The type of business you need to build.

Don’t get me wrong, I spent the early years of my online business career, failing at making it a career!

I was more like an unprofessional gambler just throwing darts at an unmarked board.

Even back then I heard this lesson that I’ll tell you in a moment, what’s funny is.. I agreed with it back then!

..but I didn’t do it.

I think I was just too caught up in the whirlwind of every idea I have is the ONE!

The lesson is as it has always been, and will always be!

“Enter an industry that has lasted the test of time.”

I’ve built several bad business ideas out to show them the light of day…these were “inventions” that didn’t follow that rule above.

3 Examples:

  1. APP for GPS based sales and deals.
  2. Self-Publishing short story platform for ‘wannabe authors’.
  3. eBooks teaching people things they never asked about!

These are just three examples that I’m not too embarrassed to share right now. Because I know there is a valuable lesson in here.

None of the three examples I just mentioned, followed the rule.

About 4 years ago I put a lot of effort into building a personal loan website, it didn’ttake off at the time, because there was no bank or lender who wanted to partner with our company (it’s not an Australian website – they only wanted to work with locals).

BUT…. here’s the big thing.

The only reason I started building the website was because I know that personal loans are older than the bible!

They are not going away. They never will.

I knew that even if this website didn’t take off at the time, I had already built the asset.

Overtime, it will appreciate. (the older the website, the more love Google and others show it – assuming it’s good quality, etc, etc.).

In 2018 a new partner came along, now things are ticking and that website is making money.

BUT!

If that website had of been something obscure, something there was no proof that anybody wanted in the first place…

…no partner would have came along.

Because there would have been no industry for that partner to be in!

Does that make sense?

You can invent a product line, or invent an industry later.

Facebook wasn’t an invention. It was an improvement on something that already had hundreds of millions of users/fans.

The iPhone wasn’t an invention…the need for it wasn’t invented. There was already a billion mobile phones being used, and adding the internet to them was what everyone wanted.

If you’re starting out in business, I’d suggest making it easier on yourself by creating something that most people already want. Make it better and faster than the competition.

If you have a passion project, or an invention you want to bring to life – give that a shot AFTER you build the more sustainable, easier business. The business where you already know there are thousands of hungry customers.

Would it be easier to sell a hungry person a Hamburger, or a new type of food that you had invented, and the hungry person had never seen before?

Just sell them and the next 1,001 people a Hamburger.

I hope you enjoyed this email – it turned out to be one of my favorites.

Talk soon,

Chris Godfrey

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