Do I need to create/manufacture a product?

[cottonbuds]

Hey everyone! I have been researching businesses to start. From a long term perspective, I feel like I almost need to develop a product and manufacture/build (self or outsourced) it to be successful. Wanted to see what peoples thoughts were.

I know people make money by marketing/reselling things from alibaba, selling their services etc but I hardly see such businesses on shark tank or raising venture capital. I can understand that It is all about what you see yourself as. Thoughts?

 

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[Luk391]

Well, that is one of the key principles from MJ's books. Control.

The aim is to build a business which grows without 'you' being the key secret sauce. Once you build the systems in place (code /employees etc.) and the business can continue growing - that is what investors want. Building a brand is also important. You wont have a brand selling other people's stuff.

However, we all need to start somewhere and developing a skill to sell a service is a great first step towards independence and away from the 'script' or the 'slowlane'.

Hope this helps.

 

[jpanarra]

Its not about the product, its about the need and the fact that you can help people with solving a need.

It can be anything from a service to a product. As long you're giving the payoff for the need that the people are willing to put up their dollars for it.

With time and experience you'll start shifting your mindset on how to help people and identifying needs everwhere, it becomes harder to decide which need will be the most profitable as opposed to finding a 'product'