$100 startup

Question 1

Sell them the fish

Answer 1

1. Provide value by helping others
2. ask what your customers really want not what you think they need Ex: customer in kitchen restaraunt example, and complex airline info vs. cheap tickets example
3. improve their lives by taking away something that gives they don’t want (stess, debt, conflict)or providing them something that they do want(happiness, relaxation, love)
   4.Market benefits over features: Benefits provide emotional help»>
   Ex: get away ranch
   -feature: horses and farm animals
   -benefit:a place to relax escape mundane life and pretend to be cowboys

Question 2

6 things to do now to start a business

Answer 2

1. Decide on which product or service you want to sell
2. Create simple website
3. Decide on your offer
4. Set up transaction service Ex: Paypal
5. Tell the world about your product

Question 3

Three lessons about setting up a microbusiness

Answer 3

1. See if your passion can be converted to a skill that others find useful
2. You can apply your skills to related areas of work rather than your exact area of work
3. Passion + skill =success

Question 4

Three things you need to start a business

Answer 4

1. a product
2. group of people willing to pay for it
3. means of getting paid

Question 5

What to consider when you have a business

Answer 5

1. How can I enhance the incentive to accept offer
2. Add to my current portfolio of products
3. is there a new way to attract customers, clients etc.