Found on Reddit: The ideal business...

[mav55339]

This is a checklist for the ideal business. See the attachment. Although I'm having trouble thinking of one that meets all of those categories.

Do you guys know of one? I'm sure even if you hit 80 percent of those categories you'd be golden.

Discuss

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[MJ DeMarco]

"Can be started with little to no capital"

That invalidates the entire list as it such a business doesn't exist.

It's real world equivalency is like saying, "Buy beachfront property at a 99% discount of market value and you'll get rich!"

This list has some validity (and agree with a lot of it), but is an action-fakers pipe dream, perfect for the "I want the best results for the least amount of effort" crowd.

 

[amp0193]

"Can be started with little to no capital"

If this is true, and the rest of the list true, you are going to have so many competitors that that 5x cost retail price is going to disappear quickly.

In the early days of figuring out products to sell FBA on Amazon, I had one product that checked almost all these boxes, except the product sold for 13x my cost. That gravy train lasted about 6 weeks before dozens of others were doing the same, and the retail price dropped to about 3x cost (about breakeven after various fees/ads/etc)

 

[MJ DeMarco]

If this is true, and the rest of the list true, you are going to have so many competitors that that 5x cost retail price is going to disappear quickly.

In the early days of figuring out products to sell FBA on Amazon, I had one product that checked almost all these boxes, except the product sold for 13x my cost. That gravy train lasted about 6 weeks before dozens of others were doing the same, and the retail price dropped to about 3x cost (about breakeven after various fees/ads/etc)

Exactly, which is why you can tell the list was drawn up by someone who has no clue about business; just an action-faking, money chasing wish list.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[MTF]

"Can be started with little to no capital"

That invalidates the entire list as it such a business doesn't exist.

Lots of businesses can be started with little to no capital. The only question is whether they can grow with little to no capital.

Also, even if it's possible to grow with little to no cash capital, there's always another type of capital needed: time, energy, connections.

I'd much rather pay to grow than spend my time and compete with people who value their time at $1 per hour.

 

[amp0193]

Also, even if it's possible to grow with little to no cash capital, there's always another type of capital needed: time, energy, connections.

My current business started with no capital (cash).

But the "capital" required was:
- Years of digital marketing knowledge/experience capable of generating 6-figures in preorders from organic channels.
- Connection to industry influencers
- Understanding of how to manufacturer and import complex products.


Although because I was deficient in #3, I eventually did have to put in cash to correct my mistakes (but I wouldn't have had to otherwise).


And by removing many of those items from OP's checklist, I get to add one more that I value a lot more: virtually zero competitors. Unlike my days of selling on Amazon, my prices get to increase every year, not decrease.