Coming up with a good idea is easy. You know what's not?
Making it profitable.
Josh and I have both had some pretty fantastic ideas, but it wasn't until we really looked into a few key factors that we realized maybe they weren't so profitable or more so, they weren't something we wanted to invest a lot of our time in.
There are 3 key factors we really mull over whenever a new idea comes to mind. If the idea doesn't fit the criteria we *snip snip* cut. it. out. After all, we only have so many hours in a day and we want to make sure we are using them to build a business and life we love, not one we loathe.
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And donโt forget to tune in for a new episode every Thursday at 7am EST.
Words of Wisdom in This Weekโs Podcast:
- The 3 things you will need to know the answer to before diving into business
- Yea yea, you've got a genius idea, BUT you're going to want to consider this before you enter that market
- Why you need to figure out your ideal customer avatar so you can make some dolla dolla billz
- Put money aside, this is what you really need to consider before turning your idea into a business
- Re-sale value; what niche you likely won't profit off
- The importance of having an “Exit Plan” so you can GTFO if need be
- “Show Us Your Tips” tip of the day and a little Danielle LaPorte wisdom
Resources:
The other (cheekier) half of Screw The Nine To Five + a diehard traveler with our little guy Kai.