Transcription
You know, Alexer, most people who say they want to start a business never actually do. And the ones who try often waste years working on an idea that was doomed from the start. And that's because they either chase trends, copy somebody else's idea, or dive into industries they don't know anything about. If you want your time and energy to pay off, you need a business idea that makes sense for you and can actually survive out in the real world. Okay?
So, grab your pen and paper, my friend, because here's our promise. By the end of this video, you'll know how to pick a business that makes sense for you. How to stand out from your competition and how to validate your idea so you know it can actually make you rich. Welcome to Alux, the place where future billionaires come to get inspired.
All right, so you want to come up with a business idea that'll make you rich. Of course you do. If you're thinking it's as simple as asking, "What's going to make me the most money?" Well, think again, okay? Because that approach almost always backfires. Like when people see something like AI trending, they think, "I'll start an AI company without knowing the first thing about how the industry works." Or worse, they end up spending their life savings on some guru telling them that their course can make them rich quickly. But maybe they go in the opposite direction. They say, "Well, I really like writing poetry, so I'll turn that into a business." and then they're crushed when nobody's lining up to pay for it.
The problem is most people never really think about their business idea very much at all. They either chase money in a space they don't understand or follow their passion into a market that doesn't exist. But what if there was a way to avoid those traps? What if you could find the overlap between what you love, what you're good at, and what people are actually willing to pay for? Well, my friend, that's where the eeky method comes in. Okay.
Now, eeky is a Japanese concept that translates to reason for being. And it also happens to be one of the most powerful tools for finding business ideas. It's built on a simple but brilliant framework, four circles, and where they all overlap, that is where the best ideas are born. So, let's break down each circle one by one to see how they can shape your business.
All right, the first circle is all about finding what you're good at. You know, your talents, your strengths, the things you can consistently deliver at a high level. This is really important when thinking about your business, okay? Because think about it. If you're a brilliant coder, building a software startup makes sense. If you're a natural communicator, maybe sales, marketing, or media is your lane. If you've got an eye for design and a mind for functionality, you can probably make great products. Business is built on what you're good at, it's like playing a game on home turf. It creates an advantage right from the start. And in the long term, every business runs into challenges, right? But if you've built your company on something that you're already skilled at, those will be problems you'll know how to solve, or at least you can figure it out as you go. So ask yourself, what am I genuinely good at? Where do I outperform others without even trying? Because imagine if you tried.
Now the second circle is about finding what you love. This matters, okay? Because if you're building a business, you're going to be spending long nights, early mornings, and weekends grinding away at this thing. So if you hate the work, you're going to burn out fast. But if you love it, you'll keep going when others would quit. and you'll be more creative and you'll be more obsessed and the people around you will too. Think about Elon Musk. Love him or hate him, the man clearly loves rockets, cars, and ambitious engineering projects. And that kind of energy becomes contagious for the people who work with him. So ask yourself, what do I get excited about? What problems or industries do I never get tired of talking about? That is your second circle.
Your third then is what you can get paid for because yep, can't forget about that, right? Because look, okay, you can get good at something and love it, but if nobody's willing to pay for it, that's a hobby, my friend, not a business. The good news is you can be talented and passionate about something in a proven industry. And really, almost anything can make money if you position it right. I mean, people laughed at the idea of selling bottled water. They laughed at the idea of strangers paying to sleep in people's homes. And then Airbnb happened. But the key is there has to be some kind of path to monetization. If you can clearly connect your skills and passions to something that people are already paying for, you've got yourself a solid business idea. So ask yourself, what value can I provide that somebody would actually pay me for?
Now, the fourth and last circle in eeky guy is what the world needs. So, when it comes to business, the truth is that this one is well kind of optional. If you can find something you love, something you're good at, and something you can get paid for, you've already got yourself a business idea worth pursuing. When your idea also solves an important problem in society, your ideas become more meaningful. But it doesn't necessarily become a better business idea.
