Businesses that make CENTS....

[Jbrow327]

So does everyone here have a business that meets all CENTS requirements or just some of them? I'm having a hard time finding ideas that would be a full CENTS business. I'm sure there are plenty of businesses that are very successful without meeting all 5 commandments.

So, what are the best business ideas that follow CENTS? I can only come up with owning a self storage facility right now. What do you say?

 

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[Subsonic]

So does everyone here have a business that meets all CENTS requirements or just some of them? I'm having a hard time finding ideas that would be a full CENTS business. I'm sure there are plenty of businesses that are very successful without meeting all 5 commandments.

So, what are the best business ideas that follow CENTS? I can only come up with owning a self storage facility right now. What do you say?

Imo control and need are the only important ones when starting out.
The rest will take care of themselves when the business grows. You can scale anything and also hire people for anything basically.

 

[heavy_industry]

CENTS are not a list of requirements. They are a framework to help you avoid fundamental problems in your business model.

• No Control: Someone else can close your business at the drop of a hat.
• Weak Entry: Low profit if all the idiots can start doing it.
• No Need: Game over.
• Poor Scale: You won't see asymmetric upside returns on your time and effort.
• Time Dependent: You are creating a job for yourself, not a business.

A well implemented business can be very successful (at least in the short run), even if it's not CENTS compliant (except NEED, which is the core of any business). But the more vulnerabilities it has, the higher the chances of disaster in the long run.

Don't use CENTS to limit your potential or prevent you from taking action.
There is a huge amount of experience you can gain just by starting to work on any project. You can always adjust the strategy later.

 

[Dufresne85]

CENTS are not a list of requirements. They are a framework to help you avoid fundamental problems in your business model.

• No Control: Someone else can close your business at the drop of a hat.
• Weak Entry: Low profit if all the idiots can start doing it.
• No Need: Game over.
• Poor Scale: You won't see asymmetric upside returns on your time and effort.
• Time Dependent: You are creating a job for yourself, not a business.

A well implemented business can be very successful (at least in the short run), even if it's not CENTS compliant (except NEED, which is the core of any business). But the more vulnerabilities it has, the higher the chances of disaster in the long run.

Don't use CENTS to limit your potential or prevent you from taking action.
There is a huge amount of experience you can gain just by starting to work on any project. You can always adjust the strategy later.

This is great - I prefer this way of thinking, 'what to avoid' is somehow easier to remember.

 

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[Jbrow327]

CENTS are not a list of requirements. They are a framework to help you avoid fundamental problems in your business model.

• No Control: Someone else can close your business at the drop of a hat.
• Weak Entry: Low profit if all the idiots can start doing it.
• No Need: Game over.
• Poor Scale: You won't see asymmetric upside returns on your time and effort.
• Time Dependent: You are creating a job for yourself, not a business.

A well implemented business can be very successful (at least in the short run), even if it's not CENTS compliant (except NEED, which is the core of any business). But the more vulnerabilities it has, the higher the chances of disaster in the long run.

Don't use CENTS to limit your potential or prevent you from taking action.
There is a huge amount of experience you can gain just by starting to work on any project. You can always adjust the strategy later.

Thank you.