1. Select industries with positive trendsWe need to pay attention to population trends, technological trends, and industry trends.
In the future, China's population will age, gather, become single, and have fewer children.
The trend of aging will drive the big health industry, such as medical and pharmaceutical, elderly rehabilitation, health products, elderly products, etc.The trend of clustering will drive the food, drink, and entertainment industries in the core business districts of big cities.The trend of becoming single will lead to smaller product specifications, such as single apartments, small meals, small packaged food, and micro appliances. It will also drive the medical beauty industry, pet industry, as well as online entertainment industries such as gaming and live streaming.
The trend of fewer children will increase the unit price of the education and training industry, as well as the maternal and child industry.
2. Select dispersed industriesBasically, the stronger the standardization in an industry, the higher the concentration, and large companies and brands monopolize the market.
Industries with weaker standardization and stronger personalization tend to be more dispersed.The personalized needs of customers are relatively strong and too scattered, and no single product can meet the needs of all customers, such as catering, clothing, tea, etc.Business is divided into three, six, and nine categories.
Sometimes the difference between people is not in diligence, but in choice.
Poor business with low frequency and low price, and more after-sales service, such as low-end electronic products.Good businesses often have high prices, such as cigarettes, alcohol, tea, education and training, and medical beauty.
High frequency and high price businesses generally have the most intense competition.
You can prioritize high frequency and low price businesses, such as clothing, beauty, and food.Or low-frequency and high priced businesses, such as houses, cars, furniture and appliances, medical equipment.Never do business with low frequency, low price, and high after-sales service.
3. Choose industries with some barriers to entryThe lower the threshold for an industry, the greater the competition and the more difficult it is to make money.
There are also many types of thresholds, including technical thresholds, policy thresholds, information thresholds, funding thresholds, scale thresholds, and so on.
For ordinary people, they should choose industries with information and technology barriers, avoiding capital, scale, and policy barriers.
What is the most profitable business.
Of course, it is a "virtual" product.What is a "virtual product". Tiktok sells classes, video music sells members, and games sell equipment and skins.
This is called "virtual" goods.The characteristic of virtual goods is that there is no production cost. Therefore, there is no inventory or depreciation.
But economic laws are always valid.
If an industry has abundant financial resources, there must be a large number of competitors entering, hoping to seize the market.
The Internet is characterized by zero "production cost", and there is no regional, provincial or regional market.Only the best works can survive. The traffic is highly concentrated towards the top, only the best and best can survive, and the winner takes all.
4. Find your strengthsAnalyze your own strengths, and if you don't have an advantage, learn a skill.
You can also take a look at the strengths of your city and the geographical distribution of the industrial chain.
For example, in Guangzhou, industries such as food and catering, beauty and daily chemical products, clothing and textiles, luggage and leather goods, and jewelry are very strong.In Shenzhen, the electronic 3C ranks first in the country.
5. Look at the competition and choose industries where the average level of competitors is weaker than yoursBe cautious in choosing opponents.
If you are weak, then choose opponents who are even weaker than you.Survive first, then seek development.
Success is very important, even small successes can bring confidence and motivation to people.
If one fails several times in a row from the beginning, their confidence may be undermined and their morale may be eroded.
Doing business is not about how high-tech your products are, but about how weak your competitors are.Carefully choose a suitable battlefield.
6. Find benchmarks to learn from and draw inspiration fromLearn from those who have results.
Learn, imitate, learn from, don't fantasize about it yourself, just copy it.
When we see someone making money, let's go learn from them.What kind of business can you do? You must have seen it before, mainly from your social circle.
There must be people around you who have made money from this business and achieved results.
You can learn from them.The best way is to start working with a mindset of learning to do business.
While receiving salary, observe how the company makes money.
Familiarizing oneself with the business before starting a business can lead to a much higher success rate.
7. Channel is king. Traffic! Traffic! Traffic!Traffic is the lifeblood and the top priority, and bosses should focus 80% of their energy on how to manage traffic.
The boss wants to be a salesperson, not a product person.
Focus on emerging channels and stay away from the core channels of large enterprises.Choose channels that are easy to produce results, do not compensate for shortcomings, do not cover all channels, choose one channel to penetrate thoroughly.
online channels have evolved from traditional eBay and Amazon, to AliExpress, Shopee, and now Shein, Temu, TikTok, and more.
8. Positioning, subdividing, subdividing, and subdividing againIncluding customer group positioning, price positioning, and product positioning.
After selecting the industry, it is also necessary to further segment and subdivide the customer base, starting from a small target customer group.After identifying the target customer group, accurately locate their needs, develop products based on their needs, and position prices.
Who you are depends on who your clients are. How much money you can earn depends on how much money your clients can contribute.
9. Reduce the variety of products and refine themDon't spread large cakes, simplify the quantity and make high-quality products.
Concentrate all resources on one or two products.Always pay attention to inventory and cash flow, do not be overwhelmed by inventory, and cash flow must not be interrupted.For example, when selling clothes and shoes, there will always be broken sizes, returns, and unsold items.
Once the goods cannot be sold, they are considered waste. It's not worth a penny, and instead it will take up your storage fees.
10. Light asset operationDon't touch production, such as opening factories, breeding and planting, opening restaurants, etc.
It requires a lot of investment and has extremely low cost-effectiveness.
Do not invest too much in the early stage, as beginners will definitely make a lot of mistakes when starting. It is important to quickly try and iterate.
Starting a light asset business involves gradually growing your business from a young age.
Don't start with a huge investment and end up losing money.Where you spend your money is very, very important, and opportunity cost is very important.
If you want to do it, do sales. The profit generated by sales is more than ten times that of production.
