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Okay.
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Welcome to this brand new section where, as I said, we're going to change gears a bit here now and
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look at how you're going to choose your market.
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You need to choose a market that you're going to sell within.
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And then I'm going to show you how to find profitable products within that market.
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Okay.
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And once we have those products, of course, further on in the course, I'll show you to how to add
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them to your site.
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Now, there's a lot of great knowledge here that I'm about to give you.
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The first thing that I want to say is that you don't need to find the next amazing trend when it comes
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to markets.
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Okay.
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A classic rookie mistake, a classic beginner's mistake, and I've done it as well in the past, is
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that you believe somehow that you need to seek out the next greatest trend and be the first person in.
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And then, you know, as this kind of huge wave of demand washes over you, you'll make an absolute
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fortune.
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Now, I'm not saying that doesn't happen because it does, but it is few and far between.
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So what I'm doing here is managing expectation.
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The chances of you finding the next amazing trend is sadly minimal.
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I don't want to discourage you.
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I'm just being realistic.
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Okay, so what we actually want to do is we want to sell into established markets.
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We want to find markets where there is already a demand.
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Right?
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Because demand is proof of concept.
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It shows that people are interested in that market and it shows that people want to buy products within
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that market.
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The world in which we live in markets don't exist unless people want to buy stuff from them.
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That's that's the fact of the matter, right?
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Nothing exists in this world unless there's a demand for it, whatever it might be.
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So we want to enter into a market that's already established and take out all of the guesswork.
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So now I'm going to show you exactly what I do so that you can benefit from my years of experience of
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doing this.
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And what I do is I use two websites, AliExpress dot com and Amazon.
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So let's dive over to both those sites and let's have a look at how we can choose a market or in fact
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how the market will actually end up choosing us.
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Okay.
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So here I am on Alex Bascombe, the famous Alex Bascombe that we're going to be using an awful lot to
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build up your business.
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Now, if you've never been on here before on the home page, everything is neatly categorized.
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So I'm just going to choose something at random here just to demonstrate how powerful and simple this
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method is.
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So let's go for Paul.
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Let's go for jewelry and watches and necklaces and pendants, just something completely at random,
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because they're all basically exactly the same.
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Now it lists me out a bunch of products, but what I want you to focus on is this sort by by default,
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it's showing short by best match.
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But what I want to do is sort by orders.
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And when it does that, what it will do is it will sort by the best selling first, the products that
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are most in demand, the markets that are therefore most in demand, all of the guesswork taken out.
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AliExpress is telling me exactly what's selling and that's therefore exactly what I can sell.
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Right?
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Simple as that.
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So you can see here, if I just scroll down a bit, how many of these products sell?
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So here we have a what is this, a female elegant style zodiac sign necklace.
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Okay.
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41,000.
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Nearly 42,000 of those sold.
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The next one over here, 33,000, 25,000.
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Huge numbers of these products are selling.
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And you can come back here next week or in a few days time and see how much that's incrementing and
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get an idea of the demand over time.
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And therefore, you know, this is a very, very exciting product to sell.
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But you can you can see, right.
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It's it's all here in front of you.
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It's simple as that.
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There really is not a lot more to do.
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You might be might have been expecting something incredibly scientific and clever.
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But, you know, with everything I'm trying to do on this course, I'm trying to demonstrate how easy
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really in a way, I don't want to use that overused that word, but it doesn't have to be complicated.
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So many people overcomplicate business and it really doesn't have to be.
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And this is this is another example of that.
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Right.
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All of the products that you would want to sell are sitting here on, Ali, and it's telling you exactly
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those that are going to sell the best.
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Now, I'm going to show you how to narrow these products down a bit in a couple of lectures time so
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that you can select the ones that are going to give you the maximum profit.
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But I hope what you can see there is how easy it is to dive into any of these markets.
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And let's just reiterate here, if I go back to the AliExpress home page here, all of these markets
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exist because there's a demand exactly what I was just saying.
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So if you just like go down through all this, whatever, I pick bags and shoes, all of these things
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over here, they exist because there's a demand.
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If they didn't, they wouldn't exist.
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So here you have a load of markets that are in demand.
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And let's just I don't know, just for the sake of argument, let's pick another one.
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Let's pick wallets.
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Okay.
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We go to wallets.
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We click on orders.
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And here we go.
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I've got a wallet here where 14,000 have been sold, 9000 have been sold, etc..
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And now I'm off and running in the whole market of wallets and I'm already getting a very good idea
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of what type of products could sell very well.
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Now we can apply the simple yet very powerful logic also to Amazon, because Amazon also, of course,
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is just a whole load of markets and submarkets and subsub markets that are selling very well with top
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selling products in each one.
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So we're not going to be using Amazon to source our products, of course, but it can be a huge font
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of knowledge.
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It can give us an amazing number of ideas.
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So let me just demonstrate here.
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So I'm on Amazon.com.
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I'm sure everybody knows this site and that's just clicking here.
