How do you create a profitable business?

And while there are many answers, there are two basic models that all businesses follow.

The traditional method involves creating a product first and then finding customers to buy it.

As you might have guessed, the second model involves finding customers first and then building a product you know they’ll buy.

Synopsis of article:

  1. Find a customer in the right types of markets
    1. Product type #1 – Physical products:
    2. Product type #2 – Informational products
    3. Product type #3 – Software products
  2. The audience comes first in more ways than one…
    1. Start with demographics:
    2. Continue with psychographics
  3. (Positioning) How you can eliminate your competitors
    1. How to find your position
      1. Step #1 – Identify differentiators:
      2. Step #2 – Identify competitors
      3. Step #3 – Plot your competitors
  4. Kickstart your audience
    1. High growth tactic #1 – Guest-posting
    2. High growth tactic #2 – Paid advertising
  5. How to grow your audience by 5-15% every month
    1. Part #1 – Come up with content ideas
    2. Part #2 – Create a sustainable content schedule
    3. Part #3 – Figure out how you’ll stay in touch
  6. Building products your audience begs you to buy
    1. Option #1 – Pitch product ideas to your list
    2. Option #2 – Survey your readers
    3. Option #3 – Pay attention to comments
  7. Turning readers into buyers

Continue to full article.

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