Business Model

by Behzad on Business Model, Sales

Manipulate The Law of Supply and Demand

A great article by Niel Patel

  1. Positioning Yourself as a Rare Commodity
  2. Gain Control Over Supply
    1. Your Schedule
    2. Your Position
  3. Manufacture Demand
    1. Begin with Evangelists
    2. Tell Them What to Share
    3. Plant Seeds
    4. Water the Seeds
    5. Allow the Seeds to Germinate
  4. Never forget Lesson #1

Source: http://www.quicksprout.com/2012/08/16/how-to-manipulate-the-law-of-supply-and-demandand-make-a-lot-more-money/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Quicksprout+%28Quick+Sprout%29

 
by Behzad on Business Model, Marketing, Sales, Uncategorized

Basic Laws of Supply and Demand

Supply and Demand:

P – price
Q – quantity of good
S – supply
D – demand

The four basic laws of supply and demand are:

  • If demand increases and supply remains unchanged, then it leads to higher equilibrium price and higher quantity.
  • If demand decreases and supply remains unchanged, then it leads to lower equilibrium price and lower quantity.
  • If supply increases and demand remains unchanged, then it leads to lower equilibrium price and higher quantity.
  • If supply decreases and demand remains unchanged, then it leads to higher equilibrium price and lower quantity.

Source: http://www.quicksprout.com/2012/08/16/how-to-manipulate-the-law-of-supply-and-demandand-make-a-lot-more-money/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Quicksprout+%28Quick+Sprout%29

 
by Behzad on Business Model, Business Plan, Finance, Human Resource, Marketing, Organization, Sales

15 Things To Know For Your First Startup

A great post from Neil Patel about things to know when starting.

  1. Swing for the fence (Aim High)
  2. Create a simple product (SMPL)
  3. Solve a problem
  4. Know your market’s price tolerance
  5. Advertising is a must
  6. Payments should be easy
  7. Be patient
  8. Premium prices have advantages
    • You appear like an authority
    • You will get fewer complaints
    • You deliver excellent customer service when focusing on a small number of clients
    • You’re reputation grows
  9. Free work can lead to lucrative work (Don’t lower your price)
  10. Never Stop Closing
  11. Eliminate everything else but the essentials (FOCUS)
  12. Always lock into your passion (It’s going to be a long, bumpy road, you might as well enjoy the trip
  13. Hire carefully (Hire Slowly, Fire Fast)
    • Test the waters yourself
    • Develop a process
    • Forget about pay
    • Consider more than talent
  14. Smart people learn from other people’s mistakes
    • Get a mentor
    • Read about business failures
  15. Cash is king
    • Use volunteers and interns
    • Work like a slave
    • Resist a fat salary
    • Don’t buy expensive office furniture
    • Keep the office space at a minimum

Source: http://bit.ly/Ocu6J6

 
by Behzad on Business Model

Multichannel

  • Use all possible resources of income or create them
  • Create multichannel revenue business model

This is no secret, but one should be innovative to see and create a multichannel revenue model.

Omega park has done this perfectly; you buy tickets to get in the park to see the animals. Some of the animals are brought there from animal protection agencies. Volunteers and animal lovers also work there for free. You buy carrots to feed the animals, so that they will come to you and your car to create the Park’s unique attraction. Animals will stay, because there is food in the park. There you buy food/drinks and souvenirs, rent a golf cart to roam around, or get on a balloon for an aerial show.