092: Why So Many Great Business Ideas Fail

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It's David Lee. Today's video blog is coming to you from Iloilo City in the Philippines with my good friend Nick. "Hi! How are you doing Nick?" I'm getting guitar lessons. I'm in a guitar shop on the main street here in Iloilo City.

David: "Nick, you work here. You sell guitars. You're an employee in the shop."

Nick: "Yes."

David: "I've asked you a few questions over the time we've been getting lessons. I've asked you how many guitars have you've sold in January. You said you've sold about 20 guitars."

Nick: "Yes."

David: "You work as an employee so it's the shop owner that's making the sales. And how many students have you got? You also teach guitar to people that come in. How many guitar students have you got at the moment Nick?"

Nick: "For this month, just only you."

David: "Only?

Nick: "Only you."

David: "Only me!

And so, this blog is for you. Look at Nick and ask yourself, "What do you do in your employment, in your business... whatever it is, through Nick's eyes can you see yourself? How could you, potentially, improve your business?"

That's really what I do. I'm an outsider. I'm an outsider to this place, obviously, looking in.

David: "And I asked you this question Nick, 'What would you prefer... to earn in pesos and spend in pesos? Or to earn in dollars, euros, pounds, and spending pesos? And you answered that you prefer what... the dollars?'"

Nick: "Yes."

David: "The pounds and the euros."

Because the cost of living here in comparison to overseas is much, much less.

David: "So you're here. You're giving me lessons for guitar and I'm paying you every time, but you only get paid for physically being here! Is that correct?"

Nick: "Yes."

David: "What I said to you earlier Nick, how did that sound? You said to me at the end, 'I don't know how to do what you said.' But what did I show that, potentially, could improve your earning power? Do you want to explain it in your simple way? What did I show you?"

Remember? I got you on video to show me what you do. Some of the guitar patterns. The picking patterns. The strumming patterns."

Nick: "Yes."

David: "And I said, 'Well, that's got the same value as me paying you what I pay per hour here. How customers have you got this month Nick? How many?"

Nick: "Only you."

David: "Only me! And I said to you, 'This little video you we did, as an example... could we not put it on the internet? Do you think there's people out there in the world, in every country of the world, that would like to know what...which is, go on, start playing to go on. Show them what you can do!"

[Nick plays his guitar]

David: "Okay! So that's what you do. You're teaching me at the moment. So if you could do that over the internet. People are paying you online. How many times did we make that video? How many times? We just did it how many times?"

Nick: "Just one."

David: "One time only! And how many times can that video, if it was put on the internet, be played? Limitless, isn't it?"

Nick: "Yes."

David: "Anybody in any place in the world, 24 hours a day. And I asked you this question, 'What makes more sense... sitting here waiting for another guy like me to walk in the door to start giving lessons to, or to be able to reach out to as many people as possible?'

Cause you don't really care what country they're in, do you? So long as they're making the payments to you online and you're doing it one time only. Would that sound better?"

The problem is, and it's like many, many people.

David: "You said to me, 'The problem is was you don't know...'"

Nick: "...you don't know how."

Nick: "You don't know how. And you don't claim to be an expert."

David: "I've got a secret for you. I meet people in business and they think they know everything. You've met people like that? They think they know the answer to everything. It's impossible! And I gave you an example. If your car broke down tomorrow, could you fix it?"

Nick: "No."

David: "No you couldn't! What would you do if your car broke down?"

Nick: "Go to a technician."

David: "Go to a technician who could fix it, who runs a garage. So that's all you've got to do. Go to the person that you can find that can get you online, knows what gets people interested, how people can find you. Because there's no doubt you know what you do.

And so, if you could transform what we know, put it onto the Internet, do structured lessons... it's worth the same as people taking time out in the day, having to come to find you... here, if they live locally. Or would you prefer to learn from the comfort of your own home and get exactly the same lessons? That sounds better, doesn't it?"

Think if you can...

David: "Now this... I've used you as an example. I walked across the road and I immediately turned back. Because you're no different to the people that are watching us now Nick. They're watching us and they don't know what they can do.

The technology confuses them. They don't know how to communicate to people. They don't know how to get them interested. But they do know what they have learned over their lifetime! You do know how to play guitar.

The problem is you don't know how to reach people to get them to find out about you, to get their interest, and then to pay you the money and for you to teach them either that one time in a video training, or, you could even do... remember I said Skype?"

Nick: "Yes."

David: "So that you are seeing them. You can see what they're doing. You could train them in that way. In fact, you could make a lesson out of the lessons that you give.

Is it starting to make sense the possibility, even though you don't know how to do it? How you could it."

That's the purpose of today's video. I'm here with Nick. We're learning how to play guitar. If you need to get in contact with me.

David: "I see this all the time Nick when I go through every shop or pass by people, or ask them questions. They could, if they only knew how, turn their life around."

And that's what we all want, isn't it? This is David Lee with Nick and... a few strums on the guitar before we say goodbye!

Thank you very much.

[Nick plays his guitar]

David: "And smile."

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