If I Started A New Online Business, I'd Do This First

Summary

Dieses Video-Skript bietet einen umfassenden Leitfaden für Unternehmer, um auf einen lukrativen Marktplatz abzustimmen, indem es den Begriff 'Produkt-Marktfähigkeit' erklärt. Der Sprecher teilt seine Erfahrung, wie er in sechs verschiedenen Unternehmen von null auf 10.000 Dollar im Monat steigen konnte, und betont, dass das Fehlen eines Produkt-Marktfähigkeit die Haupthürde für Anfänger ist. Er führt durch einen achtstufigen Prozess, der jedem helfen kann, eine passende Marktnische zu finden und so das Einkommen zu steigern. Dazu gehört das Schreiben seiner persönlichen Geschichte, die Identifizierung seiner Zielgruppe und Transformation, sowie die Verwendung von AI, um geschäftliche Ideen zu generieren. Der Fokus liegt auf der Bedeutung, ein Produkt zu haben, das Menschen tatsächlich wollen, und wie dies das Wachstum und die Rentabilität eines Unternehmens fördert.

Takeaways

• 💡 Produkt-Marktfähigkeit ist entscheidend für den Erfolg eines Geschäfts, da ohne Bedarf nach einem Produkt kein Gewinn erzielt werden kann.
• 🔍 Um ein erfolgreiches Geschäft zu gründen, sollte man zuerst ein Problem identifizieren und dann eine Lösung dafür entwickeln, anstatt umgekehrt zu arbeiten.
• 🤔 Die meisten Menschen scheitern, weil sie ein Geschäft aus der Luft greifen und nicht auf einer echten Bedarfbasis aufbauen.
• 💭 Der Schlüssel zum Geldverdienen liegt in der Problemlösung, die den Menschen helfen, ihr Leiden zu lindern oder ihre Ziele zu erreichen.
• 🤝 Wichtig ist es, ein Geschäft zu gründen, das man leidenschaftlich vertritt und bei dem man bereit ist, langfristig zu bleiben.
• 📈 Die Wahl des Nischens sollte sorgfältig erfolgen, um ein Geschäft zu gründen, das nicht nur Rentabilität verspricht, sondern auch persönliches Engagement gewährleistet.
• 🔑 Der Erfolg hängt von der Intensität des Bedarfs für das Produkt ab, was die Skalierung des Geschäfts erleichtert.
• 🎯 Um Produkt-Marktfähigkeit zu finden, sollte man seine eigenen Geschichten und Erfahrungen nutzen, um eine Verbindung mit einer Zielgruppe herzustellen.
• 📝 Schreiben Sie Ihre persönliche Geschichte und Identifizieren Sie die Nischen und Transformationen, die Sie verstanden haben oder in denen Sie Erfolg hatten.
• 🤖 Nutzen Sie künstliche Intelligenz wie Chat GPT, um verschiedene Geschäftsideen zu generieren, die auf Ihrer persönlichen Geschichte basieren.
• 📉 Überprüfen Sie mithilfe von Chat GPT oder eigener Analyse, welche Geschäftsideen am besten zu Ihren Stärken und dem Bedarf der Zielgruppe passen.
• 📈 Wichtigkeit der Konzentration auf eine spezifische Nische und Transformation, um ein erfolgreiches Geschäft zu gründen und langfristig erfolgreich zu sein.
• 🚀 Die Bedeutung der Aktion und des Testens von Ideen, um herauszufinden, ob sie den Bedarf des Marktes erfüllen und ob man in der Lage ist, dieses zu erfüllen.
• 📊 Die Notwendigkeit, vor dem Bau eines Produkts zu verkaufen, um sicherzustellen, dass es nachhaltig und erfolgreich sein kann.
• 🗣️ Die Wichtigkeit des Gesprächs mit potenziellen Kunden, um ein tieferes Verständnis für ihre Bedürfnisse, Ängste und Probleme zu erlangen.

Q & A

Was ist der Hauptgrund, warum Anfänger im Bereich Online-Geschäfte oft nicht den Monatsumsatz von 10.000 Dollar erreichen?

Der Hauptgrund ist, dass sie kein Produkt-Marktfit gefunden haben. Das bedeutet, sie haben kein Produkt, das der Markt tatsächlich will.

Was bedeutet das Konzept des 'Produkt-Marktfits'?

Produkt-Marktfit bedeutet, dass es ein Produkt gibt, das Menschen tatsächlich wollen und das der Markt benötigt. Ohne ein solches Produkt ist es schwierig, einen Umsatz von 10.000 Dollar im Monat zu erzielen.

Welche Rolle spielt die Begeisterung für ein Produkt für den Erfolg eines Geschäfts?

Die Stärke der Sehnsucht nach einem Produkt bestimmt den Erfolg des Geschäfts. Je mehr Menschen ein Produkt wollen, desto einfacher ist es, diesen Umsatz zu skalieren.

Was ist der Grund, warum man in einem bestimmten Bereich nicht wechseln sollte, nur weil man dort Probleme hat?

Weil in jedem Bereich Probleme bestehen und es in jedem Bereich Nachfrage gibt. Statt den Bereich zu wechseln, sollte man versuchen, die Botschaft anzupassen, länger im Bereich zu bleiben und die Nachfrage zu finden.

Was sind die häufigsten Fehler, die Menschen machen, wenn sie ein Geschäft gründen?

Sie sind: a) Sie suchen nach einer Lösung, bevor sie ein Problem gefunden haben; b) Sie kümmern sich nicht darum, ob sie das Geschäft mögen oder nicht; c) Sie definieren nicht, wem sie helfen oder welches Problem sie lösen; d) Sie wählen ein Geschäft, bei dem sie keine Fähigkeiten haben oder kein Interesse haben, es zu verbessern; e) Sie folgen anderen Leuten in einem Bereich, was zu starker Konkurrenz führen kann.

