The 4 Questions Every Entrepreneur Must Answer

the 4 questions

Yesterday I emailed a survey to my list asking everyone to tell me a little about who they are professionally.

I do this every year to make sure I know who I’m writing to.

The breakdown came out as I expected.

  • 37.1% – Don’t Own a Business
  • 25.7% – Coach or Consultant
  • 14.3% – Sell Info Products
  • 12.9% – Own Traditional Businesses
  • 7.1% – Sell Physical Products
  • 2.9% – Are Copywriters

You might think it’s odd that 37% of my list don’t own a business since that’s all I write about.

But that’s not uncommon. There are more people on step 1 than there are on step 2 or 3.

There’s no shame in that.

What’s shameful is to stay stuck there.

The world is full of people who spend their whole lives talking about what they’re going to do – but never do it.

In Kansas we say those folks are “all hat and no cattle”.

They’re also the hardest people to help because they have an excuse for every opportunity.

You could literally hand them a turnkey business that was making a profit and they’d tell you they need to think about it.

But not everyone is like that.

So today I want to speak directly to those of you who haven’t started your business yet but who are serious about doing so.

I’m going to ask you to do a little work (GASP!)…

The thinking kind of work.

The kind of work most people outsource to a third party.

But if you’ll do the work I ask of you then by the end of tomorrow you’ll have a great business plan ready to deploy.

Ready? Okay…

Every entrepreneur needs to answer 4 questions before they launch their business.

We’re going to talk about questions 1 & 2 today, and questions 3 & 4 tomorrow.

Question 1: What marketing do you want to serve?

Entrepreneurship is about service. We solve problems. Whether that be a sore back, a broken dishwasher, loneliness, or a lack of consistent leads.

Everyone has a problem they want to solve. The question you need to answer is WHO you want to serve.

There’s no need to try and ‘niche down’ with this question. Just pick a big group of people like:

  • Golfers…
  • Single moms…
  • Dog owners…
  • Home gardeners…
  • C-suit executives…
  • Crypto enthusiasts…

You can also start with an industry like:

  • Fashion & Beauty…
  • Personal finance…
  • Retirement investing…
  • Health & Fitness…

So pick one. And don’t give me this crap about how you “can’t decide between this or that”.

I’m not going to pick for you and neither is anyone else.

Grow up, stop making excuses and make a decision.

Question 2: How do you want to serve them?

What initial product or service are you going to offer your market to help them?

If you’re in the crypto space you might offer them a course on how to invest in crypto…

Or you could have a paid newsletter or community that keeps diehard crypto nerds up to date on all the changes happening in the industry.

If you’re more ambitious you might build your own crypto exchange to offer people a safe and secure way to use their crypto.

There’s certainly a need for that right now.

I’m not even in the crypto space – but if I sat down with my thinking cap on I guarantee I could come up with a dozen great ideas for a product I could sell.

So that’s your mission for today.

Find a quiet spot where you can engage your brain and answer those two questions.

What marketing do you want to serve?
And how do you want to serve them?

Bonus points if you email me the answers. 🙂

Tomorrow I’ll give you the other two questions you need to answer…

So keep an eye on your inbox for that email.


P.S. If you know any entrepreneurs or copywriters who would enjoy this letter, just send them an email with this link:

P.P.S. Your e-mail address will never be shared. And if you ever want to unsubscribe, just let me know and I will vanish from your life like a shadow in the dark.

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