April 21, 2017, 08:42 AM
Join Date: Aug 2006
Location: West Palm Beach, FL
Maybe we need a couple of 101 type Biz courses?
Originally Posted by Dien Rice
Great (and valuable) list!
Many people wonder... What can I write about?
The reality is, many people have a lot of kinds of "expertise" to share, which can help other people with their lives or their businesses...
I've bought books in every category above... Except maybe the food/cooking category (I'm not much of a chef)!
However, I was listening to the radio a couple days ago, where they were talking about how every celebrity seems to be coming out with a cookbook... Cookbooks are hot, now, probably because of all those competitive cooking shows that rate through the roof...
Once you have one product, of course, you can build on it... With more products.
Evergreen products can be written once, and sold for years... In some cases, decades.
"How To Win Friends and Influence People" by Dale Carnegie was first published 81 years ago (in 1936), and is still selling strong today. It seems that "How To Win Friends and Influence People" is one of those evergreen topics!
There are different ways to plan how you want to do the business...
1. Create essentially one product, and that's it.
2. Create one product, then expand it into a series, which could also include other products, courses, trainings, consultations, and so on...
3. Create a serial type of publication, where people subscribe and get updates, whether as a newsletter-type of model, or as a membership website type of model...
4. A products plus serial type of publication model... Where you have standalone products, along with a serial product as well...
It's generally cheaper and easier to sell a second item to an existing customer, than to acquire a new customer. So building on your products to sell to your existing customers is perhaps a more solid way to keep expanding your income...
It occurs to me, and my email reflects this, we have a lot of newer players in our forum, and many new to business. I highlighted a typical and generally well known business 'fact'. But we don't see any basic education that proves these things.
I find a general lack of basic business 101 type stuff to be a detriment to many would be Entrepreneurs.
Maybe we should contact Ben Suarez and get permission to post and discuss some of these basics he has in 7 Steps to Freedom II-How to Escape the American Rat Race.
Or we can just do our own version. Business analytics isn't the glam part, but essential to know and understand things like:
Customer Acquisition and Lifetime Value
point of diminishing returns on promotions
accounting and bookkeeping
legal and contracts
Now, I say this knowing and actually teaching the two money making concepts which most want
a business OR
just making some dang money
One doesn't need the first for the latter.