Wie kann man mit der Verwendung von KI (künstliche Intelligenz) nach einem Produkt-Marktfit suchen?

Man kann Chat-GPT oder eine ähnliche Technologie nutzen, um basierend auf der eigenen Geschichte und dem angestrebten Wandel (Transformation) verschiedene Geschäftsideen zu generieren, die einem angemessen sind.

Was ist der Zweck des 'Mockup-Methods', den der Sprecher im Video vorstellt?

Das Ziel des 'Mockup-Methods' ist es, einen Entwurf des Produkts zu erstellen und diesen dem Markt vorzustellen, um zu testen, ob die Menschen bereit sind zu zahlen, bevor das tatsächliche Produkt entwickelt wird.

Welche Schritte empfiehlt der Sprecher, um ein Geschäft zu gründen, das in den ersten Schritten Erfolg hat?

Der Sprecher empfiehlt, zunächst seine eigene Geschichte zu schreiben, dann mit der KI nach Geschäftsideen zu suchen, diese selbst zu definieren, einen Hypothesen-Nischen-Wandel zu wählen, mit Menschen aus dem Markt zu sprechen, Muster zu erkennen und Notizen zu machen und schließlich, bevor man ein Produkt baut, diesen Markt zu verkaufen.

Was sind die Kriterien, die Alex Morelli für die Auswahl der richtigen Nische und Transformation vorschlägt?

Alex Morelli schlägt folgende Kriterien vor: a) Ist die Nische schmerzhaft? b) Wächst die Nische im Laufe der Zeit? c) Hat die Nische Geld? d) Kannst du der Nische helfen? e) Hast du Freude an der Nische?

Wie kann man sicherstellen, dass man eine echte Nachfrage im Markt vorfindet?

Man kann eine Liste der Wünsche, Ängste und Probleme des Marktes erstellen und nach Mustern suchen. Man sollte auch mit Menschen aus der Nische sprechen, um ein tieferes Verständnis zu erhalten und zu überprüfen, ob es eine starke Nachfrage gibt.

Welche Rolle spielt die 'Produkt-Markt-Gründer-Passung' in dem Prozess des Findens eines erfolgreichen Geschäfts?

Die 'Produkt-Markt-Gründer-Passung' ist wichtig, weil man nicht nur ein Produkt finden muss, das der Markt will, sondern auch etwas, an dem man gerne arbeitet und das man langfristig verfolgen möchte.

Was bedeutet der Ausdruck 'Action, action, action', den der Sprecher im Video betont?

Der Ausdruck 'Action, action, action' betont die Wichtigkeit von Handeln. Anstatt zu warten oder zu überlegen, sollte man sofort handeln, Tests durchführen und Erfahrungen sammeln, um voranzukommen.

Outlines

00:00

🚀 Einführung und Bedeutung von Product Market Fit

Der Autor beschreibt seine Erfahrung, in sechs verschiedenen Unternehmen jeweils 10.000 Dollar pro Monat zu verdienen, indem er das Konzept des Product Market Fit gefunden hat. Er erklärt, warum 95% der Anfänger dies nicht erreichen und kündigt an, die acht Schritte zur Erreichung dieses Ziels zu erläutern. Mark Andre, ein Investor, betont, dass es nur auf das Erreichen des Product Market Fit ankommt. Dieses Video richtet sich an diejenigen, die online Geld verdienen möchten, aber Schwierigkeiten haben, die richtige Marktnachfrage zu finden.

05:01

🔍 Die Definition und Wichtigkeit von Product Market Fit

Product Market Fit bedeutet, dass ein Produkt existiert, das der Markt tatsächlich haben will. Ohne diese Passung kann man kein Geld verdienen, da niemand das Produkt kauft. Sobald der Markt das Produkt will, wird es einfach, auf 10.000 Dollar pro Monat zu skalieren. Die Stärke der Nachfrage bestimmt den Erfolg des Geschäfts. Y Combinator, bekannt durch Unternehmen wie Airbnb und Reddit, hat den Slogan 'Make something people want', was die Bedeutung des Product Market Fit unterstreicht.

10:01

📉 Häufige Fehler bei der Suche nach Product Market Fit

Viele Menschen machen den Fehler, eine Lösung für ein nicht existierendes Problem zu suchen, anstatt ein reales Problem zu identifizieren und dann eine Lösung dafür zu entwickeln. Zudem starten viele ein Geschäft, das sie nicht interessiert, wodurch sie nicht langfristig dabei bleiben. Weitere Fehler sind, sich selbst als Nische zu betrachten, in einem Bereich tätig zu sein, in dem man nicht gut ist, oder sich zu sehr auf Wettbewerbsbereiche zu konzentrieren, was zu Preisverfall und geringem Profit führt.

15:02

📜 Erstellung deiner eigenen Geschichte und Nische

Der erste Schritt besteht darin, seine eigene Geschichte und die erlebten Probleme und gelösten Herausforderungen niederzuschreiben. Diese Geschichte dient als Grundlage, um Nischen und Transformationen zu definieren, die man anderen anbieten kann. Beispiele aus der eigenen Erfahrung helfen dabei, spezifische Zielgruppen und ihre Bedürfnisse zu identifizieren, was essentiell für den Geschäftserfolg ist.

20:03

🤖 Nutzung von KI zur Geschäftsideenfindung

Der Autor empfiehlt, mithilfe von ChatGPT Geschäftsideen zu generieren, indem man seine Geschichte und den gewünschten Transformationsprozess eingibt. ChatGPT kann so verschiedene Geschäftsideen vorschlagen, die auf den eigenen Erfahrungen und Fähigkeiten basieren. Diese Methode hilft, klar zu definieren, wer die Zielgruppe ist und welche Transformationen man ihnen anbieten kann.

