Is it a lot easier to make money in the B2B world?

Because we are all consumers, the easiest thing to do when creating a new business is selling straight to consumers. We understand that business (or at least we think we do).

But his argument is that the odds of being able to compete against huge companies that can always undercut you on price are very low. So even if you come up with something truly new and unique, you probably wont last for long. (Sorry for that gloomy news.)

We also look at the huge successes like Facebook and think, heck, I can do that. But we forget about the thousands of other social networks that have failed. Facebook, in a way, won the lottery. And like many lottery wins, its riches wont last forever. In fact, they may vanish pretty fast.

Dont Follow Your Passion?

1. Less competition You arent competing with all those other consumer-focused entrepreneurs.

2. Stronger needs If you can solve a genuine business problem, they will be desperate for what youve got.

3. Less price-sensitivity If you can really solve their problem, and it is a significant problem, they will pay handsomely.

4. Lots of opportunities Running businesses isnt easy. So they have LOTS of problems for you to solve. And with the fast pace of technological change, there are new ways to solve old problems cropping up daily.

Whats An Entrepreneur To Do?

The role of an entrepreneur, says Bob, is not to know everything. Rather, it is to understand the needs of a particular business (or type of business), then go out and find the scientists, engineers and other technical experts who have the skills required to solve it, then package it all up and sell it.

So Why Did I Have Trouble Sleeping?

Because when I look at the data, Canadian retailers are still clearly nervous about selling online. But theres a lot of money being made in the B2B world, even here in Canada.

Ive been wanting to learn more about whats going on in that world for a long time (especially since my podcast with Optimum Energy Products, who no longer need salespeople because theyve done such a great job online). Bob has reignited my fire to do so.

ARTICLE SOURCE: This factual content has not been modified from the source. This content is syndicated news that can be used for your research, and we hope that it can help your productivity. This content is strictly for educational purposes and is not made for any kind of commercial purposes of this blog.