If I Started A New Online Business, I'd Do This First
Summary
TLDRDieses 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
🚀 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.
🔍 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.
📉 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.
📜 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.
🤖 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.
🎯 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.
💡 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.
Mindmap
Keywords
💡Produkt-Markt-Fit
💡Skalierung
💡Problemlösung
💡Nische
💡Transformation
💡Monetarisierung
💡KI (Künstliche Intelligenz)
💡Herausforderungen für Anfänger
💡Mockup
💡Aktion
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
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