Can I have some advice please about starting out as a consultant?

[TomTrepreneur]

A while back I got a load of great advice here on this forum about selecting the right industry and starting my own business by discovering the needs of business owners in my local area.

I was told that when I do find a problem, to not do any R&D, and not much innovating, but rather sell and repurpose something that already exists.

But when they say repurposing a product, does that mean to take something existing, and recreate my own version of it, or do I resell it just as it is, under the brand that I sourced it from? The main idea is to sell it to a new/under-served market.

And the most important thing is to get traction as quickly as possible, leaving my own innovation and experimenting until later. In the beginning would I be operating as a consultant/sales person, simply connecting people with the right products and services? If so, I wonder why would they bother to buy through me if they could get it themselves?

I’m just trying to map out the right strategy, because after all, I do like the idea of starting out in business by doing nothing more than connecting people with the right solutions, services, even ideas, and from there, develop my own products and services naturally, as and if ever needed.



And the last thing is, I need to find mid-sized businesses that earn less than 1 million, and sell products within the 1000 dollar price bracket. Basically businesses who can afford to pay for solutions, and would be reachable I think. I tried Googling this stuff for my local area, but I can't find anything. How would I go about finding this out, would it be all through word of mouth, I mean, should I start by just joining entrepreneur groups and networking events?


Thanks

 

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[Andy Black]

These won't answer your specific questions, but they're great podcasts:

• www.tropicalmba.com/consulting
• www.tropicalmba.com/services

 

[TomTrepreneur]

These won't answer your specific questions, but they're great podcasts:

• www.tropicalmba.com/consulting
• www.tropicalmba.com/services

Thanks very much, they may be just what I need.

 

[theag]

Sounds like you're all over the place. I don't even understand what you're talking about. You need to focus.

 

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[Lex DeVille]

A while back I got a load of great advice here on this forum about selecting the right industry and starting my own business by discovering the needs of business owners in my local area.

I was told that when I do find a problem, to not do any R&D, and not much innovating, but rather sell and repurpose something that already exists.

But when they say repurposing a product, does that mean to take something existing, and recreate my own version of it, or do I resell it just as it is, under the brand that I sourced it from? The main idea is to sell it to a new/under-served market.

Thanks

Repurposing

From this



to this



My friends just Kickstarted one of these and funded $15k to $20k.
Same core product, but serves a new purpose.​

 

[TomTrepreneur]

Cheers Lex, that's sort of what I imagined repurposing to be like alright, defo not ready for that I'd say.

And that's very true theag, I am definitely fairly lost right now.


I'll tell you the story in short. I learned a few years ago that I should aim for growing industries and begin with discovering peoples needs and wants. I got very tied up on these ideas, and wanted to learn as much as I could about spotting these two things.

In the meantime I did work a small bit as a DJ, and I was and am still pretty good at that, so there is something I have. But that never appealed to me in terms of building a fastlane style of business. I am of course thinking of resorting back to it now, and maybe even searching for a job, because the truth is that all of this wishing and searching with no implementation is just paralyzing me. Getting some bit active with these two will at least get me back into "some" game.

Throughout the last year I then tried a network marketing opportunity followed by an internet marketing system, which deep down I didn't believe in, so nothing happened, but I at least have some knowledge of internet marketing. But in my case, I don't have a clue what I could do with the internet marketing knowledge I have (the fact that I have no hands on experience doesn't help either). I could start promoting myself as a DJ which I am considering now. But with regard to bringing my skills and knowledge to a good industry I have no idea. The purpose of finding a growing industry was something I picked up from the book "How to Get Rich - by Felix Dennis". The idea is to be in something where profits are more guaranteed in the future. Definitely something that I overthought...

So, in a nutshell, my options are probably, 01) stick to the DJing, improve on that, promote myself and see where that takes me, who knows it could lead to info marketing.

02) Get a job somewhere to do with digital marketing, sales or customer service etc... I think this would be great to get myself into action mode, and develop some real hands on skills.

or 03) run around like a headless chicken trying to discover the right/safest/most suitable industry. Option 3 would be fantastic if I had some kind of crystal ball

I mean I know you guys can't make these decisions for me, but if you have any advice at all, that would be great. I mean should I just stick to the things I am good at for now, even though there is no promise of huge financial rewards, and just keep my eyes and ears open for any ways I might be able to help people rather than anxiously pursuing THEE opportunity.

