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If you happen to be thinking about starting a business -- got to know the right questions asked where to -- what to do out of putting together in the person who knows how to do that as Tory Johnson she joins us now.
CEO of women for hire.
-- website is sparking -- dot com but I want to talk to you today about.
Entrepreneur oral.
Endeavors you know it's everybody's got a good idea some better than others so what are they did.
So it's a bad idea if you a bad idea and you can execute it well that's okay I mean we buy it lots of stuff that's like not so hot.
But the very first thing that you -- do if you're thinking about the potential of starting a business either something they're doing on the side for supplemental income or something full time.
Is ask why why this because why start this business vs just get a job to make the money and I think the why is really critical I started my business is because I got.
Fired from a job that I loved and that permanent scar from the pink slip that led me to say like Allen never worked for them again -- On the new boss came in -- clean my house yeah.
Knew about component at play in it prints so I get rid of anybody and everybody even though they're really good people -- as an awful.
It but -- in retrospect it was that turn up the good thing for me so but but it's still be out working in our news publicity had not been for that so unfortunate.
On the show.
How do you figure out what's a good idea and what's not so so frankly it's more about -- I sell this idea OK and that's should be your barometer who was gonna buy this exactly so there's a lot of people say like I'm -- making cookies -- making skin care like any any can anyone like -- let's begin to use my skin cream you know not necessarily.
You wanna be really specific are you making you know something high and that's going to be in a dermatologist office are you making some it's gonna go on mass market retail shelves.
Really pinpoint who is going to buy this -- you.
Because once you figure out who's going to buy you can find some of those people and ask them directly would you -- and that's how you know you have a good idea when someone is willing to pay for it in the other thing you you have to -- your competition.
Is there all -- an existing product out there in the marketplace.
-- which I really cannot compete in at least.
Profitably right and but I wouldn't automatically assume that the presence of competition is a bad -- sometimes a lot of competition frankly means that there's a market for what you want it invalidated we can walk into any mall and we see multiple shoe stores multiple clothing stores -- any street there's tons of coffee shops there's.
Banks three banks you know competing banks in the same block and yet they cannot coexist successfully so it matters not think your ideas original but that you can put your spin on -- that you can do a really good job at getting people to buy it.
And price point is that -- is critical race so price makes or breaks in a lot of women make a big mistake of under valuing their time and talent they wanna give getaway day be also nice.
When you give it away you don't have a business and when you charge too much and you out price yourself.
No one's buying it says sometimes for someone who's just starting out it definitely requires examining a competition -- testing the waters a little bit -- you can perfect that pricing.
I think you have to figure out his distribution halfway reach all these people in a mass market place and target them specially in this high tech world.
In which you know -- can target niche is --
That her tiny that's right.
And still so on one hand it's great if you have you know an Internet connection and -- a little tech savvy or you've got hit consumer tech savvy who can help you.
On anyone can start a business because of the wet and it really makes it possible social media really levels the playing field in terms of we can all we all have equal access to reach out to the same what is it 800 million people -- we all have equal access to that so it's a matter of using what you have to get what you want and and recognizing that you know what maybe overnight and I -- start out on wal mart's shelves -- overnight you're gonna start at just selling to people locally in your neighborhood and that's okay you know because it doesn't have to be overnight and there are a lot of people today who frankly would be very happy with -- 30000 dollar business -- 80000 dollar business they're not necessarily looking to start their thirty million dollar business overnight --
The draw comparison because I just had the pleasure the other days -- stand in Oklahoma City and then a brilliant guy in the name of Harold -- And Harold -- found the Bakken oil fields in North Dakota Montana when nobody else was looking near any real so there's no -- there it's now basically.
The biggest -- fields in America except for the Arctic.
And it could if develop properly provide America with potter oil independence from the Middle East.
And this is the most humble man of the world but he had a business idea he had a business plan but the thing I took away from him was.
Perseverance and determination he would not be discovery.
That's important that's essential I think it's so critical to tune out the naysayers.
And so really believing your idea -- this is an idea that keeps you up at night that you think about you know constantly 24/7 and and nothing is going to do you value anybody prepared for rejection you've got to be prepared for people say you're not you've got to be prepared for people -- really if there was oil there it would've been discovered already you you have to be prepared for that and and be willing to.
To tune it out and keep going.
It's so funny everybody else fails and you know especially during the bust of the oil business and Harold -- persevered he knew was there -- confidence in his abilities.
And he made it happen may have been you know a remarkable when that talk to me about your -- and hustle --
Yeah so -- the book which comes out today are canceled the tour traveling the country to put on not a book signing but rather full day conference is to teach people.
How to beat -- Harold had to be the one that doesn't give up and that makes things happen immediately and not by saying you know what you gotta go get a big bank loan you gotta go find an investor that really about how to use what you have to get what you want how to start making progress today and I think that's like.
The coolest thing about entrepreneurship in America the ability to just take control and make things happen immediately for yourself -- I'm jacked up.
Because you're very excited about this and I -- nobody else who's interested in doing a business.
Should read Sporkin hustle and -- following her now you're tour down it toward a lot of successes a lot of success of looking to build more.
Good for you thanks so much thinking and that -- that great pleasure to talk to you.
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