Read this case study first.  Then read my thoughts on what this small business owner did right.

This article comes from my local English language digital newspaper.  As you read, notice how this entrepreneur has thought through the details of his business model.

Synthesize Ideas

Carlis Palau, assessed his skill set (civil engineer) his resources (family land in Ecuador) and an idea he encountered while on vacation in Florida. By combining these diverse ideas, he came up with a promising business plan.

Find Your Niche

In the USA, agro-urbanism is a somewhat elite idea but in Ecuador Carlos recognized a market in the hard-working poor who sell what they grow or make from road side stands. Carlos saw a need for this social economic group to have access to a house and land enough to produce food for a family with enough left over to sell at a cost that the crops could sustain.

Do the Math

Carlos calculated a road side stand along the beach in Ecuador could reliably bring in $150 a month.  Working backwards he came up with an affordable home, priced to cover a $150/month mortgage, of $29,500.

Find Your Business Model

Once Carlos had determined his business plan, identified his niche and calculated his pricing, his next challenge was to create a system that allows for his own profits to feed his family and sustain his business.

In this case profitability required reducing the time to construct each home. You can read about the solution he came up with in the article.

The steps Carlos followed to build a successful business model are the same ones you will need to think through, no matter where you are located.  These are also some of the steps I guide you through in my book, From Vision to Decision: A Self-Coaching Guide to Starting a New Business

If you find Carlos’s business idea inspiring, read my book and, by following the step and doing the thinking, you can come up with your own brilliant business idea.