Friday, April 3, 2009

Nike Had It Right

Nike's JUST DO IT! ad campaign is probably the best business advice anyone can receive.
  1. Stop complaining about your job.
  2. Stop talking about your great business idea.

Roll up your sleeves and get started! Now is the perfect time to do it. There will always be 100 million excuses not to do something. Forget them all and follow your dreams!

Here's a hard fact:
Your business idea is not original and there is someone else out there right now working on it too. If you don’t beat them to market then you will have a tougher hill to climb.

Contrary to conventional wisdom, now is the best time to start a new business. The giants of the business world are reeling from poor management, worse resource allocation, a terrible economy and changing technology. A smart business person can take full advantage of this weakness and carve away a sizeable chunk of market share if they provide a product/service that will improve on existing paradigms. The strategy is to provide a product / service that will let customers reduce costs as a way to “get your foot in the door.” Once you are there you start the process of up-selling them on everything else.

Now is also the time where everything is cheap. Rents are at a 20 year low, labor is cheap (a client posted a entry-level job on craigslist and within 10 minutes had over 100 applicants!) and every business is looking to cut costs. That means you need to negotiate everything! There is no such thing as a fixed price now. Take full advantage.

Stop talking about it, and just do it. You will thank me for it.

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