25:04

🎯 Nischen und Transformationen selbst definieren

Es ist wichtig, zehn Nischen, die man gut versteht, und drei Transformationen oder Probleme, die jede Nische hat, zu identifizieren. Dies hilft, eine genaue Vorstellung davon zu bekommen, welche Zielgruppen man bedienen kann und welche spezifischen Probleme man für sie lösen kann. Diese Klarheit ist entscheidend, um erfolgreiche Geschäftsmodelle zu entwickeln.

30:06

💡 Auswahl der besten Nische und Transformation

Nachdem man verschiedene Nischen und Transformationen aufgelistet hat, soll man diejenige auswählen, die am besten passt. Kriterien wie Schmerzpunkte der Nische, Wachstumspotenzial, Zahlungsbereitschaft und persönliche Eignung helfen dabei, die beste Option zu finden. Ein Beispiel ist die Entscheidung, YouTubern bei der Monetarisierung zu helfen, basierend auf früheren Erfolgen und der Fähigkeit, schnell großen Mehrwert zu schaffen.

🔄 Starten mit einer engen Nische

Um erfolgreich zu sein, sollte man mit einer sehr spezifischen Nische beginnen und diese dominieren, bevor man sich auf breitere Märkte ausdehnt. Dies erleichtert das Marketing, verbessert den Verkaufsprozess und führt zu besseren Produkten, da man die Bedürfnisse der Zielgruppe genau kennt. Beispiele wie Facebook, das anfangs nur an Harvard-Studenten gerichtet war, verdeutlichen diese Strategie.

📈 Wettbewerb und Marktnachfrage

Konkurrenz ist ein Zeichen für Nachfrage. Statt zu versuchen, neue Märkte zu schaffen, sollte man bestehende Märkte bedienen und dies besser als die Konkurrenz tun. Google ist ein Beispiel dafür, wie man als später Marktteilnehmer durch bessere Leistung dominieren kann. Der Fokus sollte darauf liegen, bestehende Bedürfnisse besser zu erfüllen, anstatt völlig neue zu schaffen.

💬 Marktverständnis durch Gespräche

Der Schlüssel zum Erfolg liegt darin, den Markt besser zu verstehen als alle anderen. Dies erreicht man durch Gespräche mit der Zielgruppe, um deren Bedürfnisse und Probleme genau zu kennen. Regelmäßige Kommunikation mit potenziellen Kunden hilft, das Angebot perfekt auf deren Wünsche abzustimmen und somit die Marktchancen zu maximieren.

📊 Notizen machen und Muster erkennen

Durch das Sammeln und Analysieren von Informationen aus Gesprächen mit der Zielgruppe können Muster und gemeinsame Bedürfnisse erkannt werden. Dies ermöglicht es, Produkte und Dienstleistungen genau auf die Marktanforderungen abzustimmen. Ein tiefes Verständnis der Zielgruppe ist der Schlüssel zur Entwicklung erfolgreicher Geschäftslösungen.

🛠️ Verkaufen vor dem Bauen

Bevor man ein Produkt entwickelt, sollte man sicherstellen, dass es dafür eine Nachfrage gibt. Dies erreicht man, indem man Prototypen oder Konzepte erstellt und diese an potenzielle Kunden verkauft. Erst wenn das Interesse bestätigt ist, sollte man in die eigentliche Produktentwicklung investieren, um sicherzustellen, dass das Produkt den Marktanforderungen entspricht.

🚀 Handeln und Lernen

Der wichtigste Schritt ist, ins Handeln zu kommen. Durch Ausprobieren und Testen verschiedener Ansätze lernt man am meisten. Fehler und Rückschläge sind Teil des Prozesses, aber sie bieten wertvolle Erkenntnisse. Es ist besser, etwas zu tun und daraus zu lernen, als in Untätigkeit zu verharren und keine Fortschritte zu machen.

Keywords

💡Produkt-Markt-Fit

Produkt-Markt-Fit bezieht sich auf die Eignung eines Produkts für ein bestimmtes Marktsegment, d.h., ob das Produkt tatsächlich von den Menschen auf diesem Markt gewünscht wird. Im Video wird betont, dass ein Produkt-Markt-Fit entscheidend ist, um ein Geschäft erfolgreich zu skalieren und einen monatlichen Umsatz von 10.000 Dollar zu erreichen. Das Video zielt darauf ab, den Zuschauern zu helfen, diesen Fit zu finden, um ihr Geschäft zu wachsen.

💡Skalierung

Skalierung bedeutet das Wachsen und Vergrößern eines Unternehmens oder einer Geschäftsidee. Im Kontext des Skripts ist Skalierung das Ziel, das mit einem monatlichen Einkommen von 10.000 Dollar überschritten werden soll. Das Video präsentiert einen achtstufigen Prozess, um den Produkt-Markt-Fit zu finden, der für die Skalierung notwendig ist.

💡Problemlösung

Problemlösung ist ein zentrales Konzept im Video, das besagt, dass ein erfolgreiches Produkt oder eine Dienstleistung auf der Lösung eines tatsächlichen Problems basiert. Das Video betont, dass man nicht mit einer Lösung anfangen sollte, bevor man ein Problem gefunden hat, und dass der Wert durch die Lösung von Problemen und das Linderung von Leiden entsteht.

💡Nische

Eine Nische ist ein spezifisches Marktsegment, das für ein Produkt oder eine Dienstleistung relevant ist. Im Video wird erläutert, dass man eine Nische definieren muss, für die man eine Transformation oder einen Wandel bietet. Beispielsweise hilft der Sprecher Konsulenten, die auf YouTube wachsen wollen, oder unterstützt Bildungsinfluencer bei der Monetarisierung ihrer Zielgruppe.

