Eben Pagan reveals that only two activities actually make money in business: creating products people want to buy and marketing them effectively. He explains why most entrepreneurs waste time on non-revenue activities and shares the mindset shift needed to become a successful problem-solving entrepreneur.
The Top Money Making Activities In Business
Eben reveals that only products and marketing actually generate revenue in business. Most entrepreneurs waste time on setup activities like websites and phone lines instead of focusing on creating products people want to buy and marketing them effectively.
The key insight is that money-making activities share one thing in common: getting customers. Eben emphasizes finding products people already want rather than trying to sell what you prefer to create.
Successful entrepreneurs separate themselves from individual products and see themselves as problem solvers and opportunity identifiers. This prevents attachment to single ideas and builds resilience against competition and setbacks.
Traditional job security is disappearing with multiple career changes becoming the norm. This creates opportunities for entrepreneurs who can adapt and identify new market gaps rather than relying on single business models.
“To simplify, there are only two things that make money in a business. One, products, and two, marketing. And if you don't have a good product and good marketing, then you can't make money.”
— Eben Pagan▶ 1:42
According to Eben Pagan, only two activities actually make money in business: products (creating something people want to buy) and marketing (selling those products to customers). Everything else is either a waste of time or an expense.
“Most people that go into business trying to make money or try to figure out how to make money quickly in business, they make the mistake of focusing on something other than getting customers.”
— Eben Pagan▶ 3:09
Most entrepreneurs focus on setup activities like creating websites and business systems instead of the money-making activities of product development and marketing. They get distracted by tasks that feel important but don't generate revenue.
“Those that have consistent money-making success separate themselves from both the business and the product. Instead, they see themselves as problem solvers, opportunity identifiers, and money-making system creators.”
— Eben Pagan▶ 4:55
Don't get attached to any single product or business idea. Instead, see yourself as a problem solver and opportunity identifier who can create multiple revenue streams. This mindset protects you from setbacks and keeps you looking for new opportunities.
“I said find things that people already want to buy, things that people are searching for that solve their problems or give them a solution to a problem or desire they have.”
— Eben Pagan▶ 4:24
Don't create products you want to sell. Instead, find products that people are already searching for and want to buy. Focus on solving existing problems and fulfilling existing desires rather than trying to create new demand.
“You realize, you know what? I'm an entrepreneur. I can keep going. I can create more great ideas than people can rip off or steal and you've always got something to rely on.”
— Eben Pagan▶ 10:32
When you think like an entrepreneur rather than being attached to one product, competitors and copycats don't devastate you. You realize you can create more good ideas than people can steal, so you always have new opportunities to pursue.
A framework for identifying and prioritizing the only two activities that generate revenue in business
Identify Products People Want
Find things people are already searching for that solve their problems or fulfill their desires, rather than creating what you want to sell
Focus on Customer Acquisition
Invest most of your time in activities that involve getting customers - product development and marketing
Minimize Setup Activities
Limit time spent on infrastructure like websites, phone lines, and business setup that doesn't directly generate revenue
Adopt Entrepreneur Identity
See yourself as a problem solver and opportunity identifier rather than someone attached to a single product or business
Most business activities are either a waste of time or expenses - only two activities actually make money: products and marketing
Eben explains that activities like setting up a store, website, business phone line, or email list are distractions. The only revenue-generating activities are finding or creating something people want to buy and then selling it.
The key insight about money-making activities is that they involve getting customers - that's what products and marketing have in common
Eben identifies that both product development and marketing share the common element of customer acquisition, which is why they're the only true revenue activities.
Find products that people already want to buy, not stuff you want to sell - focus on solving their problems rather than your preferences
Eben emphasizes finding things people are searching for that solve their problems or desires, rather than creating what you personally want to market.
Successful entrepreneurs separate themselves from their business and product, seeing themselves as problem solvers and opportunity identifiers rather than becoming personally attached
Eben contrasts this with people who become identified with their product and make it personal, citing an example of someone who spent extensive time and money developing a product without testing market demand.
