Almost daily, I wake up with many emails from strangers requesting my business consulting service.
The funny part is that they pay me $1500 for 45 minutes for a minor issue they can solve on their own if they spend a little time and thinking effort.
Believe it or not, I get shocked that most people fail at business basics every day, even with all the information and tools available on the internet.
Another thing I get fascinated with is that people fill their minds with ideas and concepts that make no sense in the business world.
Ideas like, to succeed in business, you need a lot of time or work hard, and things will eventually happen to you; what is that supposed to mean? Is that some hocus pocus stuff?
Tell that to an investor, and they would tag you as a business idiot, no offense!
To start and run a small business, you will need enough capital to kick start and promote your business and a working system or strategy that makes your business functional.
Business is building models; if you want to start a profitable blog, there is an existing model.
If you want to create an online store, there is a model for that; you don’t need to reinvent stuff; you need to focus on promoting yourself and better serving your customer, and there are also models for that.
The concept of business has existed for thousands of years; it’s almost the same models and strategies as today but with different tools and ways of making a transaction.
Today, I will teach you how to think like a problem solver and critical thinker instead of a boring business owner or an average entrepreneur.
I will also teach you how to be a skilled thief by stealing other people’s or businesses’ business models and applying them to your business.
After all, let’s be frank here, you don’t want to spend another five years of your life learning about business.
Others probably stole their business models from others. It’s the loop of “others,” and it isn’t a crime, so relax and take it easy.
Business isn’t like writing or art, where you are supposed to think out of the box, in business. If the box works, build a camp inside it!
Let’s see an example of how to break down an existing profitable business and apply the principles to your situation.
I need you to stick with me regarding your business; it doesn’t matter; you can take the approach and apply it to your project.
The goal is to research and reverse engineer how a working and profitable business makes money.
For this exercise, I have picked a small business near where I live. I have no prior experience or knowledge of how this shop operates and generates a transaction.
I have visited the store twice, asked the owner a few questions, then relied on the internet to better understand how it works. I’m going to call this business — business “A”
Business “A” core value:
Business “A” sells artistic and custom-made premium glass products designed by talented artists.
Business “A” only sells one piece per design.
This shop helps individual designers promote and expose their work to the market; it also subsidizes them by selling their products at a premium price.
Business “A” also helps art enthusiasts and small shops such as restaurants to find and buy scarce and unique creative work that customers can’t find in an ordinary glass market.
Business “A” key activities:
Marketing: marketing aims to reach the end customer and generate sales; the business must rely on promotions and word of mouth to attract customers. For marketing and sales activities, business “A” relies on:
Social media promotion and working with art and decor influencers
Google search pay-per-click advertising
Home and decoration magazines
Art and decoration blogs
Word of mouth
Product creation: Product creation aims to develop, source, or manufacture products and services that deliver value to the end customer.
For products creation business, “A” works with two groups of designers:
Group A: they design and create the work themselves. Mostly small pieces of glass products.
Group B: they only deliver design sketches, then business “A” outsource the manufacturing process. Mostly large pieces of decorative art.
Product distribution: Product distribution aims to make the product or service available to the end customer.
For products distribution business, “A” relies on:
Brick and mortar store
Branded website
Etsy online shop
Business “A” overall business model:
For business “A” to create a transaction and generate profit, it has to partner with talented designers and outsource some of its production to manufacturing partners.
Once business “A” produces the products, it relies on working with social media influencers, advertising on the Google search engine, and post articles in decor magazines and related blogs.
Business “A” offers unique products that drive word-of-mouth marketing to its business.
Business “A” relies on the above marketing tactics to generate leads and attract customers to its retail stores and website, besides Etsy’s online shop, where it sells its product and generates revenue.
Now it’s your turn
Research on the internet or visit a store related to your business.
Understand how the business creates a product, promotes its brand, generates revenue, and distributes its product.
You can take that same model and apply it to your business. Don’t reinvent the wheel. I want to leave you with an invitation to my free business course.
Don’t freak out; I will not add you to my email list, re-target you on Facebook or YouTube, or ask you to buy any of my other courses.
I have it on Udemy, especially for that reason, and I have no control over your information, so take full advantage of it, then thank me later.
Check it out here: https://bit.ly/HTBPSB
Please share this article with someone who needs it if you find it valuable.
I would also love to hear about your experience in business and how you plan to boost your business performance in the shortest period. I value your insights!
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