💡Transformation

Transformation bezieht sich auf den Wandel oder die Veränderung, die ein Produkt oder eine Dienstleistung für den Kunden oder die Zielgruppe bewirken soll. Im Video wird dargestellt, wie man eine Transformation für eine definierte Nische identifizieren kann, um ein Geschäft zu gründen, das auf der Grundlage dieser Transformation wächst.

💡Monetarisierung

Monetarisierung ist der Prozess, bei dem ein Unternehmen oder eine Person Einnahmen aus einer bestehenden Ressource, wie z.B. einem Publikum oder einer Community, generiert. Im Video wird dies anhand des Beispiels eines Bildungsinfluencers veranschaulicht, der durch die Hilfe des Sprechers seine Zielgruppe monetarisieren konnte.

💡KI (Künstliche Intelligenz)

Künstliche Intelligenz wird im Video als Werkzeug vorgestellt, um geschäftliche Ideen zu generieren, die einem Produkt-Markt-Fit entsprechen. Der Sprecher verwendet Chat GPT, eine KI-Technologie, um basierend auf seiner Geschichte und seinen Fähigkeiten verschiedene Geschäftsideen zu erstellen.

💡Herausforderungen für Anfänger

Die Herausforderungen für Anfänger im Video umfassen das Finden eines Produkt-Markt-Fit, die Überwindung von Überforderung, Verwirrung und Verlust. Der Sprecher teilt, wie er selbst durch diese Phase ging und wie das in dem Video vorgestellte Konzept Anfängern helfen kann, diese schwierige Phase zu überwinden und ein erfolgreiches Geschäft zu gründen.

💡Mockup

Ein Mockup ist eine Vorstellung oder ein Modell eines Endprodukts, das verwendet wird, um Feedback zu sammeln und das Interesse des Marktes zu testen. Im Video wird der 'Mockup Method' vorgestellt, bei der man einen Entwurf seines Produkts erstellt, um zu testen, ob Leute bereit sind,为此 zu zahlen, bevor man das tatsächliche Produkt entwickelt.

💡Aktion

Aktion ist ein Schlüsselbegriff im Video, der die Bedeutung von Handeln und das Umsetzen von Ideen betont. Der Sprecher betont, dass es wichtig ist, Dinge zu tun, zu testen und zu versuchen, anstatt nur zu warten oder zu überlegen. Durch Aktionen entsteht Wachstum und man findet heraus, ob ein Produkt oder eine Idee funktioniert.

Highlights

Erreichung eines monatlichen Einkommens von 10.000 Dollar in sechs verschiedenen Geschäftsbereichen durch das Finden einer Markt-Produkt-Passung.

95% der Anfänger erreichen nicht den Monatsverdienst von 10.000 Dollar, da sie keine Markt-Produkt-Passung haben.

Video zeigt acht Schritte, um eine Markt-Produkt-Passung zu finden, um das Einkommen zu skalieren.

Mark Andre, Investor bei Stripe, OpenAI und Substack, betont die Wichtigkeit der Markt-Produkt-Passung.

Video richtet sich an Menschen, die Online-Einkommen erzielen möchten, aber nicht wissen, was zu tun ist, oder es nicht funktionieren lässt.

Produkt-Markt-Passung bedeutet, ein Produkt zu haben, das Menschen wollen und das der Markt tatsächlich benötigt.

Y Combinator, der hinter Airbnb, Reddit und Coinbase steht, betont: 'Mache etwas, von dem Menschen wollen'.

Mistake: Menschen beginnen mit einer Lösung, ohne ein Problem zu haben, was vor der richtigen Reihenfolge ist.

Wert entsteht durch das Lösen von Problemen und das Linderung von Leiden.

Mistake: Menschen beginnen ein Geschäft, das sie nicht interessiert, was zu einer fehlenden Ausdauer führt.

Mistake: Das 'Ich bin die Nische'-Problem, ohne eine klare Definition von Hilfe und Problemlösung.

Mistake: Menschen wählen ein Geschäft, bei dem sie keine Fähigkeiten haben oder die sie nicht verbessern wollen.

Mistake: Folgen anderer in einem Geschäft, was zu einer hohen Konkurrenz und niedrigen Gewinnen führt.

Schritt 1: Schreiben Sie Ihre eigene Geschichte und Identifizieren Sie Ihre Stärken und Schwächen.

Schritt 2: Verwenden Sie AI, um verschiedene Geschäftsideen basierend auf Ihrer Geschichte zu generieren.

Schritt 3: Definieren Sie für sich selbst Nischen und Transformationen, um auf sie einzugehen.

Schritt 4: Wählen Sie eine Transformation als Ihre Hypothese aus, um zu testen.

Schritt 5: Verwenden Sie Kriterien, um die beste Nische und Transformation zu identifizieren.

Schritt 6: Sprechen Sie mit Menschen in Ihrer Nische, um Feedback zu sammeln und zu verstehen, was sie wollen.

Schritt 7: Machen Sie Notizen, suchen Sie nach Mustern und versuchen Sie, das Bedürfnis und die Probleme des Marktes zu verstehen.

Schritt 8: Verkäufe vor dem Bauen - Validieren Sie, ob es nach Ihrer Transformation verlangt und ob Sie sie liefern können, bevor Sie ein Produkt entwickeln.

