TMBA 039 (LBP39) – 4 Tips for Deciding if a Market is Worth Attacking

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TMBA 039 (LBP39) – 4 Tips for Deciding if a Market is Worth Attacking post image

Hello from Malaysia! Well everybody I’m almost ready to hop on to a plane to meet up with @anythingian in BALI of all places.

We are both long overdue to un-plug from the daily duties of our current lifestyle business, and focus on launching a brand new site that has some really cool implications for our lifestyle and current business. We are looking forward to sharing all of that with you on the podcast, and I’m sure that if we can be more transparent with our stuff on this show the listeners would be a HUGE asset to making sure we do things right. Ahem, here’s a hint:

Listen to this episode.

In this episode we get a great follow up from @DallasCarter about his 808FIT.NET weight loss website. If you haven’t yet seen Dallas’ incredible story clicksie this link baby and check out how a guy drops 190 and turns into a sexy beast. Issaac Dudek (@isaacdudek) also called in to ask two questions about the mindset of outsourced employees (we focused on the Philippines exclusviely) and the kinds of technology is prevalent in the Philippines.

For the meat and potatoes we discuss 4 tips for deciding if a market is worth attacking, these tips are once we recently implemented as we have in the past week chosen two new hot markets to attack (very excited about that!), in terms of execution we’ll be following similar steps we took to create a $6,000 site in 6 months (that site was the last niche we selected).

For the quick tips we talk about screen capturing, webex, and how to create great ebook covers in under 10 minutes.

Mentioned in this episode:

People in this episode:

Call us with your questions or comments at 888-554-8428 .

Episode length: 27:30

Listen to this episode.

If you’ve found the podcast at all helpful or entertaining, we’d love if you could click over to our iTunes page and give us a positive review. This will help us to get more listeners and invest more in the podcast! If you know some ways we can make it better, please send us an email. Dan at lifestyle business podcast . com.

 

Published on 08.30.10
  • http://twitter.com/LeverageSuccess Paul Serwin

    Very good show as usual guys! I always look forward to your podcasts! Definitely motivate me to do well and be successful in my business. Thanks for all your help.

  • http://joelrunyon.com/two3 Joel Runyon | [BIT]

    @Ian – Windows 7? I thought we had the Mac debate while back already :)

    good to have you guys back & thanks for the shoutout!

  • http://www.thewaythatyouwander.com Nate

    The snip tool rocks. I updated to windows 7 and it doesn't have it! Makes me miss Vista. I've been using Aviary in it's place and it's pretty cool.

    And I LOVE e-covermaker. Found it a few months back and it blew me away.

    Rock on guys!

  • Beau

    Here is a friend that is in that network of programmers http://www.voicefidelity.net/ He might be able to help some of you guys out looking for the higher level programmers, he is working for a call center here and they are paying him $2000 dollars a month so they new languages cost allot more.

  • TropicalMBA

    An incredible piece of software indeed!

  • TropicalMBA

    Yeah i'm not sure if the bit is still in there but he only needed to use the damn thing in the first place because his print now function broke down !!!? if you are using vista you might as well keep a roll of duct tape at your desk, you'll probably need it :)

  • TropicalMBA

    Thanks Paul!

  • TropicalMBA

    Rockin' Beau thanks for the link.

  • http://twitter.com/isaacdudek Isaac Dudek

    Hey guys! Thanks so much for taking the time to answer my questions on the air!

    A bit of clarification: I'm not looking for co-founders overseas, but I am in the market for technical hires #1-N–people who care enough to go that extra step to improve the product instead of coders who just want to cross things off of a lifeless task list. I've been developing startups in Norcal and Socal for years now and, while I'm earning a great income, I think the next step in my career (in terms of earning power and, more importantly, overall output) is to apply massive leverage to my abilities by building a team.
    It's a little discouraging to hear that my tools of choice aren't so widely used in the Philippines, and therefore also that the cost of those using them is much greater. Who knows, maybe I'll head over there next year and build a Rails team from scratch. I'm working on a number of (what I believe to be) effective Rails training materials anyway.

    Dan, you're really hitting your stride as a podcaster. You've got a great flow and rhythm on the show; very natural and very entertaining. I listened to something recently where you said you want to be the next Adam Carolla. Dude, you're so on your way, it's ridiculous.

  • http://twitter.com/LeverageSuccess Paul Serwin

    Type in Snip in the Start Menu search bar. It's called Snipping Tool in Win7

  • http://twitter.com/jordan_luke Jordan Luke Collier

    Hey guys! Thanks so much for the eBook Cover Creator tip – this was exactly the solution I needed at the time of listening to your show.. :)

    Also, it was great to hear your analysis on the Lifestyle Entrepreneur “scene” there in the Philippines.. I'm highly likely to spend 3/4 months in Thailand this winter, creating some products, working on my online presence and generally escaping the winter blues. I've been to Thailand before as a student backpacker, but I was wondering whether you guys or any other listeners could suggest a couple of “Lifestyle Design Capitals”, so to speak – places where someone could rock up, make some like-minded friends and contacts, and generally become quickly integrated into a community of hardworking and hard-playing lifestyle entrepreneurs..

