The top 5 expert businesses you can build in less than 8 weeks
In this episode, I'm going to show you the top five types of expert businesses you can build in less than eight weeks.
What we want to really make sure everybody is clear about upfront is, the difference between revenue and profit. Revenue is just the money you have coming in from customers. So, you could easily have a business that generates, $1 million of revenue, but that could be at a negative profit…
If you're in a space that just doesn't have any profit potential, you're just going to be swimming upstream the whole time. Profit potential is a big one, you know, revenue versus profit. Another one is what are the onetime costs and what are the ongoing costs that it takes to start that particular type of business.
So, some of the ones that don't make it into the top five are something like a software business or something like that. Because in most cases a software business is going to have fairly significant startup costs unless you're just talking about some kind of trivial app or something like that.
Hiring teams of developers and doing testing and all this kind of stuff, that's not going to make it into our top five that's able to be done well in less than eight weeks. Nothing wrong with that business model. It's just maybe a longer term play than what many of us are interested in at this point. And along the lines of those onetime and ongoing costs, ongoing costs can be high in particular types of businesses as well if they're labor intensive or if they take a lot of time to create the particular products that that you want to go to market with.
Check out the video for the five types of expert businesses that can be launched within 8 weeks!