So many young entrepreneurs ask me, “Grant, what is the best industry to be in?” I believe that everyone can and should be successful. But unfortunately, the answer to that question is not one-size-fits-all. For that reason, I’ve put together this questionnaire to point you in the right direction.
Questions to Determine the Best Industry for You
First, there is something you need to understand…
Therefore, you need to be clear on your purpose and what you are trying to accomplish by starting a business. Your why is the secret to achieving impossible goals.
You need targets to pull you forward when times get tough. Also, they provide a point to reverse engineer from to find out the best industry suited to you.
With that in mind, ask yourself the following questions.
What Can You Do?
As I mentioned earlier, you don’t start a business — you are a business. So, the best place to start looking for the right trade for yourself is your skillset.
And in the off-chance that you come up with nothing. I have a suggestion for you…
PICK SOMETHING THAT YOU HATE AND GET GREAT AT IT.
Sometimes, this works out even better than following your passion. I hated sales when I was on the come-up, and that was the foundation of where I am today.
Once you have your list of talents, it’s time to figure out what problems you can turn into opportunities…
Are There Problems Your Skills Solve?
Another way to determine the best industry to get involved in is to look for problems. While most people spend their whole lives avoiding trouble, you should seek it out.
Why?
Because the bigger the problem, the more people will pay for it to be solved.
Compare your list of abilities with how it can help others. And if you can solve those issues faster than others — even better.
Now, who are the people who need your solutions?
Who is Your Audience?
At this point, you are narrowing down the best industry for your company. But you gotta know who is a buyer for your product or service.
OTHERWISE, YOU HAVE A COMPANY BUT NO WAY OF CREATING REVENUE.
This is where a lot of new business owners trip up. They have a solution but have a limited scope of customers.
As a result, they don’t get their products in enough people’s hands for their business to make it.
Know your customer base, then expand it. Nonetheless, just being in the right industry with great solutions doesn’t mean you will be successful…
You Know the Best Industry for You… Now What?
Believe it or not, figuring out what the best industry to be in is the easy part.
Being an entrepreneur has a lot of moving parts that can feel overwhelming. It took me over three decades to create systems that worked for me.
But, I wouldn’t leave you out to dry like that. I have compiled a comprehensive system of everything you need to run a profitable business.
The Unbreakable Business System includes:
- How to Market
- How to Sell Your Product
- How to Scale
- And, More!
You can get more information here.
However you do and whatever industry you’re in, you deserve to be at the top. I hope this article helped you take the first step in an industry where you’ll thrive.
Be Great,
Grant Cardone
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