Start from a small business.
Many people miss the trendy opportunities and think that these are difficult to process. They also have a shortage of capital and fear of losing money because it is difficult to recover. If you think that in this AI world, you are required to put thousands of dollars in investment to open a business of any kind. You are wrong. In our AI-driven world, there are many small business types that can be run by a single person but require discovering, researching, imitating, and taking action. Your only need curiosity to find the better idea.
For this reason, your observation must be in place in two directions:
- What you can do for the people
- Why do people worry, and what are their concerns?
For example, you pay attention to niche supply logic, whether skills, knowledge, or physical goods are advantageous, how to monetize people’s weaknesses. Secondly, observe your environment and what are the unsatisfactory conditions that make people fear and missing out.
The cost matters.
Don’t be fooled into investing a thousand when labor is inexpensive due to AI tools. For any business, the labor, rent, and equipment are all the big contributors to the marginal costs of business. The higher the cost, the less you can make in profits. The better idea is to create once and sell it 1000 times. Your observation must be based on opportunities that have diversified demands and low marginal costs.
Research and Research
Many people become the victim of a bubble crash when excited about the idea of a trend. First, collect the information, even if the idea falls in the information gap or the product gap, then take action.
When to Imitate or Innovate
Do you have energy, time, and money? Then select the innovation route. If the demand is high enough, a minimum viable product is enough to make a lot of money. Why create a new product when you can fulfill the demand of people?
Your route to success
The income generation is based on overcoming other people’s obstacles. Try to build bridges for their comfort and clear their roads across their hopes. As long as you keep them feed for their needs, you will have an increased profit.
No comments:
Post a Comment