TMBA 186 (LBP154) – How Profitable Niche Selection Really Works: Rip Pivot and Jam Redux

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TMBA 186 (LBP154) – How Profitable Niche Selection Really Works: Rip Pivot and Jam Redux post image

This week Dan and Ian are back in Saigon and are pumped to bring you this episode that’s chalked full of actionable methods and business frameworks.  The Rip, Pivot and Jam is one of the fellas’ favorite business concepts so this episode is dedicated to helping you get the most from it.

Running a business is all about selecting a market, analyzing that market’s potential then taking directed and purposeful action to execute.  Lots of people are too busy making things too complicated to bring it back to basics.  Tune in to this episode where you’ll hear Dan and Ian’s tried and true process for maximizing the Rip, Pivot and Jam framework for next venture.

All About Turkey Thermometers

  • The $100,000 question that will save you years of floundering and confusion in an industry.
  • Why you don’t have to be that smart to use the Rip, Pivot and Jam framework.
  • The exact steps you can take for putting Rip, Pivot and Jam to work for you.
  • Why good ideas aren’t valuable… and what you should be focusing on instead.
  • How turkey thermometers are useful in business, or at least in taking temperatures.

Mentions:

Just The Tips

The Jam
Get Your Voice On The LBP
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Have fun. Leave a comment. Go make it happen! :)

Episode length: 27:57

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Published on 05.02.13
  • http://simonsouth.com/ Simon South

    The $100,000 question sounds like a great idea, but how do you guys broach the subject with a competitor? I’m having a hard time imagining another company willingly giving out their market intelligence like that (basically revealing the best way for a new competitor to enter the market).

  • http://www.tropicalmba.com Dan

    Yo Simon- so far people seem more than willing to share what products are the most popular, there are many reasons why potential customers would want to know what is working the best or what is moving the most. So for example “what product do most of your customers seem to be happiest with” type of approach. Also if phone calls aren’t working many people just have their most popular content or products listed on their website, but of course it’s always best to get people on the horn.

  • http://simonsouth.com/ Simon South

    Thanks, Dan. Of course, it should have occurred to me—the key is to not announce you actually intend to enter the market…

    Loved the episode, by the way. I think RPJ is one of the best ideas you guys have given out on the podcast and it was great to get another thorough treatment of it.

  • Heaven Willpower

    Thanks. I have one question: Where is the best place to get ideas what to rip? I mean one place where you can browse through business ideas.

  • http://www.tropicalmba.com Dan

    I wouldn’t look at ideas, I’d look at businesses that you know about / interact with, especially in industries that you are familiar with either as a consumer or otherwise.

  • Heaven Willpower

    But I don’t interact with so many businesses, I meant something like Crunchbase, to get inspired.

  • http://www.tropicalmba.com Dan

    You could try clickbank etc… I might just go around the blogosphere and look for blogs that serve information you love that seem to have good business models in place etc.. can’t think of listings off the top of my head.

  • Heaven Willpower

    I meant some website, which is regularly updated with new business ideas, which can be ripped to another location/country. E.g. 18 years ago, I would noticed that there is some ebay, I would rip it and pivot it to another country. But you have to be fast, to be the first one.

  • Jeanna

    Great podcast! I discovered it recently and I’m listening to older podcasts. The quote: “We are salt and pepper…” is what everyone has to remember. Almost every industry has been worked through, but we can do it on our own way! Thanks guys!

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