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How to Go from Business Survival to Prosperity?

It is hard to believe that so many gurus and business schools are still advising entrepreneurs to ask themselves 3 “wrong” questions:

1) What is my passion?
2) What needs exist in the market place?
3) What problem can I solve?

These questions are either too specific regarding the entrepreneur or too vague regarding the market. Many business owners could not adjust to the economic recession of 2008-2009. Even large companies saw a saw a shift from brand power to consumer power.

This has occurred because more and more people kept going online to shop for anything from retail clothing, to education, to car purchasing etc.

I operate several business models and instead of asking myself introverted questions or trying to figure out the market as a whole, my team and I surveyed several people and positioned the business models for long-term prosperity.

Here is what you can do to duplicate what we’ve done:

1) Find a customer in need of a solution
2) Get the best possible solution figured out for that customer on a turnkey basis
3) Structure your business from marketing to operation to deliver that valuable solution to more customers at a price they would be willing to pay
4) Keep growing these relationship so you can serve your customers as they grow with you

You see shrinking the model to a few people looking for a solution, and then finding the most valuable answer for them is the first step to developing a reliable, predictable and profitable system.

The next step is to automate it using the right people and technology and then to scale it to the critical mass in price point and market share.

Voila, this is the formula of going from business survival to market prosperity.

The final step then is to time the sale of your enterprise when you feel you’ve scaled it to the right level.

Many entrepreneurs do well when the market is up but lose it all when it pulls back. This is because they cannot face the fact that all business models change and evolve especially nowadays when the Internet plays a big role in consumer decisions.

Once you do this full cycle of figuring out the individual need and providing a valuable solution at a price he/she is willing to pay and can make it a system that is reliable, predictable and profitable. You would be half way to prosperity.

The rest is simple: Automate it, scale it and then sell it!

You can repeat this process as often as you like or you can keep searching for your so- called “passion” and some vague overall market needs!

We have done this at CMREI and created a real estate hedge fund to assist investors in 2009, we developed special mentorships for students who want to launch their own syndications in 2011 and we offered Joint Ventures in 2013 for those who wanted to grow and prosper with us.