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What opportunities are 90% to 99+% success rate with low steady return? 50% with medium return?

ZCP

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Would you advise this plan to get experts in the chosen industry to get up to speed, and professional mentor(scores, and small business consultants) that are trained to developing entrepreneurs as they are doing business?
Would the thing to do is getting a free government business mentor(scores.org), effective and affordable small business coaches, talking to experts in my chosen industry while I engage in business?
With the answers to these two questions, would you then get started DOING it?
 
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Kung Fu Steve

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I couldn't find the original article I read but here's a similar one on CNN:

 

DavidL41

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With the answers to these two questions, would you then get started DOING it?
I have started a business before that was profitable. It ended up being basically a job that I created, not an organization I was building and leading. I am looking at what type of training/development and approach to take to get that extra edge.

For example, when playing sports having a big enough competitive edge (strategy and performance) allows for one team to excel and the other to falter. I am looking at developing better strategy, better company building, and execution to have better odds in excelling in the market. What is the approach in the next venture? Hire someone to improve the processes in the business, a former industry expert, a coach to develop my strategic ability?
 
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Flint

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I have started a business before that was profitable. It ended up being basically a job that I created, not an organization I was building and leading. I am looking at what type of training/development and approach to take to get that extra edge.
Show us your CENTS assessment of that business... and you'll get your answer.

Follow the graph that @ZCP posted, close the feedback loop and learn your lessons.

Don't be a sniper looking for a silver bullet and that one perfect shot.
 
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ZCP

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Now we are getting somewhere!

Your outcome is to build a business not a job. A system / machine that functions on its own.
You did it before. Now you want to do it smarter. Use your brain / advice to create a better machine.


Yes. Hire experts, read, take advice from all of us on here working to do the same exact thing. Keep doing it while you work to get your business 1% better every single day.

Keep creating / working / finding / buying / selling businesses as you work to create the perfect biz.
We have a running joke in one of my mastermind groups that 'our next business will be amazing!'.

-------------------
Have a stack of books and several thoughts for you. Please clarify that the words in bold above are your desired outcome.
 

DavidL41

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Show us your CENTS assessment of that business... and you'll get your answer.

Follow the graph that @ZCP posted, close the feedback loop and learn your lessons.

Don't be a sniper looking for a silver bullet and that one perfect shot.
Honestly, that type of feedback loop is the thing that left the strategist role and company role empty too often. I was a performer looks to just push my own performance, and other's performance, not the businesses overall performance. What I needed was to be the strategist, and company builder. Delegating (and monitor results) to competent people.

The mindless iterating, and pivoting seems to work optimally for tech startups who rely on pure luck. Personally, in most other scenarios it makes sense to stick to the proven company building, leading the strategy, and delegating specialized work. Optimizing the business model, optimize the strategy, delegate to the chain of command, implement strategy to achieve the highest results.
 

DavidL41

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Now we are getting somewhere!

Your outcome is to build a business not a job. A system / machine that functions on its own.
You did it before. Now you want to do it smarter. Use your brain / advice to create a better machine.


Yes. Hire experts, read, take advice from all of us on here working to do the same exact thing. Keep doing it while you work to get your business 1% better every single day.

Keep creating / working / finding / buying / selling businesses as you work to create the perfect biz.
We have a running joke in one of my mastermind groups that 'our next business will be amazing!'.

-------------------
Have a stack of books and several thoughts for you. Please clarify that the words in bold above are your desired outcome.



My current understanding of business is effective strategic management(ceo), a well optimized business organization(coo) when done right is able to create and optimize a highly compelling and valuable value proposition for the target audience, and therefore customer high customer satisfaction, and profit & growth(if the business is optimized properly).


I truly believe I can execute the marketing, sales, operations average or slightly above average but consistent. Where I can have an advantage is I can manage a more accurate and optimized strategy, and more optimized business model. Given that I choose a not very competitive industry I am above average in.

In a nutshell, more in depth knowledge, superior accuracy, and superior optimization of business model & strategy, but slightly above average, yet consistent execution to create a higher enough than average value and compelling proposition to excel and grow. Then grow to the point of scale. That at least is my personal concept.
 
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Flint

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Sure! Sounds good... so what are you going to do with it?

@DavidL41 what are your next three specific actions to achieve your goal?

what WILL get done this week?

What have you tried ? What failed ? what worked ? What are the next ACTIONS you'll do to get where you want to be ? and obviously, WHEN are you actually going to execute them ?

Show us your CENTS assessment of that business... and you'll get your answer.

Have a stack of books and several thoughts for you. Please clarify that the words in bold above are your desired outcome.

@DavidL41 do any of these deserve an answer? Why?
 

ZCP

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@Flint he is not looking for particular help. he is just talking out loud. he'll get there eventually when he gets started.

my replies were for those coming behind looking to take the next steps. hopefully there are enough bread crumbs to follow!
 

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There are businesses and assets that are 99% to 99.99% going to get you to break even and return an investment. Real estate is typically this way, right
I haven’t read the rest of this thread yet but it’s clearly written by someone that has never invested in anything before. Lol
 
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biophase

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So far, my approach is do everything ultra lean and validate.

So far your approach is to spew ridiculous numbers backed up by anecdotes and misguided perceptions. When you do something like this all your credibility goes out the window.

I don’t believe that you’ve run a business before based on what you’ve written. At best you were self employed and had a 1 person service business.

When I was in the corporate world I had a few coworkers like you. They got their MBAs from top tier schools and would tell me every day theoretically how to run a business. They’d go on and on about how they would start this and that. I listened to it daily and guess what, they are both still employees today. That was 20 years ago.
 

SteveO

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Most of the people you are arguing with here have successful businesses. Perhaps you don't know that as we just appear to be random people on the internet. You are certainly able to do things however you wish but these people attempting to help you are worthy of listening to.

There is an entire subset of people that are busting their asses on this forum. Many of them are working together and getting help from others where they need it. Many also know what each other are doing, where they are in their progress and where they are going.

To get real help, you need to be moving forward with something and showing honest effort. It does not seem to me that you really want help though with the constant responses telling everyone you are right and they are wrong.

I honestly don't know why anyone is still trying to help.
 

Andy Black

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