Transcripts

I've gone from0 to $10,000 a month in

six different businesses by finding

product Market fit that is the reason

why 95% of beginners can't get to 10K a

month because they don't have product

Market fit so in this video we'll jump

on my computer I'll walk you through

what is product Market fit and the

eight-step process that anyone can

follow to find product Market fit so

that you can scale to $10,000 a month

and Beyond this is so important that

Mark Andre who's an investor in stripe

opena and substack AK he's a pretty

smart guy says that the only thing that

matters is getting to product Market fit

this video is for you if you want to

earn an income online but you either

don't know what to do or you know what

to do but it's not working aka you're

making less than $10,000 a month and if

this is you then I know that this is the

most painful part of the process it's so

easy to feel overwhelmed confused and

lost and I know that cuz I was there for

a very long period of time and it sucks

but luckily having now beaten this place

this video will help you get out of

there this is the video that I wish that

I had a few years ago now what is

product Market fit very simply you have

a product that people want you have a

product that the market actually wants

why is this important well you won't

make money if you if people don't want

your product when people want your

product scaling to 10K a month becomes

easy the strength of desire for your

product determines the success of your

business

this is so important that Y combinator

which is the startup accelerator behind

Airbnb Reddit and coinbase their

catchphrase for their entire business is

make something people want this is

business 101 if you're below $10,000 a

month it's probably because you haven't

got this part nailed so let's just get

straight into it how to find product

Market fit using AI where most people go

wrong well they're a solution in search

of a problem people try to start an

agency or build a SAS but that's putting

the cart before the horse you don't come

up with the solution until you found a

problem you don't sit there and come up

with business ideas you find a problem

that you think that you can solve and

then you solve it in whatever way that

takes if that's an agency cool if that's

a SAS cool but you start with the

problem you see humans suffer human

blame they're

suffering from problems they they suffer

and they think the reason I'm suffering

is cuz I have problems value comes from

solving these problems and thus easing

suffering that's it that's how you make

money you ease suffering of humans and

they will pay you for

that second problem people start a

business they don't care about if you

don't care about the business you're not

going to stick with it long enough in

order to see results so don't start

business just because you've seen some

YouTube video of someone saying you

should start this type of business

because chances are you don't care about

that sort of business if you don't care

about it you're not going to stick with

it long enough to actually get results

so this process is going to show you how

to find a business that will make you

money but that you'll actually enjoy

enough to stick with it for a long

period of time which is what's needed to

make

money the next problem people say I am

the niche this is some huge craze at the

moment to say you are the niche but the

problem with that is that you need to

still Define who you help and what

problem you help solve who cares if

you're the niche people don't care about

you yet people don't care about who you

are or what you find interesting people

care about easing their suffering so

even if you are the niche you still need

to Define who you are in a way that

other people will resonate with you need

to Define who you are and what problem

you solve otherwise you're screwed or

people suck at the thing they do they

pick a business they suck at and they

pick a business they have no hope or

desire to become good at at least if you

suck at everything pick a business that

one day you may be good at

and finally they go where everyone else

is going if you're listening to people

who tell you to start a specific kind of

business chances are they're telling

thousands of other people to start that

specific kind of business which means

there's going to be a ton of competition

and when there's competition prices get

driven down and it's very difficult to

make any form of profit profits come

from monopolies profit come from when

you're the best or the only option in a

specific space and if you're listening

to someone that's telling you to start a

specific sort of business chances are

there's loads of other people starting

that specific sort of business which

means there's going to be competition

you're not going to make any profit all

right that being said let's get into the

Steps step number one is you need to

write out your story open up a document

Google Docs notes notepad and Pen

whatever write out your story write out

your background write out major life

events that have happened to you write

out the problems that you've had and the

problems that you've solved and write

out the goals that you have and the

goals that you've had and that you have

already solved for example let's dive

into this this was my story that I

created for this video just write out

your background the desires that you had

the problems that you came into what you

did to solve them where you are now

write out a very Google doc just brain

dump your story make it roughly one page

long then what you want to do is solve

for Niche and transformation this is the

golden formula you need to solve for

help Niche to

transformation Define who you help and

Define what transformation you help that

Niche solve this is the magic formula

I've used this so many times it's insane

this is the fundamentals of business who

do you help and what problem do you help

them solve or what transformation do you

help them achieve some examples from my

experience I help people recently out of

a breakup get back on their feet this is

one of the first businesses that I

started I called it breakup to

breakthrough very clear who it's for

people that are recently out of a

breakup very clear what transformation I

helped them achieve get back on their

feet I helped students and professionals

become more productive I helped

professionals beat procrastination that

was the business that generated over a

million dollars for me I helped cons

Consultants at $10,000 a month cons

scale to $30,000 a month this was a

mastermind I started a while ago I

helped Consultants grow on YouTube that

was something I did I helped educational

content creators monetize Their audience

you can see with all of these things the

niche educational content creators and

in reality when I did this it was help

educational content creators with

100,000 plus subscribers see how narrow

that is monetize Their audience

beginners become online synthesizes

beginner start an online business tech

companies scale through influen of

Partnerships so tech companies

transformation is scale through influen

of Partnerships you need to Define these

two things there's zero chance you're

going to make any money unless you know

who you have help and what you help them

solve then what you want to do is you

want to take this prompt and type it

into chat GPT so let's go ahead open up

chap

GPT and

we'll come

here get this prompt paste it in and

I'll read it out it is I'm trying to

find business ideas all good business

ideas help a specific person achieve a

specific transformation business ideas

can be defined by this formula I help

Niche to achieve transformation using my

story attached here please create a list

with a formula of different business

ideas I could do simplify all of the

