Reverse Engineering for Profit
Make money by reverse engineering other businesses: Learn how other products and services work and duplicate what they are doing (avoid plagiarizm and illegal copying).
You do not have to reinvent the wheel. Apply the SALES method and learn how you could reverse engineer your way to massive profits. There are literally millions of business opportunities for you to choose from.
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Just to be clear, what is reverse engineering?
Reverse engineering, also called back engineering, is the process by which a man-made object is deconstructed to reveal its designs, architecture, or to extract knowledge from the object; similar to scientific research, the only difference being that scientific research is about a natural phenomenon. (Wikipedia)
What does this have to do with making money?
What is the connection between business and deconstructing objects for the purpose of knowledge?
For the most part, the mentioned Wikipedia article discuss reverse engineering of: machines, software, source code, protocols, integrated circuits/smart cards and military applications.
It does not explicitly cover reverse engineering in business, beyond this one phrase:
Competitive technical intelligence. Understand what one's competitor is actually doing, versus what they say they are doing.
Reverse engineering can be your most valuable tool in finding inspiration in business, making money online and for generating all kinds of new business ideas.
Making Money By Reverse Engineering
The idea here is that you don't have to reinvent the wheel to make money.
Study what others are doing and duplicate. But without plagiarism, no illegal copying or stealing.
Reverse engineer with the S.A.L.E.S. method (developed by ClickInsider).
Follow these simple steps and begin making your first SALES:
- SEARCH for products and services that you admire, something you find interesting, something you could realistically replicate or improve upon. Dare to be ambitious but avoid the unrealistic and unattainable. There are billions of services and products in the world. Narrow your scope to something that you find interesting and perhaps something within a domain you are familiar with, something that you already have knowledge about. Collect all ideas you find remotely interesting. Do not trust your memory, write things down, compile a list.
- APPOINT - Narrow it down further until you finally have selected one favorite service or product. In the beginning you might have many competing products and ideas to choose from. Choose something that you can realistically replicate with your current set of skills, or something that you could learn to do within a reasonable time frame. Remember: No illegal copying, no stealing. Do not duplicate other products or services unless it can be done legally. Research patents and respect trademarks. Find one product or service that sparks your interest.
- LEARN all about how it works: Understand how the product or service works. Collect all the details on how it makes money, how the business operates, who operates the business, background story, skills of the involved, vendors, suppliers, regulation, demographics, everything. Gather as much information as possible, until you understand as much as you can about the product and business.
- EVALUATE your ability to duplicate the service or product. Compare your current skills and resources against what you have learned. What is required to start a business for the selected product or service? Do you have what it takes? Can you realistically duplicate this business? Will you be able to improve upon it and out-compete them? Will you be able to offer their product in a region they are currently not operating? Can you offer a inferior product outside their current market, and still succeed? Evaluate, analyze, think, innovate, be creative, dream, visualize. Carefully evaluate if you have a chance at succeeding with a similar product or service. Proceed to the next task if your evaluation concluded in favor of the product or service, and if you have determined that you actually have a good chance at succeeding. Otherwise start over and do another search and try to find something that you could be even more passionate about.
- START & SELL. Begin the duplication process. Develop your own version of the selected service or product. Start, but only if you are ready to go all the way. Be determined, courageous and disciplined. If you decide to give it a try, do so if and only if you are completely determined to succeed. Because what is the point of trying if you don't intend to succeed? Stay on track and hopefully you will make your first sales soon.
The SALES method is simple, elegant and genius.
Can't find any business ideas? Try this list of 1000+ business ideas.
Kaizen: Reverse Engineer Something, And Then Improve The Thing
Kaizen is the Japanese approach and philosophy to continuously improve business processes (all aspects of business and life). This is achieved by involving everything and everyone in it.
The basic idea is to improve processes by look for better ways of doing things, all the time, all day, everywhere, and by all people involved in the process.
Start by reverse engineering businesses, services or products that you admire or would like to (legally) copy. Then, follow up with the kaizen approach, improving every aspect of your business.
Combining great business ideas can take your business to a whole new level. Kaizen mixed with reverse engineering is just one such example.
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