Have you ever had the “curse” of becoming a businessman?
Everywhere are thoughts! Ideas!
The books, CDs, colloquiums, interviews, mind groups and your coach have come to you.
You can only learn to deal effectively with your thoughts.
How do I choose what is the most feasible design or project for me? Today I am going to share my selection criteria for my personal project. I hope it’s helpful to you!
1. How much return would you expect on investment?
In any project that I want to work on, I will have to spend time and resources. It is all worth it at the end, I want to know. I want to know.
2. How fast can you take it from the ground?
I don’t want to spend too much time on it unless it’s a project with a big investment return. For instance, my book took me two years to write and in a few weeks, it finally comes out. It began as a series of newsletters and papers. I hired a ghost writer – a former reporter for the New York Times – to collect and edit it. (The biggest error, of course! He “strapped” my voice book, and I had to bring my voice into it another six months!)
The time commitment, however, was worth it here as it is a highly satisfying project, which lasts several years for me.
Most projects take up to 30 days to build or implement several of my popular projects. Sometimes before I leave my job (HINT: a joint venture!), I spend a day in a project that produces as much revenue as my first year salary).
3. Does the leverage and purposes have any effect?
“Get the most out of what you have” When I was still creating full-blown web pages for $200-$300, I learned the hard way. It’s productive I like to feel. I can always say I “kill two birds with a single pillar” is a representation of a wonderful project for me!
4. You have a “backend” product for it, or can you grow it?
It’s a huge point – be careful! Often I come up with a “bright, shiny thing” concept. It sounds amazing and interesting, but it’s a product that’s stand-alone. I have nothing else for the same group of people to sell.
The purchaser needs a lot, so I want to be able to give them something else if they purchase one product. (This is why the words ‘product funnel’ are still heard in marketing.) It may be wise to discontinue this project, unless you have or can find a way to create a second product or programme.
5. How many resources (people, studies, tools) do you need to do this?
Often I find I have to collaborate with another person to work efficiently on a project. Or maybe I need to spend time researching, or money on new software or equipment. I shall do that only if I know that the project will bring important results to my market and business. Trivial goods have a trivial income.
6. Can the problem be solved? 6.
The best use of your time is not to create a product or software that is too tightened or solves a very general problem. In addition to your not generating income, you will also spend precious time and energy on a more critical and precious project.
7. Are your clients going to produce revenues?
This does not actually refer to life trainers, but is an important argument for businessmen, managers and professional trainers! Whenever you can build something that generates money, it is a gainful project, not only for your customers but also for your customers. In other words, build something that can be used by your customers to raise profits.
8. What is the customer base’s potential size and can you meet it easily?
I really want to know that my product or software is waiting for a large audience, and that I can easily access it quickly and easily. You cannot create a strategic partnership with organisations who already have a mailing list of the people you try to meet. It does not have to be your own database.
Many businesses would like to sell their consumer database something, but don’t really know how or how to improve it.
9. Will it take off and work on its own when it is started? 9.
I’m always developing new ideas, so I have to know I don’t have to “babysit” any particular product. If it fits into my “funnel,” my other goods and services would automatically support it. Otherwise, I could set up a pay-per-click ad on Google that generates traffic. Anyway after the first launch, I want my products self-marketed.
10. How consistent is this with your message as a whole?
In my message, a project must fit in. “The Apprentice,” for instance, is fun to see on television, but for me a product about how to become Donald Trump’s next apprentice will be contradictory. It’s not my idea of a wonderful lifestyle to have to work horrible hours, get up and listen to Donald Trump’s orders. However, it might be anyone else:)
11. You’re passionate enough to build a strong marketing campaign? 11.
It just doesn’t make sense to produce a product and not take the time to create a successful marketing campaign. Before I design my goods, I still plan marketing. I will also create a website several times before I start working on the project. I can cancel the project entirely if I am stuck and am not motivated to create the website.
12. Is it going to motivate you to achieve your long-term objectives more quickly?
For the next 12 months, I have a few really clear goals. It would be a huge diversion and sabotage for my progress if a project does not get me closer to my goals. Of course, a project does not meet these parameters often, but feels I can’t. I’m sitting and contemplating how excited I am and how to proceed.
So you got it there!
Have you your own requirements list to choose the right project?
Look at what you have on your plate right now and ask yourself:
– The highest wage is where?
– Which project would take the least time and generate the highest income in my business?
– What’s my greatest thrill right now?
– What are my objectives for 12 months?
Many entrepreneurs choose to take a different approach, when the best thing is to pick and concentrate on your “biggest payout idea” before you do!