Job gekundigt: welches Business jetzt starten?

0:00So if someone walks up to you in the street and they say, "Alex, what idea should I pursue? I've just quit my job." >> Yeah. Right. [laughter] >> So I would say um business ideas typically come from one of three Ps. So it comes from a pain that you're currently experiencing, a past profession, so the thing that you just quit or some of the jobs that you just quit or a passion. >> So something that you're inherently interested in that you would spend your time doing anyways. uh some skill that you learned while you were in the workforce, which by the way is one of the most proven ways of making money because the economy has already showed you that people are willing to exchange money for that for that specific job. And so, uh in the world of gig economies and solarreneurs, every business can be dismantled into just jobs being done. And all of those jobs can be fractionalized. So, anybody like we look at any business, you've got sales, you've got you've got marketing, you've got customer success, you've got you've got customer support if you want to differentiate that. You've got product, you've got design, you've got web pages. There's, you know, there's so many different components to a business.

0:54You just need to learn one of them >> and then it's like boom, you have a skill that you can trade for money that you don't have anybody else to report to. Um, and then pain is usually I think um in some ways um sometimes one of the biggest drivers. It's like you had an eating allergy and you couldn't find pancakes that dealt with your specific eating allergy and you bet that there's a decent amount of other people with that allergy that also like pancakes.

1:21And so then you make pancakes that that are delicious and amazing that also cater to people with that food allergy and then all of a sudden like you have a business based on pain. >> And why why does that matter? >> The pain part. >> Um I think >> what what leverage and advantage does it give you for the next 5 years? I think that deep knowledge of the prospect is paramount or very important for creating exceptional products and you can either do that by doing a ton and ton of research or by being the prospect. And there's a certain amount of like visceral feel that you'll know like if someone wants to make a nose product for breathing. I have tried every product since I was in eighth grade. So, it's been 20 plus years, 30 whatever, a lot of years um that since then and I've tried everything and so I know the pros and cons of every product that exists on the market and I can tell because and I've done it's not like oh I tried it for a day. It's like I'll try things for a month at a time and so I have so much time exposure to this problem that I have a lot of nuance in my opinion on what's wrong with the solutions so I can formulate a way better hypothesis on how to fix it. And that hypothesis would will be for an investor so much more compelling because you lead with a story as opposed to logic.

2:31>> I met the guy who uh invested in Regal Cinemas which is the probably the biggest chain in the US. Um and it was when it was there was a guy had just one theater and it became now obvious co has disrupted that business but you know for 20 you know years whatever they they crushed and he said it was so weird to say that oh cinemas are going to make a comeback because they'd kind of been on a downturn or something like that during the time that he was making the investment and he said the reason I decided to invest in it was because this guy knew everything about the business down to how much the cost of a kernel of popcorn was. And he just knew it so like the back of his hand that he was like this guy can't fail. he just knows too much about this business to not have it work and so investing in you know making a gazillion dollars and so but I think that that deep understanding and if you look at all of these the passion things you'll have deep understanding because you're spending all of your discretionary time pursuing this passion the pain you have a deep understanding of the of the problem and the prospects going through it because you've experienced it probably for years now the professional one I would say is a bit of a shortcut um because if you're quitting the job because you don't like And then you say, "I'm now going to do this for myself." Well, you're okay.

3:40[laughter] Um, I mean, well, the the one the one proven point about that is that that one is proven to work from an economic perspective. You will be able to make money doing that because you already have made money doing it. These other two are less proven, but sometimes have significantly more upside. >> There you were talking about the breathing example with your nose. It's funny because if you had sat down and said to me, Steve, I've made these like breathing nose strips. Um, they are better. They're 20% more durable. they expand your nostrils by 20%.

