With the BBC news today about Foxconn acquiring Japanese company Sharp, I had the sudden interest in the life story of the man who built an empire called Foxconn.
Hon hai used to be a small medium sized electonics company based in Taiwan who in our dealings with them became known to be a low cost high quality subcontractor of large electronics firm.
Using this story in the backdrop, I researched my way to how the founder 'made it'.Now 2 hours later I have the strong desire to start day trading myself in the hope that I would kindle the fire in me in
But reading from the web about horror stories on day trading ie. high anxiety , high stress environment, I have no recourse but to look back at myself, what Im good at, and what people would buy from me.
So million dollar questions-
1. What am I good at? No, what am I great at? Using the God given skill or talent? Is it speaking? Is it music ? Is it sports? Narrow down? Speaking to teach or inform? Speaking to influence? Or Speaking to preach?
2. So what tangible or intangible items would people buy from me over and over again? Is it a product or a service?
3. Who are my competitors?
4. Is there a market out there? How big?
5. Can I survive and grow myself out of it?
Potential products and services I can create that should be cheaper AND better! Dont want to make 'just-another-product' out there-
1. Power banks using solar panels.
2. High end plastic to protect phones.
3. Financial products - savings and loan firms.
4. IT related software products to be used by logistics companies.
5. APPS for everyday use.
6. Training and consulting firm
Hon hai used to be a small medium sized electonics company based in Taiwan who in our dealings with them became known to be a low cost high quality subcontractor of large electronics firm.
Using this story in the backdrop, I researched my way to how the founder 'made it'.Now 2 hours later I have the strong desire to start day trading myself in the hope that I would kindle the fire in me in
But reading from the web about horror stories on day trading ie. high anxiety , high stress environment, I have no recourse but to look back at myself, what Im good at, and what people would buy from me.
So million dollar questions-
1. What am I good at? No, what am I great at? Using the God given skill or talent? Is it speaking? Is it music ? Is it sports? Narrow down? Speaking to teach or inform? Speaking to influence? Or Speaking to preach?
2. So what tangible or intangible items would people buy from me over and over again? Is it a product or a service?
3. Who are my competitors?
4. Is there a market out there? How big?
5. Can I survive and grow myself out of it?
Potential products and services I can create that should be cheaper AND better! Dont want to make 'just-another-product' out there-
1. Power banks using solar panels.
2. High end plastic to protect phones.
3. Financial products - savings and loan firms.
4. IT related software products to be used by logistics companies.
5. APPS for everyday use.
6. Training and consulting firm
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