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Why This ‘unrealistic’ Business Model Will Fail Today

It’s hard to keep your focus when everyone is telling you you are not good enough.  When you feel like you’re being judged, this can drive you to work harder than ever.  But if you let all the bullshit get to you, you will end up in the same state of mind as the rest of the 99%.

In an attempt to be as realistic as possible, I’m listing out some reasons why business models that do not follow the Law of One model will fail today: the customer doesn’t like the idea .  There is a lack of trust in the product (which can’t be resolved via criticism because anyone could be wrong at anytime).  The product is not yet proven to work.  There is no market.  People will buy or not buy based on their own perceptions.  There is a lack of accountability and transparency.  No one knows if the business is viable or how much it is actually costing to operate. I believe that no business will last if it ignores all these points of failure. In this video I am going to discuss the 3 main reasons why a business based on the Law of One model will fail today: Trust:  Most business owners don’t have an open dialogue about their business.  People see the website, read the title, but have no way to actually do anything to become a customer or be a business owner. They have no idea how to tell if an “opportunity” is actually worth pursuing. The idea:  People are interested in “things” and that is great.  However, they tend to value things much more than people who aren’t interested in “things”.

The reason why “thing” business doesn’t work: People don’t know enough about something to value it. People will never have an answer on the “what’s the market like” question because they don’t know enough to create value even after they are given that answer. And, most importantly, people who don’t value an idea won’t be interested in learning about it.  That means that an idea that has no market is not worth anything. So what does this mean for you?  If you have an idea for a business that works, you should invest your money and your time in developing your business plan.  This is how you can establish value without having the money or time to develop your business. It also keeps your vision of how to actually run your business.  The goal is to have something that can get you paid if it goes viral.  If you don’t have a product, you aren’t going to make significant revenue with a business plan. Now people will think that because every business will fail, this is okay because the idea is “unrealistic”.  But that isn’t the way a real company works.  A business should have an exit strategy that has a positive ROI .  A business with an exit strategy like this will do well in a recession, and will survive a bust. You can develop your business plans at no cost as long as you are serious about it.  If you just want to get an idea on how to run your business, you will need to spend money to develop it.  But, as long as you are serious about your idea, you could do it without spending any money. If any of you have any questions or ideas on what to do with your business, please feel free to email me. I’m also going to start a book club called  “Business Ideas and Business Failure” with my business partner Scott McElroy .  This book club will feature business plans from other entrepreneurs, and will provide you with helpful information about how to handle any business related issue.  You can join here: www.businessideasandfailure.com There are many great ideas I didn’t even get to mention today because I don’t have the time to list them all.  Maybe I’ll add some of the ones that catch my eye next time.