4:05>> It is >> multiples less compelling than you telling me that story you just said about being a kid having breathing problems trying to solve this problem for yourself. And it's funny cuz that that story you told versus the sort of rational logical approach or the benefits approach >> is your marketing campaign for the next 5 years on Tik Tok and Instagram. It's I had a problem. I solved it. I tried everything and solved it for myself. There's almost like nothing more compelling and believable. No,

4:30>> we see that in Dragon's Den. We'll be sat there listening to these pictures all day. Then someone will come in and say, "I had ADHD. I tried energy products. They all made me crash. So I went out and solved this problem for myself." And we're on edge cuz >> we almost can't argue with it at that point, you know? >> Yeah. So Basos has this great framework where he talks about missionaries and mercenaries. And so it's kind of like you have the guy who says okay I looked at market trends and this is a growing category and you know I surveyed people and this was the you know the result that came back and so I believe that if we time this product right uh at this point in the market we'll achieve huge you know mass adoption blah blah blah blah and it's like logicing your way through and to be fair some people do you know do make it work but the missionaries the ones that end up making the most money because like they do Sure, for the money because the business has to have some economic engine behind it. But really because they viscerally experienced this problem and don't want anyone else to deal with that problem either. And so like if I were to tell that story like you were saying like when I was in eighth grade was the first year that I I started really noticing I couldn't breathe at night. And so I learned how to fall asleep with my hand on my face like this so that my nostril would so I could fall asleep and my hand would stay because you there's no actually other because you can't hold your because you fall asleep, right? And so if I fall asleep with my hand like this, right? like I like I'm on the couch and I fall asleep like that. It keeps my nostril open and I can fall asleep and it doesn't move. And so that's how I learned how to sleep for years uh before founding like just like simple nasal strips and things like that. But there's tons of problems with with those solutions that exist right now that I won't get into. But um maybe someday I'll make a nasal product.

6:06[laughter] >> I think I mean just pitches. I can tell you if you put if you put every product in front of me that exists right now, I can tell you what's wrong with it because I've tried I've tried literally all of them. Not like I'm pretty obsessive. And so like I've tried all of them. You're >> missing an opportunity here on >> I've tried I've tried the ones from Europe. I've tried the like not just US. Like I've tried I've tried every product that exists on Amazon. I've tried all the ones from foreign countries. Every every fan or follower who sends me a product that is a nasal company that's new. Um I will try the product. I still do. Um, and there has yet there's there's yet to be one that has truly solved it.

6:41>> I mean, you should I mean, [laughter] but I I think in some ways uh so this is actually a really good meta concept here, which is that um if you want to be compelling, a demonstration or a model is always more compelling than anything else. And so me even going through that entire narrative, right, is taking everyone else who's been listening to this on some journey. It's like if you want to make a compelling pitch for a business, it's like we pretty much just kind of went through one. Um, and so that's that's really what it comes down to.

7:14It's like, well, what do I do with my business? It's like create your narrative of why you're even doing this. And if you can explain to somebody why why they should care about this problem or more specifically why you care about this problem. I'll tell you this more investors will like I might be like I don't care about kitchen utensils but this girl certainly does and I'm sure there's other women who do too. And what everyone wants to see is obsession. And unfortunately in like some of the world I know more in the UK than the US now like that kind of perspective of like just being allin obsessed with stuff has almost been like um bastard or like you know been um chastised and I but the people who are obsessed are the ones who change the world at least changed their world and um and I think that so a very close friend of mine um did all the uh Olympic teams um nutrition and supplementation stuff a country overseas. And he said, "You know the difference between champions and everyone else?" And I was like, "What?" He said, "Everyone always looks at them and says, "What do champions have that I don't have?" And he said, "It's they have it backwards."

8:21He said, "It's what do champions not have that I have? It's what do they lack?" And it's an off button. They just don't stop. And so in dealing with the gold medal, he's like, they just never stop. They just can't stop. everything in their life is geared towards one goal. And so finding that thing and they approach everything in their life that way. And I think that that level of obsession around like everything that you touch on a daily basis is required for really getting to where you want to go. Real quick, I'm going to show you the exact 10stage road map from zero to 100 million plus that less than 1% of companies finish. I've now done multiple times. And so I can say with a lot of confidence that these are the stages as headcount increases that you need to get through. And I broke each of these down by eight different functions of the business. What the constraint feels like, like what are the symptoms of it when you're going through it. And then what steps we actually took to graduate.

9:17And we've done this across software, physical products, uh service businesses, brickandmortar, all of this. And it works. And it's my gift to you. It's absolutely free. And so the link's in the description, but you just go acquisition.comromadap. Just enter your info and it'll spit it right back to you. Offer.