Ep. 3 Picking a Product. Making an Entrepreneur 

I think people get really hung up on what product or service to sell in a business.

I know I do.

I'm always trying to come up with something totally new and innovative.

The big problem with this approach is that no one has any idea what it is you're trying to sell.

You end up having to do a double sales pitch. First you have to sell them on a foreign concept. Then you have to sell them on you being the answer to this new problem they didn't even know they had 5 minutes ago.

I see this all the time.

• High end, fancy baby bibs.
• Travel clubs.
• Time shares.
• Annuities.

These are all things you have to sell the idea of before you can sell the actual product.

• Plumbers
• Lawyers
• Accountants
• Mechanics
• Groceries
• Cars
• Houses

These are all things people understand and know when they need them.

The problem with these products is that there are already a bunch of people in these markets. So it's pretty competitive.

The good news is: all those industries have huge potential for being disrupted.

• Why does my business accountant cost me $5k a year?
• Why can I never find the sun dried tomatoes in the grocery store?
• Why do I have to deal with a car salesman to buy a car?

Here's my recommendation: pick a product or service everyone in your chosen industry already understands. Then make it better.

• Give men's haircuts in their homes or on the street with a mobile hair salon.
• Build an entire web site for a business type and sell it to the highest bidder in that market segment.
• Wash cars in place while a person is at dinner.

Innovating old, tired, yet needed services and products will instantly get your business moving.