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Introduction
This article is a summary of a talk given by Stan Leloup, the creator of Marketing Mania. Today, he is France's best-known marketing trainer, with 300,000 subscribers and over 13 million views on YouTub . To succeed in the business world, it's essential to find a business idea that meets customers' needs and differentiates itself from existing offerings. In this article, we present a structured approach to identifying profitable ideas and implementing them successfully, especially for small business owners.
Here's an overview of what we'll be covering in this publication:
1. Understand your company's raison d'être
2. Identify the problems to be solved
3. The idea pyramid: a structured method
4. Stand out in a saturated market
5. Choosing the right marketing channel
6. Building an irresistible offer
7. The power of express validation
8. Mistakes to avoid
9. Implementing the idea pyramid
10. Success stories
11. Practical advice for VSE managers
Understanding your company's raison d'être
Most novice entrepreneurs think their main goal is to quit their job or get rich. However, the real purpose of a business is to solve problems for its customers. If you can't deliver value, you'll have no customers, and therefore no money. Money is a result of the value you bring. As Stan Leloup says, "Money is a consequence, not a goal."
Identify the problems to be solved
Problems are everywhere: earning money, finding love, losing weight, securing your children's future, earning the respect of those around you, having more energy. These problems are not new, but what is new is the solution you propose. Successful companies often solve problems in three main categories: money (online business, investment, real estate), productivity (career), and love or health (seduction, cosmetics, weight loss).
The pyramid of ideas: a structured method
To find a profitable business idea, it's useful to follow a structured method, such as the "idea pyramid". This method consists of four levels:
- Radical transformation: Identify the problem you're solving and the type of person you're solving it for. For example, if you're targeting young moms, understand their specific needs and how your solution can help them.
- Compelling offer: Determine how you're better or different and why customers should trust you. For example, offer a satisfaction guarantee or testimonials from satisfied customers.
- Trinity: Find out where your future customers are and how to capture their attention. Use tools like Google Trends to identify trends and platforms where your target audience is active.
- Express validation: Identify your company's riskiest hypothesis and test it quickly. For example, create a capture page for a free webinar or offer a seminar in relevant Facebook groups.
Stand out in a saturated market
Even in saturated markets, it's possible to differentiate yourself. You can do this by targeting a specific customer, solving a more precise problem, or using a different product or content format. For example, instead of selling a generic course on weight loss, offer a specific course for young mothers. You can also differentiate yourself through your personality or unique story.
Related content: The Customer Alignment Matrix to Boost Your Performance and Find Your Niche
Choosing the right marketing channel
It's essential to choose the right channel to reach your customers. If your competitors are on Instagram, consider creating YouTube videos or direct prospecting. The most important thing is to be where your potential customers are. Use analytics tools to understand where your target audience spends the most time online.
Build an irresistible offer
To create an irresistible offering, you need to answer two questions: how are you better or different, and why should customers trust you? Being different can be more effective than being better, as customers are often looking for a new approach to existing problems. For example, offer a unique method or personalized service.
The power of express validation
Express validation involves identifying your company's riskiest hypothesis and testing it quickly. This can be done by creating a capture page for a free webinar or offering a seminar in relevant Facebook groups. This step allows you to check whether your idea is viable before investing too much time and money. Use tools like Google Forms to gather quick feedback.
Mistakes to avoid
Many first-time entrepreneurs make the mistake of looking for a completely original idea, or copying exactly what already exists. The key is to strike a balance between innovation and relevance. It's also important not to underestimate the importance of validating your idea before embarking on a project. For example, don't overlook negative feedback - it can be a valuable source of improvement.
To implement the idea pyramid, start by identifying a problem to be solved and a target customer. Next, create a unique offer that addresses this problem and captures the attention of your potential customers. Finally, quickly validate your idea to make sure it's viable. Use project management tools like Trello or Asana to track your progress.
Success stories
Local businesses and VSEs can also succeed by solving specific problems in innovative ways. For example, a local bakery offering high-quality gluten-free bread can differentiate itself from the big chains. Similarly, a green cleaning service can attract environmentally conscious customers. These examples show that even on a small scale, it is possible to stand out and succeed.
Practical advice for VSE managers
For VSE managers, it's crucial to focus on delivering value to customers, rather than on the search for an original idea. Using a structured method such as the idea pyramid can help you identify profitable opportunities and differentiate yourself in a saturated market. Don't forget to remain flexible and adapt your strategy according to your customers' feedback.
Conclusion:
In short, finding a profitable business idea every time requires understanding customer needs, proposing innovative solutions, and differentiating yourself in an often saturated market. By following the principles of the idea pyramid and implementing a rapid validation strategy, you can create a successful business that brings value to its customers. How do you find a profitable business idea every time? The answer lies in the ability to solve problems innovatively and bring value to your customers.
To receive a presentation of my complete training course in progress on "Essential Financial Skills for Small Business Owners", click here.