    Many thanks & keep up the great show!

  • http://RealEstateMarketingMojo.com/ Craig Ernst

    Nice episode, guys. You shared some really valuable information.

    I agree with wholeheartedly with your opinions about imitation vs, innovation. A hard lesson I've learned (more than once) is that the key is to imitate BEFORE you innovate.

    And as you mention, innovation is often expensive, and road is often unclear. Sometimes, you enter a market and you *think* you understand why your (successful) competition is doing something (or why not), but often, it's not until you imitate their basic strategy that you really understand what's happening behind the scenes.

    BTW, Dan, I'm also a big, big fan of NN Taleb. If you liked The Black Swan, you should definitely check out his first book Fooled by Randomness.

    Keep up the good work!

  • http://www.travelpersonality.com Travel Personality

    Hey Dan and Ian. Another great podcast full of useful information I can inact in my business today. Have a great trip to Bali. You deserve the break. Thanks for the great shout out for http://www.travelpersonality.com That was appreciated. One of the big focuses for the business and blog is to help lifestylers have a place to find great destination spots that cater to the needs of a lifestyler. One that is hard to find is resort wide internet. Why pack the laptop for work related issues if you are only going to find internet in the business center. Why not find a location that offers internet at the pool, bar, etc.? Again, thanks for the shout. Im ready to check out weber and myebookmaker tonight.

  • TropicalMBA

    Hey Isaac! Yeah I figured we framed that one up wrong RE: co-founders. I don't want to discourage this “run around the globe” style of scrapping up good first employees, so far its worked for us and its been tons of fun, its just not a huge trend. In fact, that can be all the more reason to do it. If you built a rails team from scratch it would certainly be a huge asset and probably tons of fun. Thanks for the kind words on the podcasting stuff man I want to go pro!

  • TropicalMBA

    Sweeeet…. what a nice little piece of software! I've sent it via email to a lot of my info marketer buddies. I really love your idea about Lifestyle Design Capitals, Ian and I are gonna do it!

  • TropicalMBA

    Hey Craig thanks for stopping by, once I get my kindle charger replaced Fooled by Randomness is def on the list… I was even thinking this morning about the implications that Black Swan should have on our business and I'm trying to pull together some of those thoughts for the show. Innovation vs. Imitation is something that should be taken more seriously especially by beginners, agreed!

  • TropicalMBA

    Totally agreed on the resort WIFI thing, I've often discussed with other #LIPs that there isn't a useful and comprehensive WIFI guide out there, I suppose it would be very difficult and expensive to pull together plus you have to have some critical mass of information… would be a great product. Right now Ian and are are banging it out in a WIFI cafe, Bali is very very awesome. Thanks for listening :)

  • http://www.travelpersonality.com Travel Personality

    Nothing beats a travel agent like Travel Personality (shameless plug) to use all of the industry resources to find resorts with extensive WIFI networks. I've only seen pics of Bali and it looks great. Tell Ian hello, and remind him that he got a great offer from us in his email. Looking forward to the next podcast, I can just imagine with you two actually knocking heads together will come up with some great content.

  • http://RealEstateMarketingMojo.com/ Craig Ernst

    I became much more interested in the black swan as a concept after my house was left under 8 ft of water for 3 weeks in 2005 by Hurricane Katrina! (Though Taleb would likely term that a “gray swan,” since though Katrina's effects were unlikely and catastrophic, they were far from unforeseeable.) Needless to say, for me at least, it was a lesson learned! LOL I've been much more aggressive in contingency planning for both my business and personal lives ever since. Anyhow, keep up the good work! You and Ian are doing a great job.

  • http://twitter.com/jordan_luke Jordan Luke Collier

    great! looking forward to that episode :)

  • http://twitter.com/jordan_luke Jordan Luke Collier

    Hey guys, I just found the following passage in a psychology text I'm investigating and thought of the podcast.. It's funny to see the kind of company that start-up owners keep..

    “People who love risk describe the thrill of being “on the brink.” They feel elated when they take a situation to its limits and emerge victorious. They might get this thrill from driving race cars, playing the stock market, rock climbing, working for a start-up company, or engaging in high-risk behaviors such as gambling or dangerous sex. The excitement comes from flirting with danger and surviving by your own wits and skill. Your senses must be totally alert since you risk your job, your security, or your life at every turn.”

    What do you think?!
    Have fun in Bali…

  • http://www.lifestylebusinesspodcast.com/ Ian

    Thanks Paul!

  • TropicalMBA

    haha that seems to nail me a bit, perhaps I blushed. I love the thought experiment of starting out a square one. “Square one is more fun!” I love the idea of possibility and exploring new stuff. Sooo… yeah, cheers to starting new ventures. Bali is freaking awesome. We are seriously talking about what it might take to move here.

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