“If you choose the wrong market, your business is destined to fail before you even begin.” ~~ Ryan Levesque, “Choose: The Single Most Important Decision Before Starting Your Business”
If you’re looking to start a new business and that quote didn’t shake you up, think about it deeply.
Of the millions of people who start their own small business each year, 20 percent fail in their first year and 50 percent fail in their fifth year – according to this article . This is obviously not meant to deter individuals for venturing out to do their own things as that’s a worthy adventure. What this calls for, however, is the need to do the proper legwork and due diligence before deciding what business to start and that’s what Ryan Levesque covers in details in his book – “Choose: The Single Most Important Decision Before Starting Your Business“. The book is valuable especially for those looking to set something up in the education and expertise industry.
“You don’t have to get it perfect. You just have to get it going.”
In the book, Choose, the author lays out the step-by-step process required to getting a business started. Starting from brainstorming business models, markets and then the business ideas. And then factors to account for when picking the right market. The approach proffered in the book is based off the Ask Method which was pioneered by Ryan Levesque. This is a proven methodology which Ryan has iterated after diving into 23 different markets. He has built multiple business and generated over $150 million. Ryan now devotes his time to sharing his secret sauce to other entrepreneurs.
Some key takeaways to help individuals in getting started.
The Product Grid
The business model recommended from the book is the education and expertise area. Under this area there’re four categories which Ryan coined the Product Grid that determines how products/services are made available to customers:
- Product focused: e.g. eBook PDF, Physical book
- Client focused: e.g mastermind, group coaching
- Membership focused: e.g. membership site, online community
- Event focused: bootcamp, live event
What type of entrepreneur are you?
- Mission based: Driven by desire to make profound positive impact
- Passion based: Excited about sharing their interest with the world
- Opportunity based: Motivated by finding and solving problems
- Undecided: unsure about what business to start although would love to start one.
“For any entrepreneur who wants to start or grow a business, Choose eliminates the fear and overwhelm by simplying the process in a way you won’t find anywhere else.” ~~ Hal Elrod #1 best-selling author of The Miracle Morning book series
Stages in starting a new business
- Brainstorm (models, market, ideas)
- Test
- Choose
- Launch
There’re also a number of bonus material supplied along with the book to guide readers through the process of picking a business mode, market and idea. And it doesn’t just end there, the book also provides guides on how to determine the market and competition sweet spots as well as the essentials of a profitable market. And finally, pointers on launching the business – the main event .
So, if you’re looking to explore a business opportunity in the education and expertise sector. And you’re in search of the right resource to get you started, then choose – Choose .
To your successful business launch!!