Updated: Jun 17
Have you ever wondered why people go about making the choices that they do make, especially in choosing new opportunities or buying into your product or service?
Join me on this episode of the virtual entrepreneur. If you're new to this podcast. A very warm welcome. I am your host, Herbert innocent and today we are looking at the concept of creating new opportunities and what this means is, why some products gain a lot of market attraction, while other products don't.
On our previous episode we looked at some of the questions that business owners need to look at in order to put themselves forward they need to make very good decisions in their business. And in order to advance, but also more accurately, in order to assess where their business is at. If you didn't get a chance to listen to that episode I want you to stop, go back to our previous episode, and listen to that and refresh, we'll come back we'll always also be here. Another thing to consider is this, the notes from our previous episodes all our previous episodes can be found at Herbert marketing help.com
That is HBr b e r t marketing help.com With that said, let's jump into today's episode where we are going to look at the concept of creating new opportunity. So how do you turn your product or service into this new opportunity. And there are reasons why you may want to turn your product or service into new opportunity. But the ones that I'm going to focus on very, very simple.
Consider a person looking for an opportunity to solve a particular problem. Usually these the general solutions in the marketplace. For example, if the solution is to attain some sort of result. Usually the is the hardware, which is work hard until you get the result. And usually there will be work smart until you get the result, or pay someone else to do it for you until you get the result, and so on and so on. There are 1000s of methods.
But the problem arises when you want to sell your solution.
And your solution has become the norm, the available the generic in the marketplace.
An example for this is, imagine trying to sell a product, but people have tried to use it before, and they're tired because it never worked in the past now selling that kind of a product becomes very difficult unless the need is exceeded, unless there's so much pain that the customers or the clients will do anything to alleviate that pain for example in the health industry, or when people experience severe pain, emotional pain from other different areas.
For a simple example, exercise, we all know exercise is good for us, we all know it's good for health. We all know it has all these health benefits that comes to us, to it. With it, prolonging our health but also making it stronger, better, we show up better our cognitive or mental functions are improved. There are so many benefits.
But some of the reasons why we don't use choose to, you know, go about and do the exercise because for some of us, you know, people have tried exercise, and then at one time, fail at it. Right. You try for two weeks, three weeks and if it doesn't work you quit. Right.
And what happens from there on, is you know, it becomes the thing that it doesn't work. The belief in using exercise as an opportunity to gain health and improve your mental cognitive function becomes very very difficult. Right. So how do you sell someone an emphasise if they've tried before it never worked. Well you need a new opportunity that gives them the end that's where the dieting comes in. And for those who have tried dieting and then it never worked before.
Then they need another new opportunity. That's where all the things come in like fat blockers, like all these other kinds of pills, you know, that's why the market becomes so big because they create all these other solutions, like in the exercises, you know exercise courses designed to give you to push you really hard to get into shape into shape. And this succeed.
But the thing is this, that success is not always perpetually is not always very guaranteed to last and the reason is because if they take the opportunity that is being used if it's old and people have, have not experienced success with it before, The chances are that belief.
Self belief beliefs creeps in, sorry self doubt creeps in, and renders that opportunity, as not optimal, not the best choice. Right, so it will give up on that because they feel like it was their faults were not succeeding people wouldn't buy things to disprove themselves, they buy things, to prove that they were right to prove that they can do it, not to disprove themselves. People spend money to improve their status to feel good not to feel bad.
And so, if the method that they were using in the past, aren't working, selling those methods doesn't tend to work as often unless it's something like, you know, health care where you know you have a fever and you need to take the pill, and it's gonna take a while to get healthy, but there is no other options. Right, so it's only unless and things like that. Now this is we're creating a new opportunity comes in.
Now the way I understand this method of creating a new opportunity is this, you create an opportunity that's going to solve a problem, it may use the same old principles and techniques and even methods, but with a twist that guarantees better results that guarantees.
Some sort of novelty to it. Right, so it's not so much completely new, but maybe a new way of doing it. Right, so it's not completely new that people don't even know that they needed.
For example, The car wasn't completely new that people didn't think they needed they had the horse. Right. They had the horses, you know, they were using horses as a method of transport. So when the car came, it wasn't that, it was a new thing. It was just a new method of cars. The thing that cars, so is getting by getting from one place to another place, from one point to another point. So the problem that is being solved, there is just using a different vehicle, not using the same old vehicle.
So in creating an, a new opportunity realise that your aim is to solve that problem. So you're solving that problem by using a different vehicle you're using a new opportunity. Right. And what this means is a new opportunity essentially just brings people the excitement of, you know, discovering something new.
For the first time. And because it's new, usually people will want to share it, right.
