How My Vehicle History Venture Showcases My Approach To Business

I get asked for business advice a lot. It comes with the territory when you’ve created companies that have earned hundreds of millions of dollars. I’m not complaining. In fact, I do enjoy helping people out with their business ventures by imparting a bit of hard-earned wisdom. One of the things I tend to notice is that the questions I receive often miss the mark of what I think is important in business. People tend to focus on details that are only really important after you’ve found success, rather than building that success, to begin with. To help illustrate this, I want to give the example of my new vehicle history venture and show how it can be used as a model for other business ideas.

Power of the internet

So, that begs the question as to why the internet is so powerful for jumpstarting modern businesses? Well, if you think of business as a problem-solving endeavor at its core, then we can better understand how the internet helps carry out those goals. By connecting to unprecedented amounts of people and accessing huge amounts of data, modern companies can tap into the problem-solving capabilities of business better than ever before. In other words, more connections and more information equal a better ability to solve problems which in turn creates more successful businesses.

Central problem identification

To take the example of my new vehicle history endeavor, the central problem we’re solving is that customers want free information that can help inform their buying choices when purchasing a new car. The more information we can get into the hands of our customers, the better able we are to solve that problem. If we spend too much time focusing on, say, the look of our site without first getting that information to customers, our risk for failure goes up.

Revenue stream

To address this issue, I’ve gotten a lot of mileage out of turning to existing successful business models and seeing how I can emulate them. In this case, I’ve worked to emulate the model put forth by free credit report providers. I’ve long admired how these providers have been able to serve customers by giving them access to free information and then supporting the venture through sponsorship and advertising. In the same way, we seek to provide free vehicle reports to our customers supported by advertising and sponsors within the auto industry.

Consider the big picture

That’s a snapshot of the wisdom I tend to offer novice business professionals who seek me out. It may seem simple in concept, but I promise you the complications can easily come when trying to put it into practice. It may be worthwhile to take a long hard look at your business venture and see how you’re satisfying each of these points en route to eventual large-scale success. If you’re falling short in one of these areas, it may be time for a change.

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Jesse Willms | Entrepreneur and Businessman | Las Vegas, Nevada | |