Niche Markets FAQs Part 2 of 2: The Questions

In this post, I share my answers to Frequently Asked Questions about establishing a niche market for your business, including:

  • Why is niching important?
  • Can niching go too far?
  • How do I decide on the right niche?
  • Why is it hard to limit your business?

Plus other topics related to picking a niche.

Watch part 2 of the Facebook Live video, or read the transcript below!

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Niche Markets FAQs Part 1 of 2: Basics

This is the 4th of a five-part Facebook Live series on topics related to business development and strategic planning.

Many of my clients are independent healthcare practice owners who have trouble growing their business in a healthy way. I find that practitioners often struggle to attract patients who fit their philosophy and goals. Not every customer is Ideal; some potential customers can actually take value away from your business.

The best way to attract the right customers—those who are interested in your services and eager to pay for the value you provide—is to focus on a Niche area. This is a specific set of services or products that meets the needs of your Ideal Customers and solves their unique problems.

Watch my Facebook Live video, where I discuss ways to increase the effectiveness of your business, and how to stand out in the marketplace. Or read a transcript (including bonus content!) below.

Continue reading “Niche Markets FAQs Part 1 of 2: Basics”

My Honest Review of the 21 Books I Finished in 2018

As part of my Year In Review, I kept track of how many books I was able to read. Compared to last year, I finished fewer books (21 books versus 26 last year). But although less of my time in 2018 was spent reading, I chose to delve into a few subjects that took more effort to get through.

Continue reading “My Honest Review of the 21 Books I Finished in 2018”

Analysis of the Disclaimer from a Direct Sales Company

Direct Sales companies, also known as Multi-Level Marketing (MLM) and Network Marketing, are growing exponentially. (Check out a list with hundreds of MLMs around the world.)

But despite their popularity and far-reaching impact, the MLM business model is often predatory, unethical, and at times illegal.

In this post, I want to evaluate the Disclaimer of one MLM company to shed some light on how this model works, how these organizations view risk, and why you should proceed with caution.

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6 Versions of the 3 P’s as seen on CNBC’s “The Profit” with Marcus Lemonis

One of my favorite TV shows is “The Profit,” a CNBC production starring multi-millionaire entrepreneur Marcus Lemonis.

CNBC The Profit, The Profit with Marcus Lemonis, Marcus Lemonis, The Profit TV show
CNBC The Profit with Marcus Lemonis

In each episode, Marcus evaluates a small business and decides whether to invest in its growth. The main tool he uses to make business decisions is called the “3 P’s of Business Success”: People, Process, and Product.

3 Ps, 3 P's, People Product Process, Product People Process, Marcus Lemonis, The Profit, CNBC's The Profit, CNBC, strategic risk
Marcus Lemonis – People Process Profit

I was curious about who first developed this concept. Was it Mr. Lemonis?

It turns out this concept has its origins in Lean (a systematic processing method used to eliminate waste). After doing some research, I discovered 5 additional versions that can add depth to your understanding of how to run a successful business.

In this post, you will see each of the six examples and illustrations, along with ideas on how to increase your level of business risk intelligence.

Continue reading “6 Versions of the 3 P’s as seen on CNBC’s “The Profit” with Marcus Lemonis”

Examples of the Sneaky Promises MLMs Use to Attract New Reps

Multi-Level Marketing (MLM) and direct marketing are very popular. The rate of growth of direct sales companies is staggering, especially in the healthcare industry.

Unfortunately, the MLM business model is predatory and takes advantage of people who are in vulnerable situations. Health and Wellness products sold by MLM companies are often unregulated, overpriced, and exaggerate the results.

In this post, you will see why MLM companies take advantage of our basic human needs, and actual statements they use to influence unsuspecting people into signing up.

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7 Reasons MLMs are So Attractive to Established Business Owners [Video]

Why would a business owner who is already established want to join a Multi-Level Marketing opportunity?

In this video, I answer some questions about why this is such a compelling offer and why joining an MLM can be so dangerous.

Check it out, or read a transcript (with links and other juicy details) by scrolling down.

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What’s the Difference Between Brick-and-Mortar, Franchise, Direct Sales, and MLM?

Business opportunities seem to be popping up out of nowhere these days.

If you are a company owner, you may be wondering whether to tweak your business model to keep pace with the newest social network and marketing methods.

If you’ve always dreamed of becoming an entrepreneur, you may be tempted to jump into the glittering promises of Network Marketing companies that showcase the opportunity to…

“Be your own boss!”

“Ditch the 9-to-5!”

“Generate passive income with no start-up costs!”

Since there is so much confusion about these terms, and the structure behind them, I decided to share my definitions for common business terms.

In this post, you’ll find a cross-section of 10 popular business models, along with my opinion about what is actually happening behind the scenes.

Continue reading “What’s the Difference Between Brick-and-Mortar, Franchise, Direct Sales, and MLM?”