How To Build Sustainable Business In 2020

You know that feeling when you have an excellent
idea and you thought, let’s just hustle and create this product and sell it immediately.?I
know. I have been there. But this is a sure of how not to start a business. Let me explain to you why. Let’s roll that intro. To build a sustainable business require some
basic research before you can move into product development. This will save you a lot of trouble later. Skipping this part is one of the major reasons
why many companies go out of business even before its first anniversary. When you have an idea for a product, or even
if you don’t, the first thing that you need to do is to determine your niche. There are 3 basic categories of human desires
that your product is going to fall into. These are health, wealth and relationship. Let’s say you are in wealth, you need to go
deeper into the subcategory. So in wealth, your product might address how
to create wealth using online business, real estate, investing and others. But this is not your niche yet. Your niche has to be one step deeper. If you are doing real estate, then your niche
could be, how to flip houses with no money. That’s your niche. When you have determine your niche, it’s time
to find your ideal client. This is the time where you create detailed
profile of your ideal client. For example, if you are selling women shoes,
then your ideal client has to be women, age 20-45, working 9-5 job, has interest in fashion,
busy women, the more detail the better. The client profile is very important because
you need to use this to find out where they are congregating. In everywhere, if you notice, people are congregating
when they have similar interest. Take facebook group for example, there are
groups for literally any hobbies on earth. You can even find group for people who are
interested in hunting bigfoot in the jungle. So find where you ideal client is, join the
conversation and figure out their problem. Then, try to solve the problem for them so
that you become an expert in their eyes. This will help a lot in terms of your credibility
so if you make an offer later, they would not think twice about buying because they
know that you always deliver. When you have been there for quite some time,
you have now understood what are their problems. Now it’s time to package your product in the
form of an offer that solves all of their problems. I’ll give you another example, let’s say that
you sell water cooler. You’ve found out that their problem includes
high pricing, maintenance, filter gets clogged quickly, water is not cool enough, water leaking
and other problems. These are the problems that you can solve
in your cool offer. So now when you are selling water cooler,
you can include offers such as free yearly maintenance, additional filters for $50 more,
3 years warranty, and whatever it is that you can include to solve all of their problems. If you can afford this for free, that’s good
but if not, offer them a premium package that they can pay to solve all of their problems. You need to remember that people don’t pay
money for the product, they pay money to solve their problems. And if you can solve that, they would pay
you well. Now that you know what is your offer, you
need to build a sales funnel that can highlight the amazing offer that you have created. A sales funnel is kinda like having a salesman
working for you 24/7 without asking for a break or a raise. So if you wake up on the wrong side of the
bed and you don’t feel like selling today, you still close the same percentage of client
that day. And that is very powerful. Sales funnel provide all the description and
your offer, including the order bump and the upsell and also a secure way for your client
to send you money. Now that you have a sales funnel ready, it
is time to introduce your funnel to the world. The first group of people that you can show
your funnel to is the facebook group that you joined and helped solved their problems. They will be your early adopters. To accelerate the results, you can also use
ads either in facebook or google. The good thing about these platforms is that
your ads are only going to be shown to those who are already interested in water cooler. So this saves you a lot of advertising money
as compared to the TVs and radios. There you go guys. These are the steps for you to start a sustainable
business. Instead of just focusing on product development,
don’t forget that it is important to recognize the market demand and that it is important
to establish yourself as an expert in the area. That way, you will have a much better time
developing your product, knowing that there are people out there that are willing to purchase
from you. If you find this video useful, please consider
subscribing and turn on the notification bell so this video gets push to more people. Also, don’t forget to leave your comment
below about what do you think I should cover next that will help you to grow your business. I’ll talk to you soon. I wish you all the best in your entrepreneurship
journey. Bye!

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