The Smart Passive Income Online Business and Blogging Podcast
SPI 774: If I Had $1000 and Started Over...
Apr 5, 2024
Exploring how to strategically invest $1000 in an online business, focusing on offline tactics and relationship building. Emphasizing the importance of niche selection, industry analysis, and networking at live events for career advancement and business growth.
13:41
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Quick takeaways
- Focus on serving a specific target audience when starting a business with limited funds, investing in relationships over products.
- Allocate budget towards attending industry events for valuable face-to-face interactions and networking opportunities.
Deep dives
Starting a Business with $1,000
When starting a business with limited funds, the critical focus should not be on investing in software or products, but on identifying and serving a specific target audience. By conducting an audit of personal interests and potential industries, individuals can select a niche to explore further. Using the market map exercise, one can map out places, people of influence, and popular products within the chosen industry. This process helps in determining where to invest time and effort to establish a presence and build relationships in the chosen market.
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