 

[biophase]

I am still confused. What kind of consultant will you be?

 

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[TomTrepreneur]

Sorry for the confusion. Here is the thread this was based on, https://www.thefastlaneforum.com/co...-industry-for-the-fastlane.51542/#post-350212 I sent alexanderkjones a private message because he provided great advice on the forum and seeked additional help for selecting the right industry to pursue for a fastlane business.

The concept Alexander suggested was that after I've chosen an industry (the part I've been stuck on all the time), contact business owners within that industry and learn about their difficulties. Then go about finding and presenting a solution, in the form of selling/repurposing a product, possibly brought from another market (implying that the market I selected is underserved). The reason I mentioned consulting is because it's based on connecting people up with the right solution. It's not like my dream is to be a consultant, I'm just suggesting maybe it would be a way for me to get involved in an industry, and maybe lead on to other things.




I'm trying to determine, which skills to work on, what profession/industry, which pain points of a market to focus on, then give all of my attention to that, even if it takes months to find that out.

Honestly, that's why I think pursuing a job in sales and marketing, or customer service of some kind might be good for me, because I could learn and develop some skills, gain real experience, deal with people, learn about needs, get paid and most importantly find something to focus on. It would be much better than what I am doing now, such as reading over and over. The approach that I was trying to take all along was to analyze industries on the internet, and somehow find growth patterns, profit potential, low competition etc... which is just overwhelming, there are so many different industries it's a paralyzing activity. Which is probably the main reason I joined network marketing. At the time it felt like a great relief to be just handed a business/industry/purpose in a box, just by entering my credit card details.


And so, the main question is, if starting from scratch, with not a single bit of experience, other than the intention to select a target industry, a set of specific skills to develop, a profession to engage in etc... then strategically, can you suggest a way to go about it? In general, I've heard so many different suggestions about how to get into business. Some say follow your passion, your inborn attributes, talents and abilities. Others say it's all about other peoples needs, and nothing to do with your own passion for a particular profession. I'm all for starting with needs, but it's selecting an industry that I am stuck on. There's no way to start thinking about solving problems, developing or selling something if I haven't found an industry to do those things in.


I know copywriting, communication skills, developing ideas etc may all be important skills that I should be developing, but having a particular industry, product, customer in mind when learning these things would make it so much more effective, which all links back to industry selection.

 

[theag]

can you suggest a way to go about it?

I would suggest the way that many of the successful people on this forum took. Build an ecommerce business that will take care of your living cost in a semi-passive way. Pick a big market, select a product, improve it and sell it. You will learn a ton along the way by doing. Once you have your living expenses covered, use your new skills and knowledge to build on and create something bigger.

 

[TomTrepreneur]

I would suggest the way that many of the successful people on this forum took. Build an ecommerce business that will take care of your living cost in a semi-passive way. Pick a big market, select a product, improve it and sell it. You will learn a ton along the way by doing. Once you have your living expenses covered, use your new skills and knowledge to build on and create something bigger.

Great, thanks, I've read a lot of posts on the forum and am in the process of reading Ecom Hell and E-Commerce Get it Right. I will also be going through Biophase's posts as recommended by many. There's a lot there to read, so it's going to be a fairly long term process. Any other suggestions of resources to study? I know there's a section in Ecom Hell about selecting a niche, but if anyone has any extra info on how to do that, then please share.


One other thing. As I've learned, with marketing to an audience online, a general rule of thumb is that you need to have a story to share with your target market in order to connect with them, for example, the reason I have begun selling (whatever it is I choose to sell).


Is it a good idea to just take anything, and start selling it, once there is good demand for it, even if I don't have a background/experience with that product?

 

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[Kung Fu Steve]

Sounds like you're all over the place. I don't even understand what you're talking about. You need to focus.

I am still confused. What kind of consultant will you be?

I am the third person now to say "what the hell are you trying to do?"

You used the word consultant but I'm not sure you know what that word means? I'm only slightly teasing because I'm also very much confused at this whole thread.

Notice what you are getting right now: crappy answers.

The reason you're getting crappy answers is because you're asking crappy questions.

If you want CLEAR answers, you should be asking a CLEAR question.

