What are the most profitable CENTS business models?

[Bence Ur]

The Fastlane Forum is an entrepreneur discussion forum based on the CENTS Entrepreneurial Framework.

The UNSCRIPTED philosophy is based on 5 core Commandments within the Fastlane Business Structure, frequently referred to as CENTS:

#1: The Commandment of Control.

#2: The Commandment of Entry

#3: The Commandment of Need

#4: The Commandment of Time

#5: The Commandment of Scale

Question: What are the most profitable business models or business ideas that satisfy all of these 5 CENTS Commandments?

 

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[Eva (AI-Bot)]

When it comes to identifying the most profitable business models or ideas that align with the CENTS Commandments, there are several possibilities. Here are a few examples:

1. Software as a Service (SaaS) Platforms: SaaS businesses can offer high levels of control because you have full ownership over the software and its distribution. By providing a solution that satisfies a clear need in the market, you can create a profitable venture. With proper scalability, you can grow your user base while keeping costs relatively low.

2. E-commerce: E-commerce allows for control over various aspects, such as product selection, marketing, and pricing. By identifying a need in the market and creating a streamlined online shopping experience, you can build a profitable business. Additionally, by leveraging automation and outsourcing, e-commerce can be scaled efficiently.

3. Digital Products: Selling digital products, such as e-books, online courses, or templates, offers control as you create and own the products. With the potential for high demand and low production costs, digital products can be a lucrative business model. By leveraging marketing strategies and technology, you can scale your business quickly.

4. Subscription-based models: Building a subscription-based business satisfies the commandments of control and time. By providing ongoing value to your customers through a membership or subscription model, you can create a predictable and scalable revenue stream. Examples include subscription boxes, membership websites, and software/services with recurring payments.

5. Online marketplaces: Creating an online marketplace allows you to maintain control of the platform while providing a solution to market needs. Successful examples include platforms like Airbnb and Uber, where you connect buyers and sellers, earning a commission or transaction fee. With careful management and scalability, online marketplaces can be highly profitable.

Remember that the profitability and success of any business model will depend on various factors, such as market conditions, competition, marketing strategies, execution, and adaptability. It is crucial to conduct thorough research, analyze market demand, and continuously optimize your business to remain profitable in the long run.

 

[Bence Ur]

When it comes to identifying the most profitable business models or ideas that align with the CENTS Commandments, there are several possibilities. Here are a few examples:

1. Software as a Service (SaaS) Platforms: SaaS businesses can offer high levels of control because you have full ownership over the software and its distribution. By providing a solution that satisfies a clear need in the market, you can create a profitable venture. With proper scalability, you can grow your user base while keeping costs relatively low.

2. E-commerce: E-commerce allows for control over various aspects, such as product selection, marketing, and pricing. By identifying a need in the market and creating a streamlined online shopping experience, you can build a profitable business. Additionally, by leveraging automation and outsourcing, e-commerce can be scaled efficiently.

3. Digital Products: Selling digital products, such as e-books, online courses, or templates, offers control as you create and own the products. With the potential for high demand and low production costs, digital products can be a lucrative business model. By leveraging marketing strategies and technology, you can scale your business quickly.

4. Subscription-based models: Building a subscription-based business satisfies the commandments of control and time. By providing ongoing value to your customers through a membership or subscription model, you can create a predictable and scalable revenue stream. Examples include subscription boxes, membership websites, and software/services with recurring payments.

5. Online marketplaces: Creating an online marketplace allows you to maintain control of the platform while providing a solution to market needs. Successful examples include platforms like Airbnb and Uber, where you connect buyers and sellers, earning a commission or transaction fee. With careful management and scalability, online marketplaces can be highly profitable.

Remember that the profitability and success of any business model will depend on various factors, such as market conditions, competition, marketing strategies, execution, and adaptability. It is crucial to conduct thorough research, analyze market demand, and continuously optimize your business to remain profitable in the long run.

You mentioned these 5 most profitable broad business models, please list some profitable sub-niches inside these 5 broad business models!

 

[Eva (AI-Bot)]

You mentioned these 5 most profitable broad business models, please list some profitable sub-niches inside these 5 broad business models!

Certainly! Here are some profitable sub-niches within the five broad business models discussed:

1. Software as a Service (SaaS) Platforms:
- Project management software for specific industries (e.g., construction, healthcare)
- Customer relationship management (CRM) software for niche markets
- Marketing automation tools for targeted industries (e.g., real estate, e-commerce)
- Accounting and financial management software for specific sectors (e.g., freelancers, small businesses)

2. E-commerce:
- Niche clothing and apparel (e.g., sustainable fashion, athleisure)
- Specialty food and beverage products (e.g., organic, gluten-free)
- Unique home and decor items (e.g., minimalistic, eco-friendly)
- Customized or personalized products (e.g., custom jewelry, personalized gifts)

3. Digital Products:
- Online language learning courses
- Fitness and wellness e-books or video training programs
- Graphic design templates and resources
- Stock photography and video footage libraries

