Getting the money for value provided, while remaining competitive, keeping low overhead, and consistently delivering what your clients or customers want and need. That is the foundation of good business, and right now I am thinking of the needs at which I am playing my entrepreneurial game.
Existing and artificial markets
Existing markets are proven to deliver customer base, but artificial ones have higher chances of attracting business. Artificial markets are made as derivatives of already existing niche markets or created out of communities gathered around the topic or interest. Artificial markets are always more competitive business model, as they allow you to create so called “legal monopoly” as you have means to satisfy the artificial marketing made need, putting you into the category of only supplier.
Doing your own thinking, once again
This the main thought of my upcoming book: “7 Steps To Alpha Efficiency”, figuring out stuff for yourself. This idea of figuring out your own money making idea is critical for securing your stability and financial security, finding the loop holes (referring to legal ones) in the system, that when they are exploited, will deliver value to you and your customers!
The era of psychological needs
Beside the basic needs, we understand that things people desire the most are completely unrelated to the physical product! The assumption proves real once we realize how much people are paying for digital products, like ebooks, music and movies. People have the need and desire for digital products that will better their lives and entertain them, and they are willing to pay a lot of money for satisfying those needs!
Untapped markets hidden within the collective mind
Knowing and breathing the needs of people is putting you in the drivers seat of 21st century entrepreneurialism! In order to fully comprehend digital opportunities, you need healthy dose of empathy! Without empathy, and comprehension of human desires, there is no effective way of conveying your product!
For the first time in history of human kind, we can gain access into the mind of our clients, and gain access to the things that people are actually looking for. Marketers of tomorrow will have to know how to empathize with their prospects if they ever want to have the chance of selling anything. Because if you don’t, your competition will, and they will devour you. Can you afford the risk of being the late mover?