Hungry audiences - My simple secret for success
Originally sent exclusively to The Letter subscribers on May 13. Want to be the first to get my personal newsletter in your inbox every Monday at 7am? Subscribe for free here.
The simple trick to making business easy as pie is to find a hungry audience.
Cast your mind back to April 2020: if you were in the business of selling toilet roll and pasta, you were making the easiest money you'll ever make.
I know this because, for a few months, I was selling those rare commodities.
Many entrepreneurs pivoted to selling those items because that's what a hungry audience wanted.
Supermarkets couldn't keep up with the demand.
This was a valuable lesson for entrepreneurs. It was fascinating to see how people would go to great lengths to get their hands on toilet roll and pasta.
Putting profit aside for a moment, if you had toilet roll and pasta, you would have instant cash flow.
Remember, profit is important for the medium to long term, but without cash flow in the short term, your business will quickly die.
By keeping the cash flowing, you keep the business going.
Profit keeps it growing.
A hungry audience will help with cash flow and some.
So, this little Covid escapade taught me to create products and services where there's a hungry audience ready to buy, right now.
no need to think about it
no need to consult with others
no need to ask the other half
they want to buy now
Selling hot dogs? Sell them at a football stadium during halftime with 70,000 hungry fans. You get the idea.
If you're in the business of making money, you'll want a hungry audience. It's just so much more fun and a lot easier!
To your continued success,
