Business Talk

The Key to Making Money

If there’s one sure way to making money, it’s to be future thinking.

This week, I’ve been following along with e-mails I receive from lots of entrepreneurs whose classes I’ve taken or products I’ve bought. One in particular (I’m hoping he’ll do an interview with BSG), is always upfront about what’s working and what’s not. His latest post was about how much money he made in 2019. He hadn’t done as well in certain areas as he had in 2018. The reason, he pointed out, was because his market is such that it’s low cost to get started in, and just about anyone with a laptop can do it.

Great for the first person who jumps on the bandwagon but what happens when the trend catches on and everyone is doing the same thing?

You have to up your game, produce more, take less money, pay for advertising…all things that eat into your time and bottom line.

While I read his e-mail with interest, it didn’t surprise me one bit. As an author, I’ve been seeing more people self publish, the book market is now saturated to the point where I think that maybe authors might be better off selling their wares on their own sites and promoting the you know what out of them rather than be on platforms where you have to constantly shout at your buyer, hey over here, you’ll really like my stuff and prices.

As entrepreneurs we have to keep ahead of the game. What’s the next big thing on the horizon? Is it something you can do before everyone else catches on that it’s the perfect way to make money?

This week give it some thought. Is there a product you could produce, a service to solve a problem, an app you could create (more about app creation coming up soon!), even a gap in a certain market that no one’s thought about yet.

What’s the world going to look like in 2030? What are people going to need or want the most over the next ten years. Don’t just think about what they need this year, that’ s lazy thinking and leads to the same trap.

Brainstorm and see what you come up.

Talk again soon and remember to live the life you love.

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