Summary
- I look for big markets that already exist and try to disrupt them.
- Instead of creating something new, I make a product similar to what's already popular in that market.
- I undercut competitors by offering a product for free, instead of expensive ones.
- By doing this, I don't have to spend a lot of time on product research or development.
- My goal is to sell something else to users where I can charge more money.
Video
How To Take Action
I would suggest starting by identifying a large market that's already flourishing. Look for products in that market that are popular but also costly. This is where you can make a difference!
A good way of doing this is by creating a "me too" product. This means you make something similar to what competitors are offering but at no cost to the consumer. By offering your product for free, you can stand out and attract a lot of attention without having to spend a lot of time or money on innovation or complex product development.
Once you've got a product, the next step is to build a strategy for making money in another way. Since you're offering your product for free, think about another service or product that those users might want and be willing to pay for. This could be a premium version or an additional feature that complements your free offering.
By using these strategies, you can effectively disrupt big markets without heavy investment. Remember, the key is to focus on gaining user attention first with your free offering, then figure out how to create value and generate revenue in other ways. This approach is not only cost-effective but also a time-saver, allowing you to quickly adapt and grow.
Full Transcript
I tend to look for existing markets that are really massive and I disrupt them and I usually don't disrupt them by creating a new Innovative product that they don't have I look at to see what products are popular in that space and in that market is everything expensive for that product if it is I will go and try to create a met too product like Instagram copying Snapchats feature so that's what I mean by me too in which you're just copying and I undercut everyone on pricing so you don't have to do as much product research or development you're more so building something that the competitor has and people are used to paying for and when I say try to undercut everyone in pricing I just try to release something for free like literally for free not premium free that's a very big difference and then my business models usually go sell them on something else where you can charge those users more money from
