Complicated Businesses Suck
Since I announced my retirement from teaching the buying & selling websites training class, I’ve been hard at work on my 2 new business ideas.
The two new businesses I’m starting are in the travel market and the toys market, neither of which I have any experience with, but are both proven and profitable markets to get into.
While doing my market research, I decided I needed to find partners who were both smarter than me, and have lots of experience in these markets.
I met with a couple guys yesterday to discuss my business ideas and realized something very important.
The main reason I’ve been so successful in my internet businesses is because I always keep them SIMPLE.
I never realized this until talking with these partners. I basically gave them a rundown of what I wanted to do, which was very simple and straight forward. It took all of 5 minutes to explain the entire business plan to them.
Almost immediately, the guys I was chatting with were throwing out ideas left and right. Each “brilliant idea” was more and more complex and I knew in the back of my mind that:
a) trying to do all of these things would be too overwhelming and probably never get done.
b) these ideas would most likely confuse the customers and result in them not taking action on my offers.
c) would be 3 times as expensive to do and half as profitable as my simple idea.
I didn’t want to tell these potential partners that their ideas sucked because they were so excited about them. Yes, they were sexier ideas than my plain jane version of the business, but 9 out of 10 times it’s the boring businesses that make the most money.
After talking with these guys, I realized that many of the mistakes people make when trying to make money online are because people over complicate things. The easier the business, the more effective you can be at doing the things that actually make money. If you are so caught up in complicated technology or constantly trying to be innovative and cutting edge, you will be stuck in a never ending rat race.
Have you figured this out for yourself yet?