My idea of what you want to focus your business on.

So many of us spend a great deal of time thinking about what business to start and how that business can make money for us. Here is my opinion of what you should focus on and strive for.

First, you want to focus on building a PRODUCT or SERVICE that you can sell. That means if your primary business revenue strategy is making money off of advertising then you are on the wrong track.

Second, you want to make that product or service automatic, in other words, once you've built/designed that product or service you won't have to continually invest more time as your sales increase. An example of this would be an affiliate based website. Once you've built the website you can sell 1 product or a million product and all the sales & shipping is handled by a 3rd party company.

Third, Once you've built that product or service you focus alot on selling/promoting that product.

Last but not least, you want to leverage others to sell that product.

Now I primarily bash affiliate and advertising based revenue models because in that strategy you are making others rich by selling THEIR products. Only use that model if people will absolutely never buy your product or service. An example being facebook.com. No one will ever buy a subscription to facebook.com so they have to use advertising to make money. What you should focus on is creating your OWN product and having others sell it. Now I am not talking about creating some crappy ebook product on how to get rich quick or how to do seo. You want to create a solid product that people will truly need.

Once you've reached a successful plateau in that product or service, don't stop. You should always be looking for that next big product or service that you can create, design, market and sell. Hire others to create, design and sell that product. If your product/service goes bust, don't get discouraged. Try again with a different product, perhaps put that failed business on the side unless its burning tons of cash then in that case, shut it down. Also, don't make excuses as to why you shouldn't start that business. If there are road blocks in your way then simply figure out a way to get around them.

 

It's pretty nice to see someone who thinks the same way I do for a change, nice post! I think you could get people to pay for facebook, people are paying for DigitaPoint around here, think about it!

 

Wow. There's some really good advice here. Thanks for sharing it!