitable idea

"And in this, you need to understand that the customer doesn't care about your idea."

"People care about whether you can solve their problems."

"And to be able to do that, you need to select a good idea."

you have 4 ways, first is to solve your

own problems

"Like, for example, there's an entrepreneur named Shane Heath who really enjoys drinking coffee."

"But whenever he drank it, he would feel a little anxious."

"And afterwards, he would get some energy, but he would feel very down."

"And he noticed this problem was there for him and for many other people too."

"Still, people keep drinking coffee."

"After that, Shane came to India one day."

"As soon as Shane tried masala chai after coming to India,"

"he found it so delicious in taste, and he also got the caffeine kick he needed from it."

"Which gave him the idea."

"He invented the product 'Mud/WTR' here."

"Basically, the 'mud' was a masala chai that served as a replacement for coffee, which contained a bit..."

"They also added health benefits."

"After the relaunch, what did he do?

"They were going somewhere to the office."

"he were meeting people here and there while holding a mug of mud in his hands."

obviously, people would become curious about what it was, so they would tell them, which led to

They would test it once, and because the product was good, people would also get hooked.

And just by solving this simple problem, they made sixty.

"Million-dollar courier business"

"The first way through which you will get a good idea."

"The second good way is to generate business ideas."

Compliment A Bestseller

Let's trade in something new that is already popular.

like, for example

iPhone covers, video games, tutorials, or I watch the Seeken YouTube channel.

He also provides summaries of popular books there, which is also a complement to bestsellers.

even you can do something like this

Third idea is

Scour Market places, like outside India there is eBay, Etsy and craigslist

"By the way, here in India, we have Amazon, Flipkart."

"Go there and see which products are best sellers."

"And can you create a good solution based on the best-selling product?"

"The fourth place where you can get ideas, whether it's cheap or better for customers."

Google what people are googling, start searching on google

"The automatic feature of Google search is a gold mine."

"When you type 'how to' there, you will find many things like that."

How to read books, or how to loose weight

"Yes, you will find many things like that."

"Based on that, you can basically get an idea of which problem you want to solve.”

"Is it the people's?"

"After this, you move to step two once the idea has been selected."

"After that, you need to find out whether this idea will reach one million or not.

"So, not every idea will make you a lot of money."

you have to make sure

"You need to test whether your idea has the potential to be a billion-dollar idea or not."

Yes, for this, you may have seen "Shark Tank," where the sharks ask questions.

There are many key things that you should focus on.

1st market size

So, you need to see how much the market is already related to your idea.

How many people are already searching for a solution to that problem,

"The market that could be yours."

"The second, market growth - how fast the growth is happening there."

"Is the idea you're considering for the market growing or shrinking?"

this is also very very important

3rd is competition, the product you are going to sell

"Is someone else already selling it, and if so, how are they selling it?"

you should also try to find out some numbers.

You'll find many tools that are free, like Google Trends, which you can search for.

Yes, you can find out all those numbers.

"After that, there are a few more simple things, such as for example."

"If you've thought about how to lose weight..."

"You've seen this. It's a big problem."

"So you're creating a fitness app, and for that, you can use some other things as well."

"Such as Google Trends, keyword search, and Facebook ads."

"Just go to Google Trends and search."

"There are trends related to fitness."

what is happening

"It's growing, declining, and you can also do more specific keyword searches in it."

As an example, "diet planning."

So, see how many people are interested in diet-related topics.

then related to that

You can also see ads to see how many people are creating ads related to the same topic.

Many tools also come that can tell you specifically about this.

That your competition is running how many ads.

How many conversions they are getting, how many not

Which ads, and this will also help you in doing thorough market research.

Whenever you analyze competitors here.

So you will benefit from this.

This will help you know which app you are thinking of creating.

Is it already in the market?

If it is, what are its user reviews, and what things are they getting right?

What things are they doing wrong?

What features should be there when you create the app?

What should be its marketing strategy?

When you start researching like this, you will begin to realize.

Can this business idea become a million-dollar business or not?

This is step number two that you need to do.

the last one is step no. 3

48 hours Honey Challenge

what you have to do in this challenge is

you have to try within 2 days to find atleast three such people

Try to find those who are willing to pay you for your product.

Here, the focus should be on not just finding three people.