ideas down to a simple iel Niche to

achieve transformation statement ideally

where you fill in Niche and

transformation are one or two words long

here's my story you get your story you

copy it you put it in here you click

paste click

enter and chat GPT is going to spit out

a bunch of different business ideas that

you can do that's going to resonate with

who you are and that are going to be

clearly defining who you help and what

you help them achieve I help content

creators monetize Their audience that

sounds pretty similar to one of the ones

that I actually did that generated me a

lot of money all of these different I

help businesses grow through YouTube

marketing that was another thing that I

actually did that generated a lot of

money so you'll see this is pretty good

and this is going to help you Define

what it is that you help and who it is

that you

help right that's step three go ahead

and fill out these steps it's worth

doing these things if you're like what

should I do or you're trying to sell

something and people aren't wanting what

you sell start from scratch go through

these steps it will be worth it it will

help you generate an

income step number four define niche and

Transformations for yourself right AI is

pretty good but let's start with doing

it yourself to see if you can come up

with something better than chat gbt

could so you want to list out 10 niches

you understand that's the important part

only start a business in a niche or for

a niche that you understand that's key

then list out three transformation that

each Niche wants or problems that they

have to help you brainstorm what

problems have you solved what goals are

you striving towards what have you spent

the most time learning about so for

example you could write 10 niches you

could write educational YouTubers you

could write Consultants you could write

teachers you could write students you

could write uh people that spend 5 hours

plus per day watching YouTube videos you

can write all of these different things

just write 10 different niches that you

understand and start by thinking like

who am I what niches do I fit under well

I'm a young man that's another Niche I

am a nomad that's another Niche I travel

around the world that's a nomad that's a

niche right list out all of these

different niches that you could possibly

fit under then for each of the different

niches list three Transformations that

each Niche wants or problems that they

have and by the way transformation Niche

it's the same thing you can take a

desire frame it differently and it's a

problem you can take a problem Define it

differently and now it's a desire for

example the consultant example I help

Consultants grow on YouTube that's the

transformation the problem is

Consultants need more customers they

need more people to be aware of who they

are their calendars their sales SCS

aren't full enough so I help Consultants

who don't have enough calls booked on

their calendar that's the problem to

find defitely is the transformation

because in reality all desires are

problems and all problems create a

desire so it's the same thing right go

ahead and do all of those things step

number five now you need to pick one of

these Transformations as your

hypothesis so if we come to this

worksheet

here this is where you're going to want

to write all of the different niches and

all of the different Transformations

that you could help people achieve

Define it all out I'll make it a little

bit bigger so you can see it Define the

niches down here Define the

Transformations down here now if you're

doing three different Transformations

you're going to want to write the niche

out three times and then I help SAS

reduce their churn uh get more customers

and deal with customer support right

those are three Transformations that SAS

companies need help with go ahead and

write all of yours down here all of the

different Transformations down

here once you've done that there's a few

different criteria that you can use to

try and identify which one of these are

best Alex or MOSI net worth of $100

million has these five criteria is this

Niche and pain if there's no pain you're

not going to be able to help them is

this Niche growing over time does this

Niche have money and over time you want

to swim upstream so you want to solve

rich people's problems it's the same

amount of work to solve a poor person's

problem compared to a rich person's

problem but the value created is

different because they value money

differently so over time you want to

solve rich people's problems you want

the niche to be easier to Target and you

want to help people that you can help

the most some examples of this I was

working with reand Doris reand

Doris boom who was a YouTube channel and

he wanted he he's a consultant right he

has a business called flow research

Collective that does like a million a

month and they wanted to start getting

into YouTube uh so he hired me and I

helped him his YouTube channel and we

got him to 300,000 subscribers in just

over a year um but that was one thing I

was doing and I was actively working

hard on this and the results that he got

were insane like 300K Subs this was a

lot of value that I added to him but

whilst I was helping him do this Hamza

another YouTuber came along and he was

trying to figure out how he could

monetize his audience so I sent him one

loom video and that one loom video got

him from $20,000 a month to $100,000 a

month so with ran it took a few months

of my time working full-time to get him

300,000 subscribers which is great but

with Hamer I 10x his income and it only

took me 10 15 minutes in a loom so it's

clear that I was able to help him

achieve massive results in a very short

period of time I could help rean achieve

massive results but it took me quite a

long time so it was clear that I could

help YouTubers monetize far more quickly

than I could help Consultants grow on

YouTube so I could help YouTubers

monetized most so that was where I put

more of my focus

onto I would also add can you imagine

yourself staying in this for the long

run can you imagine yourself becoming

the best in the world at something in

this space time in Market is really

important because that's when you

understand the secrets in the industry

which I'll talk about a little bit more

later on but Charlie Morgan who's a good

friend of mine who makes a million

dollars a month has this full checklist

that he recommends for people going

through this process I've summarized all

of this into these

six different things is this niche in

pain is this Niche growing does this

Niche have money can you help this Niche

do you enjoy the niche do you understand

the niche go out and fill each of these

things from one to five five being the

best and one being the worst and then

it's going to spit out a total which is

weighted depending on which ones of

these I deem to be most important to

your decision it's going to spit out a

number for how effective this business

is how much opportunity there is in this

business then you're going to go through

and it'll help you decide massively when

you just rank all of these different

things so go ahead fill out this

worksheet see which ones are coming out

on top then go ahead and just pick one

at the moment it's just a hypothesis at

the moment we're just testing but you're

going to want to come and pick one that

has a high number and that's where

you're going to start that's the thing

that you're going to focus on to start

with now a you few tips first of all you

want to start Niche I'm sure you've

heard this before but it's important so

I'll reiterate it massive profit comes

when you're the best or only option in

the market it's easiest to do that when

the niche is narrow because this reduces

the competition reasons to start narrow

better marketing because you'll speak

