Our guest on this episode of Sales from the Street is Pete Mockaitis. He’s an entrepreneur and his is a fellow co-podcaster.
He hosts the show, How to Be Awesome at Your Job Podcast. And today, he talks about the principles behind building a business out of your passion and why you should strive to fail early and often.
Building Your Business Out of Your Passions
- Just because it’s your passion doesn’t mean it’s going to get you paid.
- Some passions are not appropriate for trying to build a business or a product or a livelihood out of it.
- Ask yourself if people really want this thing.
- Acknowledge the reality that if you don’t have the product market fit, you’re not going to go very far.
Strategies for Finding Your Business:
- Find a new product
- Apply that product differently in that it solves a more compelling problem.
- Change your market.
- This is where the concept of Minimal Viable Product comes in.
- Start off lean.
- Make sure it’s not just something you want but what everybody wants.
- Start basic and test it out. Then see what the market wants.
- If you fail, learn from it.
- Find out what the customers want. So when you fail early, you can easily move forward.
Results Pete has seen:
- Their podcast hit over a million of cumulative downloads in just over a year.
- They hit some nice iTunes rankings.
- Pete has been featured on The New York Times.
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