#27 Seven questions to ask yourself before jumping into a new business strategy
Silent Sales Machine Radio
Jim Cockrum
4.8 • 805 Ratings
🗓️ 16 January 2017
⏱️ 16 minutes
🧾️ Download transcript
Summary
Do you ever feel like there are more opportunities and good business ideas out there than you even have time to investigate? I can help! After helping thousands of entrepreneurs and online business building warriors like you since 2002 we've detected some patterns on how and why many of us wind up on dead ends. Many of us leap before we ask the most important basic questions about all those "good ideas" we run into. Today I have seven basic questions for you - ask them all before you leap!
As always - show notes are at SilentJim.com/podcast
- Is this a good fit for your current budget, schedule, talents, experience and connections?
- Will you be creatively serving others if you pursue this model? Is it something you’ll be proud to associate with?
- Does my spouse or the people who know me best think it’s a good fit for me?
- Are there others doing well with this model that I can follow? What’s their success rate? Are they available to answer questions and help me?
- Are there major trends or outside forces that make this a good/bad idea?
- Can it be expanded, automated or lead to other bigger and better income streams as it grows?
- Is the opportunity cost unrealistic? In other words, What do I have to give up to pursue this?
Transcript
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| 0:00.0 | Hey, Jim here. Welcome back to another episode of Silent Sales Machine Radio. And one of the things I want to talk about today is the number of opportunities, the sheer number of opportunities that are out there in front of us. As especially internet-based entrepreneurs, it seems like new business ideas are hitting us in the face multiple times daily in some cases. |
| 0:23.0 | So after you've thought through these ideas and prayerfully considered them maybe and mulled over the facts a little bit, |
| 0:31.3 | well, how do you decide which ones you should pursue and which ones you should abandon? |
| 0:35.8 | I want to spend a little bit of time today going |
| 0:37.7 | through a great list of questions that I think you'll find pretty helpful. So stick with me on |
| 0:42.4 | this episode. It's not a long one. I think you're really going to like it. Let's jump right |
| 0:47.2 | into today's content. Let me know what you think. I've got a list of questions that I'm going to go through with you, and these are questions |
| 0:56.9 | that you should ask yourself before you get into a new business venture. Now, there's not |
| 1:03.6 | necessarily a right or wrong answer to these questions, but they will help you to be in the |
| 1:09.0 | proper state of mind to make a really good decision. |
| 1:12.8 | One of the great things about the day and age we live in is also one of the negatives, |
| 1:18.2 | and that is we are bombarded with what seems like good ideas and opportunities, |
| 1:24.4 | especially those of us who are online entrepreneurs. |
| 1:27.1 | I don't know if you're like me, |
| 1:28.2 | but I find myself oftentimes either having trouble going to sleep or waking up in the middle of the |
| 1:32.9 | night or even waking up in the morning with more ideas than I can ever possibly implement. |
| 1:37.5 | And then I spend my day pushing back those distractions of good ideas that keep me from doing |
| 1:43.1 | the work that I know I need to do, being focused |
| 1:45.6 | on what I know needs to happen. Does that sound familiar? If that sounds familiar at all, I think |
| 1:50.7 | you're going to really like today's brief show. Now, I won't spend a whole lot of time on this topic, |
| 1:55.6 | but we need to know the difference between good ideas and right ideas. Those of us who are successful online |
| 2:02.4 | entrepreneurs, even at any level at all, we've had some success distinguishing the difference |
... |
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