The traditional job security paradigm is disappearing with 3-5 career changes and 10-12 job changes expected before age 38
Harvey McKay, author of 'Swim with the Sharks Without Being Eaten Alive' who sold over 10 million business books, cites Department of Labor statistics showing this dramatic shift in career stability.
Thinking like an entrepreneur gives you the advantage of constantly looking for opportunities rather than being trapped in one idea
Eben references Richard Branson, a multi-billionaire with hundreds of companies spanning record stores to airlines, who constantly looks for great opportunities and has grown countless million-dollar businesses.
When you see yourself as an entrepreneur, setbacks like competitors or copycats don't devastate you because you know you can create more ideas than people can steal
Eben explains that this mindset prevents depression or funk when someone rips off your product idea or marketing, because you realize you can keep generating new opportunities.
Most business activities are either a waste of time or expenses - only two activities actually make money: products and marketing
▶ 0:30The key insight about money-making activities is that they involve getting customers - that's what products and marketing have in common
▶ 3:09Find products that people already want to buy, not stuff you want to sell - focus on solving their problems rather than your preferences
▶ 4:24Successful entrepreneurs separate themselves from their business and product, seeing themselves as problem solvers and opportunity identifiers rather than becoming personally attached
▶ 4:55The traditional job security paradigm is disappearing with 3-5 career changes and 10-12 job changes expected before age 38
▶ 8:16Thinking like an entrepreneur gives you the advantage of constantly looking for opportunities rather than being trapped in one idea
▶ 9:19When you see yourself as an entrepreneur, setbacks like competitors or copycats don't devastate you because you know you can create more ideas than people can steal
▶ 10:32Claim: “Business success comes from setting up infrastructure like websites, phone lines, and business systems”
Reframe: Only two activities make money: creating products people want to buy and marketing them effectively - everything else is either waste or expense
Claim: “Create products you're passionate about and then find customers for them”
Reframe: Find problems people already have and products they want to buy, then create solutions for existing demand
Claim: “Identify strongly with your business and product to show commitment and belief”
Reframe: Separate yourself from your business and see yourself as a problem-solving entrepreneur who creates multiple opportunities
“Most of the things that people do are either a waste of time or they're expenses.”
“To simplify, there are only two things that make money in a business. One, products, and two, marketing.”
“Those that have consistent money-making success separate themselves from both the business and the product.”
“I can create more great ideas than people can rip off or steal and you've always got something to rely on.”
Create Multiple Products Your Customers Will Buy
The genius way to predict exactly when your customers will be ready to buy your next product (and how to have it waiting for them).
The Mindset Of Successful Entrepreneurs
Why the most successful entrepreneurs never get emotionally attached to their products — and how this one mindset shift creates unlimited opportunities for profit.
How To Identify Your Talents
Discover Eben Pagan's proven framework for transforming your natural talents into a high-income stream in the rapidly evolving knowledge economy.
Targeting The Right Niche
Discover the counterintuitive niche targeting strategy that turned Eben Pagan's $40 ebook into multiple million-dollar business launches.
Business Frameworks
Common Mistakes
Focus on solving customer problems rather than selling your expertise - people don't want to buy you, they want to buy solutions to their problems
Eben identifies this as the single biggest mistake in information marketing, stating that trying to sell yourself and your expertise 'almost always ends in feeling self-conscious, fearful of rejection and literally paralyzed with fear'
Information products represent a multi-hundred billion dollar opportunity as traditional education systems cannot keep up with rapid change
Peter Drucker, the most famous business management guru, estimated this as a multi-hundred billion dollar opportunity, stating 'universities won't survive, the future is outside the traditional campus' because curriculum approval takes so long that by the time information gets in, it's already obsolete
Leaders must constantly reorient in uncertainty by having good maps and models to understand where they are and where they're going
Max Dupree quote: 'The first job of the leader is to Define reality' from his art of leadership book
You need approximately 100 mental models from diverse domains that work in combinations to become generative and creative
Charlie Munger's 'Poor Charlie's Almanac' introduces the lattice work of mental models concept and the Lollapalooza effect
