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Part 7 in a series of videos on what Brian looks for in companies.

Transcription

Qualities business investors look for number seven.

Hi, I’m Brian Pombo welcome back to Brian J. Pombo Live.

This is the final one out of a list of seven of the top things, not the only things. But the top things that business investors look for.

How do I know this?

I’m a business investor.

And these are some of the top things that I look for when I’m looking for a business to invest in. Some of these are more broad, more vague, more subjective, others are very, very, very objective, and very specific.

This is one of those that’s a little on the subjective side. But when it’s there, it’s undeniable. It’s also these are in no particular order.

So you can go back and watch the other videos where I talk about numbers one through six. But this final one, really, I would say, has supremacy over the others in general, because, with it, you can always find the others you can build on the others.

Without it, it’s still possible to build a business, but it’s tougher across the board. So it’s kind of this magical element that’s difficult to find. But when you find it, when you can wrap your arms around it, it’s fabulous.

And so what is this number seven, I’m going to tell you in a second. But first, I gotta, since you’re here, I got to remind you about my book, 9 Ways to Amazon-Proof Your Business.

It’s a thin book, it’s a quick read and it provides nine very specific strategies that you can use. These are long-term strategies, these aren’t just things you could just put them into place and forget about them.

These are long-term strategies that you’ll be working on from now until the end of your business. Nine strategies you can use, though, to make yourself completely competition-proof, even if that so-called competition is amazon.com.

Even if it’s a big player like that, so go get yourself a copy of this book, you get a free one if you want a free digital copy over an AmazonProofBook.com.

Okay, let’s talk about number seven.

Drumroll, please.

Number seven is what I call MARKET ENTHUSIASM or IRRATIONAL PASSION. If you have a marketplace that you’re targeting a group of people, a type of a person if you’re targeting them with your product and service, or one of your products and services.

And that group of people, that description that you have for them describes a person that is irrationally passionate about what it is that you’re trying to sell to them.

You’ve got a winner, you’ve got something that all it takes is some tweaking, you’ve got something that you can build a business on. And the more evergreen that marketplace is, in terms of the type of thing that never really goes away. You may have different people come in and out of that market.

But if you’ve got something that never really goes away, that’s magic in a business and everything else can be built around that principle when you’ve defined who they are.

If they’re irrationally passionate about what it is that they’re after, then there’s no there are very few limits on the amount that you can charge. There are very few limits on the amount of quality that you can pump into it. There’s that market enthusiasm is magical.

The person that used to talk about this a lot. I’ve got one of his books back here was, you know, this is how to make maximum money in minimum time.

Okay, this gentleman’s name was Gary Halbert, and he used to talk about this irrational passion.

It it’s irreplaceable. It he talked about a starving crowd if you can get rid of all the other advantages. And if you had nothing else, but a starving crowd and your job is to sell hotdogs, so or anything.

If you’ve got a starving crowd, that’s what you want when you’re out to sell food. It’s the perfect ideal scenario. If you’ve got that nothing else matters.

Now all you got to do is figure out okay, how do I get the message to them?

How do I get my food in their hands as soon as possible?

That’s what you’re after. It doesn’t take you selling food or them being starving. What it takes is as close to that as possible in your market, in your space in your industry.

This is the way to think about things if you’ve got a rap on that, boy, I can speak for myself, but not just for myself for anybody that’s out there looking to invest in businesses, whether it’s investing capital, or investing time or expertise.

That’s what we’re looking for.

Because it’s not something you come across all the time. But if you’ve got something that ties in with that passion, you’ve got a product or service that ties in with that. All the rest is just details, we can figure out the rest as we go along.

So hopefully, all those make sense to you. Go back, rewatch this, see if you can wrap your mind around it. I love to hear any questions you have about any of these. Or if you’re trying to figure out whether it applies to you leave a comment wherever you’re watching or listening to this.

You can always leave a comment over at BrianJPombo.com, where we have an archive of these videos and audio broadcasts that we put out on a daily basis. And please continue watching, listening wherever you’re at and we’ll continue this conversation.

I’ve had a lot of fun with this last series. Hopefully, it’s been helpful to you.

We’ll be back tomorrow night. In the meantime, get out there and let the magic happen.