All right. So, that's the eeky guy method. When you know what you're good at, what you love, and what you can get paid for, and optionally what the world needs, you've chosen the business that's a right fit for you and actually works. But here's the thing, okay? This kind of clarity isn't something you find once and then forget about. And it's not something that just applies to finding business ideas. The only real secret to building wealth is staying aligned with your goals every single day. And that's where the Alux app comes in. We built the Alux app for people like you because we know growth requires consistency. So, think of the app as your personal growth companion. When you sign up for the Alux app, you answer a couple of quick questions about where you are now and where you want to be. And the app creates a personalized learning path with daily lessons, expert courses, and practical tools designed to keep you on track for your exact goals. There's even a collection all about Eeky Guy, which we just talked about. Inside the app, you've got everything you need and for a fraction of the cost of a useless college degree. Hundreds of thousands of ambitious people are already using the Alux app daily because it has everything you need to improve your financial skills, strengthen your habits, even improve your lifestyle and relationships. So, if you're serious about building real wealth and leveling yourself up as a person, this is the perfect place to start. And to sweeten the deal, scan that QR code on screen to get 25% off your yearly plan. Invest in yourself, my friend. It is the only way to push your life forward.
All right, let's get back to our discussion, shall we? So, now that you know what business you want to start, there's another problem waiting for you. And if you don't solve it early, it'll come back to haunt you later. You see, most businesses fail, but it's not because they have a bad business idea. It's because another business with the same idea just outperformed them. You're probably not the only person who can code apps, sell fitness programs, or design jewelry. Competition is real, and to succeed in business, you have to deal with that reality. However, the best way to do that is to actually avoid competing altogether. And this is where the blue ocean strategy comes in.
You see, most businesses compete in what's called a red ocean, where tons of sharks are all fighting over the same fish. That's what it's like in a crowded market. Everyone selling the same thing to the same customers at the same price point. The water here turns blood red because everyone's cutting prices, copying features, and fighting for scraps and fighting for scraps. The alternative is the blue ocean. Wide open, uncontested waters where you don't have to fight sharks because you're swimming in a space of your own. In business, this means creating a market where competition becomes irrelevant. Instead of trying to play the same game as somebody else, you create your own market entirely.
One of the best examples of this is Cirus. See, back in the day, the circus industry was basically dying. Ticket prices for the circus were stuck at rock bottom because competition was brutal and every circus was putting on the same animal shows and clown acts. When Circus Sole came around, they didn't try to be a better circus. Instead, they eliminated the expensive animals, reduced the silly clown routines, and raised the artistry and storytelling of their performances. And the result was a completely new form of entertainment, a mix of circus and theater. By doing this, they attracted a whole new audience of adults willing to pay premium prices for their shows. They weren't fighting for scraps in the red ocean anymore. No, they had created a blue ocean all their own.
So once you figured out the business that fits you, the next question is how do you create your own blue ocean? Well, this is where you need to look at your idea and start thinking differently. What assumptions could you eliminate that everyone else is taking for granted? What could you simplify or reduce that customers don't actually care about? What could you amplify that people really do value? And most importantly, what could you create that nobody else is offering? Let's say your eeky guy points you toward nutrition. So, if you sell diet plans or generic supplements like everybody else, you'll drown in the red ocean. But what if you eliminated the cookie cutter diets, reduced the outdated calorie counting obsession, and raised the focus on long-term health and personalization? Well, in that case, you could create a service where you get your customers to take some microbiome and DNA tests and then get a hyperpersonalized meal plan out of it. Suddenly, you're not just another nutritionist. You've built a business that feels impossible to copy. That's the real power of the blue ocean strategy. In the short term, it helps you stand out, but in the long term, it gives you room to innovate, get paid more, and build a deeply loyal customer base because they can't get what you're offering anywhere else.
So, now that you figured out what kind of business you want to start, and you know how to stand out from the competition, naturally, the next question is, how is this thing actually going to work? I mean, you need to know how your business will function in the real world, how it makes money, how it reaches customers, and why anyone should care in the first place. If you don't figure that out early on, you'll waste years figuring it out as you go. Luckily, there's a simple framework for breaking all of this down. It's called the lean canvas method, and it's basically like making a one-page business plan, but without all the boring Excel sheets. All you have to do is figure out the nine key elements of a business that matter most by answering nine quick questions. So, let's go through them all one by one.