 

[WAMBST]

I would suggest the way that many of the successful people on this forum took. Build an ecommerce business that will take care of your living cost in a semi-passive way. Pick a big market, select a product, improve it and sell it. You will learn a ton along the way by doing. Once you have your living expenses covered, use your new skills and knowledge to build on and create something bigger.

Hi,

I am a rookie on this forum, and still trying to find my way... There are many huge posts I read and have to read, but sometimes, just three sentences is enough... That's the way I will try to start, before launching an international network... Thanks...

 

[TomTrepreneur]

I am the third person now to say "what the hell are you trying to do?"

You used the word consultant but I'm not sure you know what that word means? I'm only slightly teasing because I'm also very much confused at this whole thread.

Notice what you are getting right now: crappy answers.

The reason you're getting crappy answers is because you're asking crappy questions.

If you want CLEAR answers, you should be asking a CLEAR question.

Cheers Steve, I know, my apologies, it was a fairly tough question. The thing is I was very lost, and I had too many things that I was trying to figure out at once. But nonetheless I am getting on track now. I'm going to go with the ecommerce business idea. Going to learn about finding a niche, then assess what I will need to do in order to get the business started in terms of cost and everything. I'll take it one step at a time though. I was definitely trying to figure our way too many things with my previous question.

As for the meaning of consultancy, I think it's about helping people make product decisions, but never mind ha that was just me trying to determine how to get myself into business in any way possible. That idea is finished with now anyway. Ecommerce it is, I'll focus on that for the next few months, hopefully that will be suitable, I think it will be though.

The main reason for all of these complicated questions was because I was initially trying to find a growing industry (the exact one that I could make the most money), just a total greedy mindset. I think just by getting myself involved in a niche that looks interesting and profitable enough for a reasonable inome things will fall into place. If things go up from there then great, but I have to start somewhere. I'm definitely not going to find a perfect billion dollar entry strategy. I've purchased a book there now anyway that I think will be a great starting point for me. It's called "Finding Niches Made Easy" by Christine Clayfield. There's a ton of stuff in it, not only about finding niches, but certain important skills to develop and so on.


So, the truth is my crappy question got a few really great answers I'm definitely doing a lot better than I was yesterday.

 

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[Kung Fu Steve]

Awesome to hear!

If I may make a suggestion...

Be VERY cautious of the words you use to describe what you're doing.

I'll focus on that for the next few months

Get committed. Don't dabble for a few months and hope it'll work out. This is your business that you intend to sell 3 years from now. You MUST get it to a saleable position within 3 years -- don't just "focus on it for the next few months"

hopefully that will be suitable

Hope? Hope is such a wimpy way to describe this. Conquer this thing! Make it your bitch! Slap the hell out of those labels (on to boxes that you're shipping out).

I think it will be though.

Don't think. Know. Believe in yourself and quit being skeptical. We've sent men to the moon, we've populated the entire planet of Mars with robots, I'm pretty damn sure you can sell a couple of widgets on Amazon... even by mistake.

I think just by getting myself involved in a niche that looks interesting and profitable enough for a reasonable inome things will fall into place.

Need more commitment my friend. Get in and do it. Don't dabble. Don't dabble. Don't dabble.

If you were to call up your girl/guy and say "honey, I love you, I can't wait to see you but I'm only 60% committed to you." They would cut you in your sleep.

You're either fully committed or not at all. Provide more value than all of the others in that market place with better service, faster deliveries, added bonuses, superior products, at a superior price and the money will come.

If things go up from there then great

"I will make them go up. And it will be great. Because I am great."

Fixed that for you.

I do have to say, I'm impressed by you reaching out and trying to do something. Most people are sitting on the couch eating potato chips right now. You're doing something. And I respect you for that.

Next post I'm hoping to see that you have some sample products being shipped to your house and you're trying to set up your Amazon product page.

You have... 1 week. *Sets alarm*

Go.

 

[TomTrepreneur]

Awesome to hear!

If I may make a suggestion...

Be VERY cautious of the words you use to describe what you're doing.



Get committed. Don't dabble for a few months and hope it'll work out. This is your business that you intend to sell 3 years from now. You MUST get it to a saleable position within 3 years -- don't just "focus on it for the next few months"



Hope? Hope is such a wimpy way to describe this. Conquer this thing! Make it your bitch! Slap the hell out of those labels (on to boxes that you're shipping out).



