Choose

What's "Choose: The Single Most Important Decision Before Starting Your Business" about?

• Core Focus: The book by Ryan Levesque is about making the most crucial decision before starting a business: choosing the right market. It emphasizes the importance of this choice in determining the success or failure of a business.
• Methodology: It introduces the Choose Method, a step-by-step process to help entrepreneurs identify and select a market that aligns with their strengths and has the potential for success.
• Target Audience: The book is aimed at aspiring entrepreneurs, those looking to start a side hustle, or existing business owners considering entering a new market.
• Outcome: By following the Choose Method, readers can mitigate risks and increase their chances of launching a successful business.

Why should I read "Choose: The Single Most Important Decision Before Starting Your Business"?

• Risk Mitigation: The book provides a structured approach to reduce the risk of business failure by helping you choose the right market.
• Expert Insights: Ryan Levesque shares his personal experiences and insights from helping thousands of entrepreneurs, making the advice practical and tested.
• Comprehensive Framework: It offers a detailed framework that covers brainstorming, testing, and choosing a market, ensuring you make informed decisions.
• Actionable Steps: The book is filled with actionable steps, worksheets, and real-world examples to guide you through the process of starting a business.

What are the key takeaways of "Choose: The Single Most Important Decision Before Starting Your Business"?

• Market Choice is Crucial: Choosing the right market is the most important decision for a new business, as it sets the foundation for success.
• Three-Stage Process: The Choose Method involves brainstorming, testing, and choosing a market, each with specific steps and criteria.
• Sweet Spot Concept: Identifying the Market Size Sweet Spot and Market Competition Sweet Spot is essential for finding a viable market.
• Market Must-Haves: A successful market should be evergreen, have enthusiastic buyers, solve a $10,000 problem, offer future problems to solve, and include players with money.

What is the Choose Method in "Choose: The Single Most Important Decision Before Starting Your Business"?

• Three Stages: The Choose Method consists of three stages: Brainstorm, Test, and Choose, each designed to help you identify the right market.
• Brainstorm Stage: This stage involves generating ideas for business models, markets, and business ideas without judgment.
• Test Stage: In this stage, you evaluate your ideas against criteria like market size, competition, and must-haves to determine viability.
• Choose Stage: The final stage involves making an informed decision about which market to pursue based on the results of the previous stages.

How does the Market Size Sweet Spot work in "Choose"?

• Google Trends Tool: The Market Size Sweet Spot is identified using Google Trends to measure the relative search volume of your Bullseye Keyword.
• Ideal Range: The Sweet Spot is a specific range on the Google Trends graph where successful markets typically fall, indicating the right market size.
• Not Too Big or Small: A market should not be too large (ocean-sized) or too small (still river) but should fall within this ideal range for optimal success.
• Comparison with Rosetta Stone Keywords: The book provides Rosetta Stone Keywords to compare against your Bullseye Keyword to determine if it falls within the Sweet Spot.

What are the Market Must-Haves in "Choose"?

• Evergreen Market: The market should have longevity and remain relevant over time, avoiding fads.
• Enthusiast Market: Buyers should be highly enthusiastic and remain engaged with the market long-term.
• $10,000 Problem: The market should solve a problem that can escalate in urgency and importance, making it a high-value issue.
• Future Problems: There should be evidence of additional problems to solve for the same customer, allowing for ongoing sales.
• Players with Money: The market should include customers willing to spend significant amounts, supporting high-end product offerings.

What is the IN/UP/MAX framework in "Choose"?

• IN Product: This is a low-priced entry-level product that serves as a low barrier of entry for 100% of your customers.
• UP Product: A more premium product priced roughly 10 times higher than the IN product, typically purchased by about 10% of customers.
• MAX Product: A top-level offer priced 100 times higher than the IN product, aimed at about 1% of your customer base.
• Progressive Framework: The framework helps structure your product offerings to maximize revenue and customer engagement.

What are some of the best quotes from "Choose" and what do they mean?

• "The times you’ll be most fulfilled, the times when you’ll be happiest, are not the times when you hit some lofty goal or milestone." This quote emphasizes that fulfillment comes from the journey and progress, not just achieving goals.
• "Momentum means progress, not perfection." It highlights the importance of continuous movement and improvement over striving for perfection.
• "You only win or you learn." This mindset encourages viewing failures as learning opportunities rather than setbacks.
• "Just. Keep. Swimming." A motivational reminder to persist and keep moving forward, even when challenges arise.

How does "Choose" address the fear of failure in entrepreneurship?

• Acknowledges Fear: The book openly discusses the fear and uncertainty that come with entrepreneurship, validating these emotions.
• Courage and Grit: It emphasizes the importance of courage and grit, encouraging readers to take action despite fear.
• Reframing Failure: The book suggests viewing failure as a learning opportunity, adopting a "win or learn" mindset.
• Risk Mitigation: By following the Choose Method, readers can reduce the risk of failure through informed decision-making.

How does "Choose" suggest you validate your business idea?

• Bullseye Keyword: Start by defining a Bullseye Keyword that represents the process or transformation your business offers.
• First-Pass Tests: Use Google and Amazon tests to quickly assess if your keyword aligns with what people are searching for and buying.
• Sweet Spot Tests: Evaluate your idea against the Market Size and Market Competition Sweet Spots to ensure it's viable.
• Market Must-Haves: Ensure your market meets all five must-have criteria for long-term success and sustainability.

What role does the ASK Method play after choosing a market in "Choose"?

• Understanding Your Market: The ASK Method helps you understand your market at a deep emotional level to better sell and serve.
• Deep Dive Survey: Conduct a survey to uncover what your customers really want, using the Single Most Important Question (SMIQ).
• Segmenting Your Market: Identify different segments or "buckets" within your market to tailor your messaging and offerings.
• Perceived Customization: Use the insights gained to customize your communication and product offerings, enhancing customer engagement.

What is the significance of the "Rosetta Stone" in "Choose"?

• Decoding Success: The Rosetta Stone Keywords help decode the ideal market size for successful businesses by providing a benchmark.
• Comparison Tool: Use these keywords in Google Trends to compare your Bullseye Keyword and determine if it falls within the Market Size Sweet Spot.
• Predictor of Success: The Rosetta Stone Keywords serve as a reliable predictor of market viability, based on successful businesses.
• Guidance for Entrepreneurs: They offer a practical tool for entrepreneurs to assess potential markets quickly and accurately.