The first question is, what problem are you solving? This is really the heart of your business. Okay? If you're not solving a real problem, you don't have a business. Uber, for example, solved the problem of standing on the curb waiting for a taxi that may never come. That problem was so universal that people were desperate for a solution.
Once you've identified the problem, the next question is who exactly are you solving it for? Too many entrepreneurs say my product is for everyone and that is the fastest way to fail. Okay. Successful businesses are built by serving specific people with specific needs. Like for example, Facebook started as a platform just for Harvard students. They built traction by narrowing the focus and only expanded once all of Harvard was on board.
Now we move on to your unique value proposition. This is the answer to the question, why should customers choose you instead of anyone else? You could think of this one like the one-s sentence promise that makes your business stand out. For example, Apple doesn't just sell phones. They promise beautifully designed devices that just work. That's what cuts through the noise and grabs people's attention.
Once you know your value proposition, the next question is, what's your solution? This is where you describe your product or service in plain simple terms. So, just imagine you're pitching it to a friend over coffee. Like, Dropbox's original solution wasn't described as a cloud-based file hosting service. It was simply a folder you can access from anywhere. Clear, simple, and effective.
And after that come channels. How are you going to reach your customers? A lot of entrepreneurs build something and just assume that people will magically find it. But you need to know where your customers are and then you need to meet them there because distribution is just as important as the product itself. For example, Gym Shark didn't take off just because they made great fitness clothes. They had a massive influencer campaign on Instagram where they knew they could reach their audience.
Now, the next piece is revenue streams. How is the money actually going to flow into your business? Or basically, what's your business model? Look at Google for example. Everything they do is free for you, but all of those ads you see are paid for by companies that want to sell you stuff. And that's money right in Google's pocket. So ask yourself, are you selling products, subscriptions, advertising, or services?
Now, right alongside revenue, you need to look at cost structure. How much does it take to deliver your product or service? A lot of founders fool themselves here, okay? They think they're making money, but once the costs pile up, they realize they're actually drowning. Restaurants are a classic example here. On the surface, it looks like they're pulling in big sales every night, but once you factor in rent, food, staff, marketing, the margins are razor thin. It's a non-negotiable. You need to know how much you're spending if your business is going to survive.
Next, you have to ask yourself, what are my business's key metrics? Because every business has a few key drivers of success. For a subscription business, for example, it might be customer retention. For an e-commerce brand, it could be the conversion rate. For a YouTube channel, it's watch time. If you don't know your key metrics, you'll waste time chasing vanity numbers that look good but don't actually move the business forward.
And finally, there are unfair advantages. So, what makes your business different from everything else in the market? This is the piece of the puzzle that most people forget about, but you won't because we already talked about it when we covered the blue ocean strategy. Your unfair advantage is how you differentiate yourself. It's the thing that makes you hard to copy. Whether it's your positioning, your unique approach, or the market space you've created for yourself.
So, if you pull all of these nine elements together, problem, customer, value proposition, solution, channels, revenue, costs, metrics, and unfair advantage, you have a lean canvas. It's not about having a perfect plan, but if you can fill out this honestly, you'll have more clarity than 99% of people who say they want to start a business.
All right, my friend. So, we've talked about how to find the right business for you. How to stand out from the competition and how to turn a rough idea into an actual plan. If you remember earlier in this video, we told you to grab a pen and paper. And if you're serious about building your future, we actually really encourage you to do that, okay? Write this stuff down. You can literally go back through this video, answer the questions, and follow the steps. And by the end, you'll have a solid business idea in your hands. One that could change your life and help you build the wealth you've always wanted. So, we hope this video gave you some clarity and the push you needed to get started.
All right, Aluxer, thanks for watching today. Don't forget to hit that like and subscribe button and check out the Alux app by scanning this QR code on screen to get that 25% off discount. It's got everything you need to level yourself up as an individual. We'll see you back here next time, my friend. Until then, take care.