60 - Determining Which Business Type To Start (Part 1)

In this episode, I’m going to talk the two dominant types of business categories that you can start. The first one is High Profit, Low Startup Cost while the second one is Low Profit, High Startup Cost.

I’m going to talk extensively about each of them, the sub-categories within them, and the types of businesses you can start within each category, so you can be able to make an informed decision when you choose dive into entrepreneurship.

Key Points Discussed:

• Different types of businesses (03:22)


• Great analogy from Alex Becker (07:29)


• Business is all about solving problems (12:19)


• Product-based businesses and software businesses (14:46)


• Your time is neither scalable nor sellable (17:08)


• Starting an expertise-based business (20:19)


• Shifts in the Internet and the economy have been favorable (25:01)

Get the Alex Becker Video HERE

You can find the transcripts and more at www.thinkdifferenttheory.com/60

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