Three steps to launch a business: keep costs low so you can pivot, verify there's a paying audience for what you're selling, and actively promote it to get feedback and sales. A concrete example shows what happens when you pick a niche too small.
Chapters
Here's how to start a business in 2023 number one, you want to start with low overhead. The key to success is being lean, at least in the beginning. You need to have flexibility so you can pivot if your plans change. Number two, you need to make sure that there's an audience of buyers that's big enough and can afford what you're selling. If you're trying to sell a $25,000 coaching program on how to knit scarves for women over the age of 50 in Minnesota, good luck, that's not going to happen. Make sure the audience is big enough and and capable of paying the price you have for your product. And number three, get it out to the world. Don't keep your ideas to yourself for any longer. Whether it's creating content, running ads, sending out emails to your email list. Get your product out to the world so people can actually buy your stuff. So if you want to start a business in 2023, keep your overhead low. Make sure the audience is big enough and can buy your stuff. And then get it out there, put it out, test it, and see what the feedback people have for your product is.