4. Subscription-based models:
- Meal kit subscriptions with specialized dietary options (e.g., vegan, paleo)
- Subscription boxes for specific hobbies or interests (e.g., outdoor adventure gear, beauty products)
- Membership sites offering exclusive content or training in a specific field (e.g., online marketing, personal development)
- Software or app subscriptions for specific industries (e.g., project management, productivity tools)

5. Online marketplaces:
- Local service marketplaces for specific professions (e.g., photography, tutoring)
- Niche product marketplaces for handmade or artisan goods (e.g., handmade jewelry, organic skincare)
- Peer-to-peer rental marketplaces for specialized equipment or vehicles (e.g., camera gear, RVs)
- Virtual event or conference platforms connecting speakers and attendees

These are just a few examples of profitable sub-niches within the mentioned business models. It's important to conduct thorough market research and identify specific needs or gaps in the market to maximize the profitability of your chosen niche. Additionally, focusing on providing exceptional value and customer experience will contribute to the success of your business.

 

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[Bence Ur]

Certainly! Here are some profitable sub-niches within the five broad business models discussed:

1. Software as a Service (SaaS) Platforms:
- Project management software for specific industries (e.g., construction, healthcare)
- Customer relationship management (CRM) software for niche markets
- Marketing automation tools for targeted industries (e.g., real estate, e-commerce)
- Accounting and financial management software for specific sectors (e.g., freelancers, small businesses)

2. E-commerce:
- Niche clothing and apparel (e.g., sustainable fashion, athleisure)
- Specialty food and beverage products (e.g., organic, gluten-free)
- Unique home and decor items (e.g., minimalistic, eco-friendly)
- Customized or personalized products (e.g., custom jewelry, personalized gifts)

3. Digital Products:
- Online language learning courses
- Fitness and wellness e-books or video training programs
- Graphic design templates and resources
- Stock photography and video footage libraries

4. Subscription-based models:
- Meal kit subscriptions with specialized dietary options (e.g., vegan, paleo)
- Subscription boxes for specific hobbies or interests (e.g., outdoor adventure gear, beauty products)
- Membership sites offering exclusive content or training in a specific field (e.g., online marketing, personal development)
- Software or app subscriptions for specific industries (e.g., project management, productivity tools)

5. Online marketplaces:
- Local service marketplaces for specific professions (e.g., photography, tutoring)
- Niche product marketplaces for handmade or artisan goods (e.g., handmade jewelry, organic skincare)
- Peer-to-peer rental marketplaces for specialized equipment or vehicles (e.g., camera gear, RVs)
- Virtual event or conference platforms connecting speakers and attendees

These are just a few examples of profitable sub-niches within the mentioned business models. It's important to conduct thorough market research and identify specific needs or gaps in the market to maximize the profitability of your chosen niche. Additionally, focusing on providing exceptional value and customer experience will contribute to the success of your business.

Out of these business models what business models would you recommend for solopreneurs without funding?

 

[Eva (AI-Bot)]

Out of these business models what business models would you recommend for solopreneurs without funding?

For solopreneurs without funding, there are several business models that can be pursued. Here are a few recommendations:

1. Service-based business: Offering a service based on your skills and expertise is a great option for solopreneurs without funding. This could include services such as graphic design, copywriting, digital marketing, consulting, social media management, tutoring, or virtual assistance. Service-based businesses typically have low startup costs and can be started with just a computer and internet connection. You can market your services through online platforms, social media, and networking to attract clients and generate income.

2. Content creation: If you have a passion for writing, photography, or video production, consider starting a content creation business. You can create valuable content such as blog posts, articles, videos, or podcasts and monetize it through advertising, sponsorships, affiliate marketing, or by creating digital products to sell. Building an online presence through platforms like YouTube, blogging, or social media can help generate an audience and attract opportunities for monetization.

3. Freelancing on existing platforms: Platforms like Upwork, Fiverr, or TaskRabbit provide opportunities for solopreneurs to offer their services in a freelance capacity. Whether it's graphic design, programming, writing, or creative services, you can leverage these platforms to find clients and establish your reputation in the industry. Over time, you can expand your client base and build a steady income stream.

4. Affiliate marketing: Affiliate marketing allows solopreneurs to earn commission by promoting other people's products or services. You can create content, such as blog posts or social media posts, where you recommend products or share your experiences. When someone makes a purchase through your affiliate link, you earn a commission. This business model requires minimal upfront investment and can be done with a simple website or social media presence.

5. Online coaching or consulting: If you have expertise in a particular field, you can offer online coaching or consulting services. This can be done through one-on-one sessions, group coaching, or online courses. You can share your knowledge and help others achieve their goals while generating income. Online platforms like Zoom, Skype, or Teachable can be used to deliver your coaching or consulting services.

Remember that while these business models may not require significant upfront funding, they do require hard work, dedication, and a solid marketing strategy to attract clients and customers. It's important to focus on providing value, building relationships, and continuously improving your skills to succeed as a solopreneur.

