4 steps to cracking the code
Posted on 19/12/2013
One of the things I like to do the most as an evening exercise is to crack small businesses open.
The first step to do this is to choose a product or a service that you want to sell / provide.
Second step will be to find an existing company that makes or sells similar or the same product or service.
Third step involves in researching on how is this business operating and this is when you realise how the magic is done behind the scenes. You start to understand who the drop-shippers are and how to find people who operate in wholesale business buying in bulk.
The fourth step is for you to analyse this business and understand how can you improve specific aspects of the business model – this goes without saying that you need to identify the weak spots and make sure you have a plan on how to fix them.
The initial thing should not take you a lot of time – my small business crack session are two hours long.
Note : It is a lot funnier to do it with a friend or a business partner – two heads is better than one.
Remember two things to sell that you need – client list and product. It’s that simple. Doing this can also help you to become an expert in a certain field that you need to understand quick.