directly to a specific person if you go

and you say I will help you lose weight

that's kind of valuable right but if you

say I will help male 45-year-old CEO in

Wisconsin lose weight now it's a lot

more valuable because you've narrowed in

who you're speaking with and if you put

that message out they in the market the

people that are in that market will

listen far more closely than if you just

say I will help people lose weight

you'll also have a better sales process

because you'll have a better

understanding of the niche and you can

customize your sales process so I can

say you're a 45-year-old male you've

probably got a wife maybe your wife is

respecting you less than before you know

I can get more specific because now

we're targeting a specific person where

if I'm just saying help you lose weight

I can't say your wife respects you less

because now some of the people that I'm

putting the message out there are women

who may have a husband or whatever you

get the point that I'm trying to make

better sales it's it's more obvious if

you're selling to a specific person you

can sell better but also you'll have a

better product if we're talking about

45-year-old males in Wisconsin I can say

go to this gym go to this supermarket

and buy this specific food because I

know where they are and I know you can

say this gym is right next to this

supermarket and also this gym has

protein shakes you can buy so go to this

gym buy the protein shakes better

products it's far more specific a lot of

people say oh this is too specific this

is too narrow you want to go so narrow

that it's uncomfortable and the only way

you get to 10 a th000 customers is to

first get 10 customers so start by

making it as easy as human possible for

yourself start by going as narrow as

humanly possible so much easier get your

first 10 customers with a narrow Niche

start narrow then once you've exhausted

that narrow Niche go broader and broader

again you only get your thousand

customers by starting to get your first

10 and then ramping up so only expand

the niche once you've exhausted the

niche and chances are the niche is far

bigger than you realize and you won't

exhaust the niche at all or if you do

it'll take you 10 years to do so and

when you do exhaust the niche stay as

close as possible to the current Niche

so don't do a complete 180 do a 10%

pivot so if we're helping 45-year-old

males in Wisconsin lose weight now we

help 40-year-old males in Wisconsin lose

weight or now we help 45-year-old males

in a neighboring city or a neighboring

state lose weight go very narrow over

time this is the way that you want to be

doing it Facebook started at Harvard it

got 60% market share in 10 days then it

went to other IV League schools an

adjacent industry dominated that then

they went to other markets always in an

adjacent field have immense focus in

your business you've probably heard this

but like fact check yourself am I

targeting one niche with one

transformation and one product do I have

one business do I have two businesses

some people have like three four

businesses what are you doing it's hard

enough with one just start with one one

Niche one product one transformation

stay focused please a man who catches

two rabbits catches neither Chinese

proverb stay focused stay Niche and

competition is good Google wasn't the

first to Market goo Yahoo had a 75%

market share Yoo 7

Yoo Yoo

who uses

Yahoo They had a 75% market share Google

was just getting started but Google was

better you don't have to be first who

uses Yahoo nowadays it's dead Google was

second and Yahoo was dominating Google

was just better you don't have to be

first you just have to be better look at

where the money is Flowing competition

is good it shows this demand if there's

no competition it's either really good

or it's really bad and normally it's

really bad the internet is reasonably

sophisticated by now there's RAR huge

and obvious opportunities nowadays

like huge opportunities only come when

there's new technology that's when

people haven't realized this opportunity

exists The Internet's been around for a

decent bit of time now it's very

unlikely you're just going to stumble

across something that's easily a huge

company because if it was true then

somebody else would have done it before

you somebody else would have spotted the

opportunity and done it there's now very

rarely huge obvious opportunities what

you want to do is find something that

that is already clearly demand and do it

better better not new you want to pick

something that eventually you can be the

best at when you become the best at

something that's when the huge money

comes to you so yeah don't worry so much

about you uh same but different is the

mentality that you want to go into so

this is a really cool example that I've

seen recently um this is a weight loss

Fitness

product Fitness has been around for a

long time and it's a pretty saturated

market and it's a market where not

really that much changes you need to

move more and you need to eat less you

need to burn more calories than you

consume it's very difficult to stand out

on that market you would think you'd

think everything had been said and

everything had been done you'd think

that it was a fully saturated Market but

Nate Belmar came along with this product

called shreds which is just a fitness

weight loss product but it's packaged

differently it's packaged to do with

anime it's packaged to do with you know

ninjas and Warriors and Japanese

inspired so they just took the same idea

of eat less food and move more but they

packaged it differently and they

generated 80 98,000 in new monthly

recurring Revenue in 12 days like what

like yes this person had an audience but

still it's in the fitness space you'd

think that that's been there and done

but no if you just do it better or you

do the same but different there's still

massive opportunities there's mass of

opportunities for everyone you also

don't want a niche swap so the best

Niche is the one that you stay in the

grass is greener where you water it

that's where you find the secrets so

Peter teal founded PayPal and a bunch of

other stuff he says the best

entrepreneurs know this every great

business is built around a secret that's

hidden from the outside

and the only way you can find the

secrets is if you stay in an industry

for a long period of time that you start

to understand it and you start to learn

the secrets that most people don't

understand that's where the big

businesses come in it's from being in a

market for 5 years for four years for 10

years and then you start to see oh there

is an opportunity that nobody else sees

and the reason I see this opportunity is

cuz I've been around for so

long so don't just flap around and

change niches Willy nilly stick to

something for a decent period of Time

come on please you you you'll thank

yourself massively if you can do that so

view the being a demand thermometer weak

demand strong demand ask yourself how

strong is the demand for what you have

if the answer is weak try to find

resonance within your Niche before

changing niches chances are if you tweak

your messaging if you stay in the niche

for longer if you speak to the market

for more then you'll find the demand

there's demand in every Niche you just

need to find it instead of thinking that

another Niche is better than the niche

that you're in and as well as product

Market fit product Market founder fit is

important this is a marathon not a

Sprint financial Freedom takes a few

years at least so you need to find not

just whether is a product that you can

make that the market once but also

something that you want to do that's how

you stick with something for the long

run product Market founder

fit and also there'll be a point we just

have to pick something it's better to

pick the wrong thing as if there is a

