MrG
Contributor
User Power
Value/Post Ratio
87%
- Jan 19, 2015
- 30
- 26
Hi guys,
In my introduction thread I presented 3 business models for which I have all skills at hand to make them work.
Summary:
My current situation:
Now, while all of this happens I would like to explore the potential of business B and C. Here's my main question:
In my introduction thread I presented 3 business models for which I have all skills at hand to make them work.
Summary:
Business A: A productized consulting proposition that covers 5/5 fastlane commandments.
Business B: An injury treatment product (very simple, possibility to create a more sophisticated product line if it works) and a recovery method that covers 3.5/5 fastlane commandements.
Business C: A reseller e-commerce of a curated selection of niche products with great service and support. (competitors carry too much product and do not offer the tools to decide what to pick nor learn how to use them).
Business B: An injury treatment product (very simple, possibility to create a more sophisticated product line if it works) and a recovery method that covers 3.5/5 fastlane commandements.
Business C: A reseller e-commerce of a curated selection of niche products with great service and support. (competitors carry too much product and do not offer the tools to decide what to pick nor learn how to use them).
My current situation:
I am 25, I have a full-time job, a side-hustle that's tied to my hours pulling 1k/month for 4h/week of work, almost 6 figures saved in cash and very little time. I would like to ease into the entrepreneurial life with a commitment of 2-4 hours a day while keeping my job.
For business A I am convinced that it will work, so I will start just providing information on the topic, great content that should eventually go "viral" within industry professionals. Once that content is used as an authority tool in the industry then I would branch out into e-learnings, workshops and consulting platforms.
For business A I am convinced that it will work, so I will start just providing information on the topic, great content that should eventually go "viral" within industry professionals. Once that content is used as an authority tool in the industry then I would branch out into e-learnings, workshops and consulting platforms.
Now, while all of this happens I would like to explore the potential of business B and C. Here's my main question:
As you see, both B & C, need information to have a complete the proposition (that's the part that competitors skip, and that's why they are not doing good money), in the case of B a recovery method/guide and in the case of C a lot of resources in order to pick the right product and know how to use it to its full potential.
Would it make sense to test the waters of the market by creating this content, and promoting 3rd party products (just links or affiliates?), instead of starting with a flashy ecommerce, product stock etc?
Eventually, if the concepts get traction, I could look into reselling or make a step into creating my own product line.
Setting-up a full fledged ecommerce proposition for business C would cost me 2-3 months of work, a full fledged (owned) product proposition for business B around 3-4months of work.
However, building resources (free and paid) and promoting 3rd party products to test the waters might only cost me 1 month for each business.
Would this 1 month investment be a waste of time to your eyes? Would it do any damage to my proposition not going all in from day 1?
Thanks in advance, I would love to hear personal stories that relate to this situation. All advice is welcome!Would it make sense to test the waters of the market by creating this content, and promoting 3rd party products (just links or affiliates?), instead of starting with a flashy ecommerce, product stock etc?
Eventually, if the concepts get traction, I could look into reselling or make a step into creating my own product line.
Setting-up a full fledged ecommerce proposition for business C would cost me 2-3 months of work, a full fledged (owned) product proposition for business B around 3-4months of work.
However, building resources (free and paid) and promoting 3rd party products to test the waters might only cost me 1 month for each business.
Would this 1 month investment be a waste of time to your eyes? Would it do any damage to my proposition not going all in from day 1?
Note:The reason I am not quitting my full-time job yet is because (fear!) my experience 100% relates to the business A idea, with a bit more time on my line of work I can get exponential credibility once I am the face behind my business.
So in the meantime, I would like to start two other side-hustles, that comply with the rules of automation and could generate a nice buffer while I am building my real business in 12-18months time.
So in the meantime, I would like to start two other side-hustles, that comply with the rules of automation and could generate a nice buffer while I am building my real business in 12-18months time.
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