Don't think. Know. Believe in yourself and quit being skeptical. We've sent men to the moon, we've populated the entire planet of Mars with robots, I'm pretty damn sure you can sell a couple of widgets on Amazon... even by mistake.



Need more commitment my friend. Get in and do it. Don't dabble. Don't dabble. Don't dabble.

If you were to call up your girl/guy and say "honey, I love you, I can't wait to see you but I'm only 60% committed to you." They would cut you in your sleep.

You're either fully committed or not at all. Provide more value than all of the others in that market place with better service, faster deliveries, added bonuses, superior products, at a superior price and the money will come.



"I will make them go up. And it will be great. Because I am great."

Fixed that for you.

I do have to say, I'm impressed by you reaching out and trying to do something. Most people are sitting on the couch eating potato chips right now. You're doing something. And I respect you for that.

Next post I'm hoping to see that you have some sample products being shipped to your house and you're trying to set up your Amazon product page.

You have... 1 week. *Sets alarm*

Go.

Thanks Steve. You're right. The main reason I said that about the next few months was that if I can't get this working, then to maybe give up on entrepreneurship altogether, because it may not be for me. I think though the main reason I have those thoughts is because of the frustration of not taking any action from most of the stuff I've learned over the years. But things will probably feel a lot different when I get some skin in the game.


But, OMG a week? I hate to be a bit negative again, but it will probably be a bit longer than that. I don't know enough about what to do yet. Once I find a niche and can make sure I have a good income to keep me going (from DJ gigs maybe), I will then start setting things up, but as of now I wouldn't have enough yet to pay for a website, capture pages, other tools, buy samples etc... Who knows though, because honestly I've no clue how much this will all cost me. That and niche selection is what I'm in the process of learning now.


I blew a lot of money trying the internet marketing system I mentioned, with funnels, Aweber, a blog and other stuff set up. Money was just flying out of my bank account for a while taking barely any action, so I was buying things when I didn't really need them yet. I want to minimize that as much as I can here this time. So, I need to get some kind of a good blueprint in place and a good consistent income before I begin.


Cheers.

 

[Kung Fu Steve]

But, OMG a week? I hate to be a bit negative again, but it will probably be a bit longer than that. I don't know enough about what to do yet. Once I find a niche and can make sure I have a good income to keep me going (from DJ gigs maybe), I will then start setting things up, but as of now I wouldn't have enough yet to pay for a website, capture pages, other tools, buy samples etc... Who knows though, because honestly I've no clue how much this will all cost me. That and niche selection is what I'm in the process of learning now.

6 days, 12 hours left.

I blew a lot of money trying the internet marketing system I mentioned, with funnels, Aweber, a blog and other stuff set up. Money was just flying out of my bank account for a while taking barely any action, so I was buying things when I didn't really need them yet. I want to minimize that as much as I can here this time. So, I need to get some kind of a good blueprint in place and a good consistent income before I begin.
Cheers.

You can't make money unless you have something to sell. Get something to sell.

It's not as difficult as you're making it out to be.

annnnnddd... 6 days, 11 hours, 58 minutes left.

 

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[TomTrepreneur]

Ok then 6 days it is, ha you're quite demanding

Suppose I find a niche in the next couple of days, then, in order to get started should I use drop shipping and/or affiliate marketing? I mean when you say get something to sell, do you mean literally order physical products. Because I honestly have very little money at the moment. And the same goes for a website in order to display the products, wouldn't I need a lot of money to get that set up, or do I just get a crappy thing made up at the start?

I will do my best with this, but I do need to find a low investment starting point.


Sent from my iPhone using Tapatalk

 

[Kung Fu Steve]

It really shouldn't take longer than that. If it does you're overthinking it. Hell, the more experienced guys on the forum I see them set up a new product within a couple of hours -- if they're particularly lazy -- it takes a weekend.

It's not resources that determines our success or failure, it's resourcefulness. Get creative.

Your website is Amazon. Go learn what you need to set up your product on their site. Simple. You don't need anything else at the moment.

You need SOMETHING to sell on there so find something. Order a handful, sell out of them, use that money to fund the next order, sell out of those.

Stop thinking start doing.

6 days, 9 hours 29 minutes.