And the idea here is that, because it's new.
It doesn't increase is the status quo, you know like the way people who stand in line for grand opening. The excitement. Right. And that also explains why something, some things will go viral.
Because of that idea of new discovery, new discovery, but also the second point not about, you know, this idea of creating new opportunity as your product or service your new vehicle, essentially getting away. you know, creating an opportunity where the new opportunity sells away from pain. So for example, the, the model of the car, the car industry for using that, when the first cars were being built. The idea was to avoid having to take care of the horses, all the time.
Right, so the car was meant as a replacement of the horse, especially in the harsh weather and all those things. It was selling, away from the pain of the existing vehicles. Right.
If you look at the improvement of the anything really you'll see the improvement was made as a new vehicle to get away from a specific pain.
So, the idea of this new opportunity is really an improvement, which offers to sell through the pain, if that makes sense.
Right, so the next thing is to replace a dream, essentially. And what this means is, essentially,
is essentially people have dreams, right, and they want to make to have those dreams come true. Right. They want to make changes, so that they can succeed, so that they can avoid the fears of failure. And this new opportunity can be a way for them, right, to not struggle, but to really go towards their dream, because the alternative is that if they tried to change and it doesn't work, then their dreams are dead right if they feel like it failed. Right.
And so for us when you're making this new opportunity when you're creating this new opportunity is to make a new opportunity, which gives them the dream to move forward a new method they haven't tried yet not selling the previous method because the previous method didn't work for them, make sense.
And then the last piece of reason to create a new opportunity is, essentially, to allow them to cross over to a new place to bring them to a new place and Russell Brunson refers to this is a green pasture. Right. And the idea here is that
if you look at the phrase, the grass is always greener on the other side of the fence.
Right. The idea is to bring people to the other side of the fence right not to convince them that the grass is better with the, but it's better on the other side, and a very good example of this is why will travel to go to a different country, just in sake of opportunity. They believe that, on the other side, there is opportunities.
They believe it's always better on the other side. And it's not so much that they believe that it's better, but it's just that change in environment, creating that new opportunity creating that new way of doing something right. So that's what you want to do there. Right, so it's a, it's not so much that we are trying to make the same thing better. But if you're trying to sell them a new vehicle that solves the same problem they have.
And the reason why I wanted to come and say df new opportunity is because for the longest time, as intrapreneurs tend to think we need to create a new product.
But really what should be focusing is solving the same problem that we're already buying solutions to solve, but using a new method.
Right. So for example, if you want to go from one place to another. Well, we can either walk or we can either run. Right. We can either ride a bicycle or we can ride a car, or we can ride a horse.
We can either take the train, take the boat, or take the plane.
And you can see there that all the solutions have one problem going from one place to another place. Now in the case of the boat. Obviously you can go using trains.
So, in case of boats, it's obviously because these water is, if you're going on to using water, but then this is about submarines and these planes to overcome all these solutions exists to solve one problem which is travel. Travel is the problem, and all these solutions, create are created to eliminate one specific pain. The pain of convenience.
The pain of time it takes, and the pain of, you know the struggle, the work required. So for example, driving a car takes a lot of time mental focus. There's nothing you can do but it's a plane, you can be busy working on your computer while you're getting there, with a train, the same thing with a boat, you might as well be celebrating while you're travelling, right. So, it's all these things, and with modern technology, we are going even faster and faster waiting to getting from one place to another. At much faster speeds, right, and the pain you're trying to solve the speed.
And this point, didn't make any sense to me for the longest time until now. And what's important for us intrapreneur here is to realise we are trying to solve the same problems, companies already have businesses already have people already have.
But you want to package them in a new opportunity and opportunity that gives them something new, because if you try to sell the same thing the same old thing, then the chances are it won't work. And the reason why it won't work. It's because it's the same old thing that they've tried and it didn't work before. And that's the difference. And that is the big difference here. So I want to thank you for tuning in on this particular episode of the virtual entrepreneur. I hope you got some value.
And this was quite exciting to learn because it's one of those things that are always confusing, new businesses are so eager to create something new. They forget the reasons why we create something new in the first places, but if you look at businesses that succeed, sometimes it's not so much creating something new but it's solving the problem that we are already paying to have solved, if people aren't paying to have that problem solved, then the chances are, they want to pay for it.
Right, so you want to solve it in a way that will make them pay. With that said, thank you so much for tuning in on this particular episode of the virtual entrepreneur I hope you got some value, the notes for this episode can be found at Herbet marketing help.com.
And that said, I will talk to you in our next episode for virtual of the virtual entrepreneur.
As always, have a wonderful evening.