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Which business to choose

Discussion in 'Ideas, Needs, Concept Feedback' started by Bhanu, Sep 4, 2018.

  1. Bhanu
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    Bhanu Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Hi Guys ,
    I am in a dilemma and need little help .
    There two business in front of me I will call them Business A and Business B .
    Business A: Pros and Cons
    Pros :
    1. I am currently doing this business and know about it .
    2. I have product ready to sell.(It is a education related course. I have the course ready)
    3. Competition is less around 4-5 competitors.
    4. I have knowledge about this and a passion too .
    5. I have already spent 2 years in this business though not much success .
    6. There is a genuine need.
    Cons
    1. Despite my effort I just have around 100 customers .They are also using my free service .Not many are going for paid options .
    2. Number of customer is comparatively less . (in hundreds only).So have to sell product at a higher cost.
    3. Reaching my goals with this business looking difficult .

    Business B : Pros and Cons
    Pros:
    1. Huge number of customers.(in lakhs)
    2. Competition is very less. I dont think there is any players here as yet.
    3. There is a need also.
    Cons:
    1. I have never done this before.
    2. Entering this business is difficult ..will be rewarding in future as entry is difficult.
    3. It is not my passion or area where I currently have good knowledge.
    4. As there is scant to no competition I dont know if this will be a great business or a flop.

    Business B can give me fastlane freedom earlier than Business A I think .
    But still in dilemma . Any suggestions ,advice is welcomed .
     
    Jello and BlackMagician like this.
  2. LarsJelle
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    LarsJelle Contributor

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    Business A: Don't offer for free anymore, maybe discount or a trial something.
    Business B: Give it a shot, might work out, might won't.
     
  3. Danny Sullivan
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    Danny Sullivan Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    What problem(s) does A/B solve?
    What value does A/B add to peoples life?
     
    YeZi likes this.
  4. Bhanu
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    Bhanu Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    They both prepare kids for various competitive exams. For Businesses A almost 10k students sit but they are ready to pay higher price for my product. For business B 100000+ students sit in exam but may not pay higher price. Also in business A I haven competition with some quite established names.
     
    Last edited: Sep 4, 2018
  5. Danny Sullivan
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    Danny Sullivan Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Is it common to pay for such a service?

    Is this something like a course on udemy?
     
    Bhanu likes this.
  6. Bhanu
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    Bhanu Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Yes its common to pay for such services. It is similar to a course in udemy but through a different channel.
     
  7. Sebastya
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    Sebastya Bronze Contributor

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    A sounds better but it's hard to tell without looking at both closely.
     
  8. Danny Sullivan
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    Danny Sullivan Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass

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    Is it possible to gather these informations without participating in your course?

    And what makes you think that one course is enough to provide you with "enough" income?
    That's like publishing one book and wondering why it's not taking off. Why not 30, 50, 100, 150?

    Keep on delivering until something hits substantially and then keep digging.
     
    Bhanu likes this.
  9. Nik@16
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    Nik@16 Contributor

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    My cousin from Ivy-league B-school was unable to get into educational content business as it's a hard sell.It happened because there was no market for it and she had no experience doing it. It also require an aspect of personal branding to get successful in these kinds of ventures.
    You should do what you know about better.
     
    Last edited: Sep 5, 2018
    Bhanu likes this.
  10. Bhanu
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    Bhanu Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    "Keep on delivering until something hits substantially and then keep digging."
    this is the best advice my friend ..will Keep on digging ..thanks !!!
     

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