wrong thing then nothing but don't get

it in your mind that it's better to wait

to find the right thing because even if

you pick the wrong thing at least you're

learning at least you're trying

something and it the thing you may think

is the wrong thing could be the right

thing sometimes you just have to try

things happen by accident for example

when I was helping ran and Hamza came

along that was an accident he just sent

me a message being like Oh I I'm I'm

trying to monetize my audience or

whatever and I told them what to do as I

was helping a friend that was an

accident I didn't like brain storm what

Niche should I get into and then that

happened it just happened and I was like

whoa I created a lot of value in a short

period of time and not only that by

helping ham of monetized I told him to

launch a school community and then I

went to school and I was like was it

valuable that I brought hamson to school

they said yes and I said would it be

valuable if I brought more big YouTubers

onto school they said yes and then a

deal was created with school by that

happening two accidents happened I

created value in two areas without even

meaning to that led to two different

businesses forming you won't get it

right the first time don't be afraid to

test and get things wrong finding

problem product Market fit is not a

problem to be solved it's an ongoing

process of testing listening to feedback

and refining it'll never feel perfect

you will always be questioning whether

you're doing the right thing you don't

have to marry it for the rest of your

life I've changed from stoicism to

productivity to business to helping

YouTubers to help Consultants to helping

School I've done so many different

things just pick something action if

you're a beginner this is honestly the

biggest lesson action action action just

take action just do things just test

just try just move just do things that's

the biggest thing so many people just do

nothing it's like what are you doing

what are you doing what do you think's

going to happen if you do nothing just

do something do lots of things just

flail around and try things out you'll

be grateful for it later and finally you

can't create desire you cannot create

desire you can only Channel existing

desire towards you're a little minua

you're a little

little a little something the market out

there and humans are powerful like think

about the billions of humans out there

they want things you can't influence

what humans want humans just want what

humans want you can't influence that

you're not jebus you can't control all

of that sort of stuff stuff the market

decides what's valuable not you if the

market doesn't think your product is

valuable it's not valuable if it's not

valuable it won't make you money Gucci

doesn't create the desire for status it

channels the existing desire for status

onto its product there wasn't an

existing desire for status on their

Market that product wouldn't sell there

is this book it is called breakthrough

advertising I think you can buy it on

eBay for like $300 the summary is this

let's get to the heart of the matter the

power the force the overwhelming urge to

own that makes advertising work comes

from the market itself

and not from the copy meaning not from

the sales not from you copy as in you

know sales in words cannot create desire

for a product it can only take the hopes

dreams fears and desires that already

exists in the market and in the hearts

of millions of people and focus those

already existing desires onto a

particular product this is the

copywriter task not to create this

master desire but to channel and direct

it it's about finding desire then

positioning your product to fulfill

that

desire step number six speak to people

you think you find product Market fit by

thinking in reality you find it by

speaking to people test feedback improve

so action step speak to 30 people if

you're serious about this speak to 30

people in your Niche get calendly it's

free put your calendar Link in all of

your Social bios speak to people always

even if you're selling a product that's

$10

speak to the

market you won't regret it I've

included a doc for copy that you can

just copy and paste and send to

people in order to get them on a phone

call and I've included a script that you

can follow when you get on the phone

with people to figure out what you can

say I've also included 10 more questions

that you need to answer if you want to

truly understand your niche

send this message follow this script

keep speaking with people until you can

answer these 10 questions the goal is to

understand the niche better than this is

such a powerful

sentence if you can understand your

Niche better than anyone else you will

win it will improve your marketing

because you'll know what to say it will

improve your sales cuz you'll know what

to say it'll improve your product cuz

you'll know what to build the person who

wins is the person who understands the

market better than anyone else this is

the Competitive Edge speak to the market

more than everyone else understand what

they want more than everyone else

understand where they're not being

satisfied that's how you will

win and step number seven make notes

look for patterns see where those demand

make a list of their desires fears and

problems until you can really understand

everything about the market about what

they think about when they go to sleep

about what they do in the morning about

what they eat what they drink who they

speak with everything when you

understand thek Market the business

becomes obvious if you can understand

them better than they can understand

themselves this is a trick if you can

articulate somebody's problem better

than they can articulate it themselves

they will automatically assume that you

will know how to solve their problem

even if you don't if you just say to

them very clearly and articulately this

is your problem and they think whoa I've

never heard anybody say it that way but

this guy understands me they will think

well if he understands me this much he

must have been there before he has to

figured out how to solve this problem so

just by understanding them they'll think

that you know how to solve the problem

and chances are you will when you

understand them truly the problem or the

solution will become obvious half of

problem solving is just problem

defining and finally you want to sell

before you build once you've determined

the niche and transformation create a

mockup and then sell don't build a

product create an outline for what the

product will look like present it to

people and they should buy so there's a

dock here that you can fall through

called the mockup method that will

basically walk you through how you can

create a mockup of your product bring it

to the

market and

then if they like what you have then you

build it you don't build something

nobody wants so in the beginning you're

trying to validate two things number one

there's a desire for what you have and

number two you can fulfill the desire

but first test if people will pay you

then test whether you can actually

deliver solve this one first then this

one because there's no point you being

able to fulfill a desire if there is no

desire in the first

place solve both then you can scale so

sell before you can build first

determine of the niche wants the

transformation then determine if you can

deliver the transformation these steps

right here is step by step how you can

find something that people want and when

you find something that people want they

will pay you for that thing if you're

serious about this if you're serious

about achieving Freedom if you're

serious about leaving your 9 to-5

finding a job that you

enjoy this is the process just do it

action action action action action

action action and I'll see you in the

next one