 

[MJ DeMarco]

The forum AI is not very educated on my philosophy and I tend to liken her to generalized topics. In other words, she hasn't been specifically trained on this forum or my work, but just generally from basic knowledge.

 

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[Bence Ur]

The forum AI is not very educated on my philosophy and I tend to liken her to generalized topics. In other words, she hasn't been specifically trained on this forum or my work, but just generally from basic knowledge.

But I think her first response is very good, so she mentioned these 5 most profitable CENTS business models: Software as a Service (SaaS), E-commerce, Digital products, Subscription-based models, Online marketplaces. I think these all 5 might be profitable and CENTS (depending on the execution and the exact sub-niche and target market of course).

 

[MJ DeMarco]

But I think her first response is very good, so she mentioned these 5 most profitable CENTS business models: Software as a Service (SaaS), E-commerce, Digital products, Subscription-based models, Online marketplaces. I think these all 5 might be profitable and CENTS (depending on the execution and the exact sub-niche and target market of course).

Yes, all of those were pretty good!!

SAAS is my favorite.

 

[ZackerySprague]

Yes, all of those were pretty good!!

SAAS is my favorite.

Would you say that it would the ideal business model to do bootstrapping if one person does not have the cash to drive Ads or for product creation when it comes to eCommerce?

By the way... I somehow still have access to Ryan Daniel Moran's The One Percent group. His course material is on point.

 

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[Panos Daras]

Good to see I am on that list. Too bad my execution is not as good as it has to be, yet. Thanks for the good questions @Bence Ur

 

[MRiabov]

Honestly? Every product that solves a huge problem for humanity.

Like an artificial body machine that will allow people with disabilities (and even those without) live more effectively.

Or a machine that cooks for you...

I'd suggest you ask yourself "what's there in the future?". And bring this future to people.

@MJ DeMarco I'd also suggest in top 3 forbes noone got there by doing software.

It's so rare B2C consumers will pay for the software, that your chance to impact billions is miniscule

 

[Andy Black]

The forum AI is not very educated on my philosophy and I tend to liken her to generalized topics. In other words, she hasn't been specifically trained on this forum or my work, but just generally from basic knowledge.

Would something like chatbase help, where you train it with your content?

 

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[MJ DeMarco]

Would something like chatbase help, where you train it with your content?

The forum is moving platforms likely in early 2024, so I'm not putting a lot of investment into anything related to Xenforo. I'm done with them, and the developer who created the AI plugin that this forum powers, is also done with Xenforo and no longer supports it.

 

[Bence Ur]

I'd also suggest in top 3 forbes noone got there by doing software.

Not in the top 3, but a few people from this list: Real Time Billionaires

#4 Larry Ellison - Oracle (software)
#5 Larry Page - Google (software)
#7 Mark Zuckerberg - Facebook (software)
#8 Sergey Brin - Google (software)
#9 Bill Gates - Microsoft (software)
#10 Steve Ballmer - Microsoft (software)

 

[MRiabov]

Not in the top 3, but a few people from this list: Real Time Billionaires

#4 Larry Ellison - Oracle (software)
#5 Larry Page - Google (software)
#7 Mark Zuckerberg - Facebook (software)
#8 Sergey Brin - Google (software)
#9 Bill Gates - Microsoft (software)
#10 Steve Ballmer - Microsoft (software)

Oh, alright-alright, I'm wrong then.

I never thought Mark Zuckerberg or Sergey Brin owned much of their companies.

 

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[Elxandre24]

Would you say that it would the ideal business model to do bootstrapping if one person does not have the cash to drive Ads or for product creation when it comes to eCommerce?

By the way... I somehow still have access to Ryan Daniel Moran's The One Percent group. His course material is on point.

I know it's a bit off topic, but did the one percent community help in creating a profitable business as advertised?

 

[ZackerySprague]

I know it's a bit off topic, but did the one percent community help in creating a profitable business as advertised?

Looking at what I wrote, everyone can disregard my question, I wasn't thinking at the time. There are ways to come up with the required capital to start something.

In terms of Ryan Daniel Moran's, One Percent Group, I shouldn't have access to it. I canceled my subscription long time ago. I don't want to overload my brain with any more course information. I just want to stick with one mentor for now. I'm going to stick to MJ's books and only read books on problems I have problems with.

With that being said, Ryan's information is great and valuable. He has helped a multitude of people start e-commerce businesses. But the one percent group costs around $3,500 per year versus $300 a month several year's ago.

Hope this helps. He's credible and someone can learn from. His track record is on par with what he does. He sold Sheer Strength many year's ago.

Another person to follow is Moiz and Kara Goldin. Moiz's newsletters are TOP NOTCH and MJ's TGRE was written around it.

I spoke with him via Twitter to know about the profit margins usually for an e-commerce brand. He stated 30% would be extraordinary considering the costs, etc. When I was going to do a woman's handbag ecom store.