In case you haven't noticed, there is an important trend unfolding in the evolution of modern-day businesses that you need to understand and exploit as a Lone Wolf solo business owner.
Years ago, traditional businesses would set up shop in a physical location, stock shelves with the goods the owner expected to be in demand, and lastly open the doors to customers and hope they would buy what was offered.
The solo information business of today is different. No longer does the owner need to make such an expensive commitment to his guess or hunch about which niche is profitable and which products will sell.
The savvy business owner will first establish exactly what the customer is looking to purchase, then he'll develop or locate that exact product(s), learn how to contact the waiting customers in that niche, and lastly offer the prospects exactly what they are looking for.
Does this approach sound like it takes most of the guesswork and mystery out of the selling equation?
I hope it does. The Lone Wolf business strategy owes much of its power to the fact that it reduces the inherent risks associated with traditional business
methodologies.
Why guess at what your customer wants when he will tell you exactly what it is . . . if you simply ask him?
Why keep a large inventory of products on hand if you can put into place a system to quickly produce those products on demand once they have been paid for?
Why go to the hassle and expense of renting or buying an expensive store front when you can save 98% of the cost of overhead by working from home with a computer and an Internet connection?
Why compete with powerful and well-financed corporations when you can dig down very deeply into a niche and become the market leader and industry expert of a very tightly focused and profitable niche that has few, if any, competitors?
You see, today's business climate and information focus reward extreme specialization. Customers crave and are willing to pay for very specific information that will help them fill a desire.
The deeper into a niche you go, the fewer competitors you find and the more
passionate the customers seem to become.
Corporations are divesting themselves today of whole departments and all the extraneous sidelights they once pulled under their wing. They are focusing on core competencies and shedding (outsourcing) all the baggage that they're not so good at operating.
Some have called this trend the "unbundling" of business. Never has there been a better time in history for the solo business owner to find a deep, deep niche and capitalize on the fact that he can make a good living serving the customers of this tiny segment.
Just remember to "go deep" (drill way down into the niche) and focus on the wants of the passionate customers you'll find there.
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