That the people you find are actually interested in making the product, not just saying "yes, yes."

You need to find people who will actually pay you.

while doing this, obviously

You'll need to give your pitch and clearly explain to people.

You'll need to explain what your product is and why those people need it.

And at the same time when you pitch, you'll need to persuade people to buy.

You don't have a product yet, but still, you have to convince them to buy.

By saying that I am offering you an early but discount.

You will receive the product in some time, which you can give them the date for.

In 15 days, in 30 days, and then after that, you need to do testing product not built yet.

Even after doing this again, you should utilize online marketplaces such as Facebook Marketplace.

You need to go there, list your product, and see.

Whether random people will be willing to pay in advance for your product.

Then, alongside that, focus on getting feedback on this thing.

If someone tells you "No, I don't want it."

You can respectfully ask why they're not interested in it.

Have they seen any other product, a better product perhaps?

Or how can you make your product better so that they might consider buying it?

And then you'll gather feedback from here, and you'll need to iterate.

after this you will be testing it

you can also do this on social media

You can create a simple website for free on social media.

Many options are available, and see if people check out your website.

visiting your page?

Would this also be a good indicator, and finally set one goal?

At least three sales in 48 hours.

This will be your ultimate challenge: when you bring in three customers at once.

Within two days, you'll realize that there's something substantial to it.

Now, three is a very low number, try to bring even more.

Well and good. The more numbers you bring in, the more you'll realize that you're headed in the right direction

Just do the same things that I did for my product.

for my software company

Trust in all these things helped me in making and selling a good product.

Because of which I was able to become a millionaire within a few years.

you also start this for sure

Mr. B used to explain all these things to Siddharth.

That's when the car stops.

Their location comes up where their meeting is.

Mr. B says, "Look, in part three, grow it."

I haven't told you about this yet.

To be honest, you don't even need it right now.

I've told you everything you needed to know.

Now, as much as I've told you, if you apply everything, don't worry.

To discuss further details, I'll definitely connect with you from the office.

Mr. B says this, handing him his card, and he start to leave from there.

Siddharth, expressing his gratitude, thanks them and makes promises to them.

"I will definitely start some business within the next two days."

"You'll also get an update on that, sir. Thank you so much."

So Siddharth leaves from here.

Starting his new business venture with full enthusiasm and determination.

If you're interested in knowing what happens next, or if you're curious, then after this, what happens?

If you're interested in knowing about "Part Three: Grow It," then be sure to let me know by commenting.

I'll definitely share the story and the lessons from the book with you in the future.

Just as Siddharth has taken a challenge, I want you to take on a challenge too.

In the next 48 hours, whatever your idea is...

The things mentioned in this book are explained in this video.

According to those things, start implementing it practically.

do something

take action

Do let me know how you feel after doing that.

And as I mentioned, if you're still tuned in, there's a gift for you guys too.

So the gift is that whatever I've talked about in the video

I have documented the aspects of "Plus Part Three: Grow It" in a PDF.

If you want to know too, what has been taught in the Part Three book?

how to grow your a business

I have given the link to the complete free PDF in the description.

Go ahead and take it.

it’s completely free

If you go there, you'll become a member of our book club.

Where I share amazing things about books for free.

You'll find many one-page PDF to two-page PDF summaries there.

The gift from me to you guys, so be sure to check it out.

but I would recommend you

Apply parts one and two practically before moving on to part three.

Learning about books is not only important for oneself.

Applying their teachings is important.

Because applying will get you results, so remember that thing.

Go and apply like Siddharth, rest if you want to become an expert in this.

Where we discuss part 3 of this video.”

"Where you want to know how Siddharth applied these things.”

"And what results did he get?”

"If you're interested in this, be sure to comment and let me know, and learn more about it.”

"If you want me to explain further by making a video, let me know."

"So be sure to comment for that.”

"I will make the next video on this soon."

"And yes, if I have already made the video."

"So, I'll provide the link in its description here. You can go and watch the video there."

"This will basically be your next part."

"If I make this video, as explained in this video..."

"About Odoo, Odoo is a very interesting platform."

"Where you can do multiple things using just one platform."

"To organize your business, which is very important."

"If you are interested, I have provided the link in the description."

"You can use it from there."

"You can use the first app for free here."

"Thank you so much, see you in the next video, bye bye."