Ganglion
Contributor
Hey everyone
I'm looking to change my business model, and I wonder if I could ask you your opinion.
For more than 10 years I've been in a niche that's blazing a new trail, with no competitors, and I've managed to only earn enough to pay the bills and save up some change.
Now I'm looking to change up my business model, and go into a completely different niche, one where I will have competitors I can model and learn from.
My question is, when starting out, should I model what's working? Or should I innovate right out the gate?
I was all ready to start innovating, until I came across Russel Brunson's funnel hacking content, and it made sense to me: when you're starting out, find someone successful and model (a euphemism for "copy") what they're doing. Once you've got the cashflow, with your bills paid for, THEN you can look into throwing money into innovating and blazing a new trail.
My only gripe with Russel Brunson's funnel hacking, is that I'm not really providing any value to anybody. I'm just using working sales tactics to convince people to buy my sh**t. I'll do my best to make sure my sh**t is as helpful to my customers as possible, but the focus will be on the sales funnel doing the selling, rather than on having a great product that my customers rave to their friends about.
It just seems compelling that if I can find a successful competitor who is already making money, I can simply "model" their ads, throw a similar line of products in there, and I'll be making some decent money, with which I can later start to innovate and blaze a trail.
If I innovate and blaze a trail from the get-go, it would require more of an upfront investment, more time spent on research, and will involve more risk. But I do understand that through innovation, the potential for long-term growth and success are much greater.
Thanks in advance for your input
I'm looking to change my business model, and I wonder if I could ask you your opinion.
For more than 10 years I've been in a niche that's blazing a new trail, with no competitors, and I've managed to only earn enough to pay the bills and save up some change.
Now I'm looking to change up my business model, and go into a completely different niche, one where I will have competitors I can model and learn from.
My question is, when starting out, should I model what's working? Or should I innovate right out the gate?
I was all ready to start innovating, until I came across Russel Brunson's funnel hacking content, and it made sense to me: when you're starting out, find someone successful and model (a euphemism for "copy") what they're doing. Once you've got the cashflow, with your bills paid for, THEN you can look into throwing money into innovating and blazing a new trail.
My only gripe with Russel Brunson's funnel hacking, is that I'm not really providing any value to anybody. I'm just using working sales tactics to convince people to buy my sh**t. I'll do my best to make sure my sh**t is as helpful to my customers as possible, but the focus will be on the sales funnel doing the selling, rather than on having a great product that my customers rave to their friends about.
It just seems compelling that if I can find a successful competitor who is already making money, I can simply "model" their ads, throw a similar line of products in there, and I'll be making some decent money, with which I can later start to innovate and blaze a trail.
If I innovate and blaze a trail from the get-go, it would require more of an upfront investment, more time spent on research, and will involve more risk. But I do understand that through innovation, the potential for long-term growth and success are much greater.
Thanks in advance for your input
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