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Now, Amazon's all organized into this sort of top level markets, if you like.
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So let's go down to what should we do?
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Let's try to keep the whole business of dogs going.
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So we got pet supplies.
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So I go to pet supplies and then I'll go to dogs.
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And now here, you know, if you're ever wondering what a great mark is, all of these are great markets.
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You know, some of these might take your fancy.
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Others maybe not so much.
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But let's just say, for example, I chose apparel and accessories.
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Okay, great.
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Big market, tons of products.
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And as I say, you know, we'll be talking a little bit more about how we're going to narrow this down
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to find the most profitable products.
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But on Amazon, things a little bit different.
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Amazon doesn't give us the total number of orders, but what it does do is it gives us the number of
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reviews, uses this kind of star rating, and then the number of reviews and a review is a great indicator.
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Now this is kind of like it's not just a feeling, it's sort of semi scientific, if you like.
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But I'm sure as you realize that everybody who buys a product doesn't always leave a review.
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And in fact, you know, very few people will go back and write a review of some kind.
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And I reckon in over many years of doing this, that around about one in 100, perhaps one in 101 to
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50 will actually end up writing a review.
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So what that means is that I can kind of like back calculate here, I can take the number of reviews
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and I can basically figure out how many of these dog boots waterproof shoes for dogs I've actually sold.
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So there's 2000 reviews.
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So if I assume that one in 100 people actually leaves a review, right, that would mean that getting
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close to 200,000 of these have been sold.
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And in fact, as I do this, as I look up here, it's marked as a best seller.
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So you see what I've done there?
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I've literally just taken this number and multiplied it by 100.
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So that gives me very quickly a great idea of products that are selling well on Amazon and therefore
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that I can also use and sell on my site.
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So that's exactly what I do to choose my market.
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So I just as we head back to the previous slide here, it's going to carry on with a few more bullet
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points.
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But but that's what I do.
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That's how I choose my market.
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I visit Ali, I visit Amazon, I cruise around on those sites.
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And I just let you know, basically just see what pops up, see what interests me.
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And I find those best selling products within them.
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It really is as simple and as powerful as that.
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Now, the next thing that always pops up, the next question is, should I go niche or should I go general
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with my store?
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So a general store would be a store selling, you know, 25, 3500 different products.
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And a niche store might be one that just sells one particular type of product.
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Now, what I would say here is if this is your first time into e-commerce, which it might well be,
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I would really encourage you to go, General.
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Okay, keep it.
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General.
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Just basically do what I did there with looking for markets and products and just pick out those products
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and start to put them on your site.
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Of course, I'm going to show you all these things about how to actually put them on your site later.
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But you're coming up with a general store.
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And this is a really good way to start because what's going to happen over time could be a few days,
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it could be a few weeks, it could be a few months.
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Whatever it is, you're going to have best selling products or a best selling product, right?
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And when you have that, you may at that point, well want to build a niche store around it.
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I'm going a little bit further ahead here, but I just want to give you an idea of what's possible.
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So let's just say, for example, you put those waterproof dog shoes on your general store, right?
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The ones I just found on Amazon and they started to sell like crazy.
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In the future, what you might want to do is create an additional niche store called Waterproof Dog
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Shoes, kind of.
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So just coming up with ideas off the top of my head here.
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But I hope it really illustrates the point.
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You know, a site that sells waterproof dog shoes exclusively, so you become a niche at that point.
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But what I'm trying to say here is unless you have a really clear idea of what your niche wants to be,
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start general and let the market tell you when or if it will be the suitable time to go into a niche.
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Now another concept I just want to introduce here as well when you're choosing a market is that you
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should always it doesn't matter what you're doing in business, you should always be solving a problem
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or fulfilling a passion.
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Okay, those are the two things that makes people buy.
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Now, let me just give you an example.
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Solving a problem.
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Solving a problem could be a nice little product that, let's say, removes the core from an apple.
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Okay.
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Just again, just off the top of my head, just a quick example, but that solves a problem for somebody
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and therefore they will buy it.
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Fulfilling a passion is something slightly different.
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We've seen, for example, I just showed you those dog boots, those waterproof dog boots.
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Now, generally speaking, I don't want to start an argument here, but generally speaking, most dogs
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do not need water.
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Proof dog shoes.
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Okay, I have a dog.
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I love my dog.
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But, you know, he doesn't really need waterproof dog shoes.
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So I hope you agree that we're not really solving a problem there.
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What we're doing is we're fulfilling a passion.
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It's the passion of the dog owner.
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People spend literally billions on their dogs a year globally not solving problems, but just simply
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indulging and fulfilling those passions and those two things.
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Solving problems and fulfilling passions are incredible motivators.
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We'll talk about this more and more as we go through the course, as I try to give you the best tips
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I possibly can to choosing markets and finding fantastic products.
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And on that note, in the next lecture, I want to delve a bit deeper into this whole thing, because
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I want to show you not only how to find products that sell, but those products that are going to give
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you the maximum amount of profit.
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